BOSTON – Calare Properties has leased 152,700 square feet of industrial space at 35 Eastman St. in Easton, MA, in a single transaction with a tenant represented by Mike Jezienicki of Boston Realty Advisors, who also represented the subsequent buyer of the stabilized building in an off-market sale of the property to BentallGreenOak.
The lease was executed in September and sale was completed in December with a price of $34.7 million.
“In a supply constrained industrial market, 35 Eastman was an attractive property as it proved to be both functional with its 28-foot clear height and efficient with its loading dock access, parking count and power capacity,” said Jezienicki, Managing Director of Boston Realty Advisors. “The asset will be improved with cold storage infrastructure and allow the tenant to expand its operations to further service its clients throughout New England.”
Cabinet maker Sunco Inc. owned and operated out of 35 Eastman until September, when it vacated and sold property to Calare Properties, Inc. of Framingham. Mark Donahue of Donahue Associates of Brockton represented Calare Properties.
Boston Realty Advisors represented a national food wholesaler in its lease of 35 Eastman and then brought in buyer BentallGreenOak, which purchased on behalf of its institutional investors. Calare Properties will remain as the property manager.
Boston Realty Advisors is marketing 50,000 feet of sublease space available at 35 Eastman. Located 25 miles south of Boston and 20 miles north of Providence, the property has excellent access to I-95 and I-495 as well as local amenities in Easton and neighboring Mansfield.