Calare Leases 35 KSF of Industrial Space to Endeavor Robotics
- Oct 25, 2016
by Csilla Borsos
Hudson, Mass.—Private real estate investment firm and operator Calare Properties has recently leased 35,000 square feet of industrial space at 19 Alpha Road in Chelmsford, Mass., to Endeavor Robotics. The privately-held, U.S.-based robotics company will create more than 100 jobs at the new facility once it opens in November. The space leased to Endeavor is currently being reconstructed as a state-of-the-art facility for robot design, development and integration.
This June, Calare purchased 19 and 21 Alpha Road, two single-story, industrial/flex properties totaling roughly 127,500 square feet. Endeavor is leasing a part of 19 Alpha Road, a 63,220-square-foot property with additional space for immediate occupancy. The adjoining 21 Alpha Road is 83 percent occupied by tenants such as Thermo Fischer Scientific, NRG Energy and Universal Hospital Services. Situated in the center of Massachusetts’ tech corridor, the industrial buildings are well-located to accommodate office, R&D and warehouse/distribution tenants.
The property “offers tenants an exceptional infrastructure, including high ceilings, multiple loading docks and heavy power designed to accommodate a diverse range of industries,”added James Lipscomb, partner tenant advisory at Transwestern. “In light of today’s tight conditions in the 128N/495N market–where strong dynamics have led to the absorption of 523,000 square feet over the past six quarters, and positive absorption for 12 of the last 16 quarters–the available space at 19 Alpha Road presents an ideal opportunity for a company to take immediate advantage of superior, move-in ready flex space.”
Calare was represented by Blake Baldwin of Cushman & Wakefield and Lipscomb. Richard Ruggiero, executive managing director at Newmark Grubb Knight Frank acted on behalf of Endeavor Robotics. CBRE/NE’s Kyle Juszczyszyn, Chris Coutts and Lenny Pierce secured the competitive financing for Calare’s purchase.
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