Calare Properties, a Hudson-based real estate investment firm, has purchased a 40,000 square-foot industrial space in Raynham for $2.85 million.
Constructed in 2004, the fully-vacant 480 Paramount Drive building was previously leased to a national tenant for an eight year term, but never occupied, leaving it in pristine condition, according to Calare. The building was purchased on Dec. 2, according to Massachusetts land records that valued the sale at $2.85 million.
The building is on 7.5 acres of land with 20 foot high ceilings, 111 parking spaces and ample loading docks. According to Calare, there is a lack of available flex space along the I-495 corridor. The company already has interest from a number of prospective tenants and expects to have the space fully leased in the first half of 2016.
