Leominster Industrial Building Sold
A Hudson-based commercial property management firm has bought a 588,000-square-foot industrial building in Leominster, part of which houses the home health care arm of HealthAlliance Hospital.
Calare Properties, which owns 11 other sites throughout Central Massachusetts, closed the deal Dec. 7 for $11 million, according to data from the Northern Worcester County Registry of Deeds. The seller was Holiday Real Estate LLC.
Brian Poitras, vice president of portfolio management for Calare, said the company had been working on the deal for about six months. He added that there is a "lot of interest" in the building, which was built in the 1980s, and Calare is aiming to make about $4 million in capital investment in the site.
About 36,000 square feet of the building is used as office space, some of which is occupied by HealthAlliance Home Health and Hospice.
In 2011, the Leominster City Council approved designating the site an "economic opportunity area," which makes it eligible for certain state and local tax credits.
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