Home > Press Releases > RBJ brokers $4 million sale of 121 Hale St., Lowell, Mass.

RBJ brokers $4 million sale of 121 Hale St., Lowell, Mass.

September 25, 2013 Leave a comment Go to comments

BOSTON – September 25, 2013 – Richards Barry Joyce & Partners, LLC (RBJ&P), a full-service commercial real estate advisory firm, announced today that it represented Hudson Advisors LLC in the sale of 121 Hale St. in Lowell, Mass., to Calare Properties, Inc. for $4.0 million.

Chris Skeffington, Senior Vice President

Chris Skeffington

121 Hale St. is a 60,700-square-foot industrial/research and development building located less than a mile from the Lowell Connector, off Interstate 495. The building is fully occupied by M/A-COM Technology Solutions (MACOM), a leading supplier of high performance RF, microwave and millimeter wave products. Adjacent to MACOM’s headquarters at 100 Chelmsford St., the facility supports R&D, engineering and new product testing functions for the company.

“121 Hale St. is a well positioned asset, with a terrific tenant in MACOM,” said Chris Skeffington, senior vice president, Richards Barry Joyce & Partners. “The building features modern construction as a result of significant renovations completed over the past few years. It’s a great acquisition for Calare Properties.”

James Lipscomb

James Lipscomb

RBJ&P’s Skeffington, Roy Sandeman, senior analyst, and James Lipscomb, senior vice president, represented the building’s seller and procured the buyer.

About the Market – I-495 North Flex
According to research by Richards Barry Joyce & Partners, the I-495 North submarket consists of 5,517,000 square feet of flex space, which was 22.0 percent vacant as of June 30, 2013. (Source:  Richards Barry Joyce & Partners’ “indSTATus – Summer 2013.”)

About Hudson Advisors LLC
Hudson Advisors LLC and its global subsidiaries (collectively, “Hudson”) is a globally integrated asset management company that performs due diligence and analysis, asset management, and other support services for Lone Star Funds (“Lone Star”), a leading private equity firm that invests globally in distressed assets. Formed in 1995, Hudson (formerly known as Brazos Advisors, LLC) is headquartered in Dallas, Texas and has subsidiary offices in New York, Montreal, London, Frankfurt, Munich, Luxembourg, Dublin, Madrid and Tokyo. Hudson collectively employs approximately 800 professionals.  www.hudson-advisors.com

Roy Sandeman

Roy Sandeman

About Calare Properties, Inc.
Calare Properties is a private, Massachusetts-based investment firm with a focus on value added industrial and flex/office real estate in the Northeast. Calare is the largest operator of industrial space in the Greater Boston area, and currently manages USD 350 MM of institutional and private capital, invested in a portfolio of 14,500,000 SF valued at over USD $500MM.  www.calare.com

About Richards Barry Joyce & Partners, LLC
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company’s focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners’ unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services. For more information, please visit our website at www.rbjrealestate.com. Follow us on Twitter at @RBJ_Partners.

Editor’s Note: On September 9, 2013, Houston-based Transwestern announced the acquisition of Richards Barry Joyce & Partners. Richards Barry Joyce & Partners will begin operating as Transwestern RBJ on November 1, 2013.

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