Hudson firm makes $8M acquisition
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The property is located next to the state's only Ikea.
Hudson-based Calare Properties added the headquarters of Boston Interiors in Stoughton to its roster of properties last month when it purchased the building for $8 million.
Calare purchased the class A, 119,000 square-foot warehouse and retail building last month, according to Norfolk Property records. The private investment firm with a focus on industrial real estate purchased the 100-percent occupied building at 301 Page St. in Stoughton in an off-market transaction, according to a release from the firm.
“The strength of the tenant and term of the lease provide secure cash flows over the long term, and our basis will provide us with a high level of relative liquidity. We enjoyed working with the entire Boston Interiors team on this transaction and look forward to a long-term relationship with them,” Andrew Iglowski, Director of Acquisitions at Calare, said in a statement.
301 Page St. provides highway access across multiple routes, and is just 16 miles south of Boston. The building is situated in a dense warehouse, flex, and retail market, featuring neighboring companies such as Amazon, IKEA, Target, Kohl’s, Jordan’s Furniture, Bassett, and BJ’s Wholesale Club. In addition to 310 Page St.serving as its headquarters, retail store, and distribution center, Boston Interiors has seven area retail locations.
Correction: An earlier version of this story stated that the purchase price for the property was $2.4 million. This figure was gathered from public records but did not reflect the full purchase price that was $8 million, according to Calare.
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