Calare Properties Acquires Two-story, 80,000-SF Foxborough Property

FRAMINGHAM, MA – Calare Properties (Calare) has accomplished the acquisition of 325 Foxborough Blvd., a contemporary two-story workplace constructing located on 9.4 acres in Foxborough, MA.

With the acquisition of the 80,000 sq. ft. property, Calare has additionally secured a long-term tenant that may occupy your entire constructing. NECI, a options and providers supplier for industrial automation, information, and digital transformation, has dedicated to a 12-year lease on the property. Monetary phrases of the transaction weren’t disclosed.

“As a part of our industrial actual property portfolio technique, we analyze workplace properties very fastidiously and think about top quality, well-leased suburban workplace property close to inhabitants facilities as potential targets. We’re assured that 325 Foxborough Blvd. presents a really perfect alternative to offer long run worth each to our traders and our new tenant,” stated Todd Barclay, SVP of Acquisitions at Calare. “NECI will carry its company headquarters to this web site, offering an area for its 400 staff to take pleasure in a campus-like setting, an array of on-site facilities, and a handy location.

Positioned within the Foxborough Enterprise Heart Park, 325 Foxborough Blvd. presents a placing two-story lobby, health heart with locker rooms, and full-service cafeteria, together with well-maintained outside area for worker use. The open ground plates, excessive ceilings, and open idea frequent areas present the chance for personalization and suppleness. Moreover, the location helps the choice for an enlargement of as much as 40,000 sq. ft., offering even higher flexibility for the tenant.

In preparation for its transfer to the brand new world headquarters, NECI can be updating and re-designing the inside of the constructing to greatest assist their staff and long-term enterprise wants. Calare may also ship quite a lot of capital enhancements as a part of its funding technique, together with the addition of a brand new roof, enhancements to the HVAC system, and up to date parking areas.

“The Calare property administration and building crew is working intently with NECI to execute a formidable, modern construct out of the inside area,” famous Erin Gannon, VP and head undertaking supervisor at Calare. “The completed product will present useful, trendy area to assist their rising enterprise and mirror a longstanding dedication to their shoppers.”

NECI serves many industries corresponding to life sciences, energy, meals & beverage, and chemical by offering automation and digital transformation options that tackle course of and information integration challenges. The crew of consultants excel at collaborating with shoppers throughout the complicated interaction of individuals, processes, units, and applied sciences to ship bodily and digital options that safe property, enhance effectivity, and optimize sources.

325 Foxborough Blvd. is well-located throughout the Foxborough group, providing handy entry to native retailers and eating, whereas additionally sitting only a half mile from I-95 and two miles from the interchange of I-95 and I-495. The property enjoys easy accessibility to factors all through japanese Massachusetts and northern Rhode Island and is roughly half-hour from Boston and 20 minutes from Windfall.

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