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Calare Properties has expanded into New Jersey with the acquisition of a 25,750-square-foot industrial commercial condominium in Hamilton Township, NJ. This move marks Calare’s entry into the Tri-State market.
The acquired space is part of a 46,000-square-foot industrial/flex facility at 3 Nami Lane, fully leased to a long-term Calare tenant based in Massachusetts. The tenant, specializing in semiconductor products for telecommunications, industrial and defense, and data centers, plans to modernize the facility for future growth.
Structured as a sale-leaseback, the deal allows the tenant to maintain operations while leveraging the property value. “Our sale leaseback program helps companies unlock the value in their property with the added peace of mind of having an owner in place that is dedicated to building long-term value in the space,” said Sam Joseph of Calare.
Don’t miss your chance to hear from experts at the Connect Industrial Midwest 2024 event on March 5 at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.
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