Marlborough's South Street Business Park Sold For $14.2M

MARLBOROUGH, MA — Marlborough's South Street Business Park was sold for $14.2 million. The 14.5-acre site, at 417 South St., sits two miles from I-495 in Marlborough’s commercial district. Calare Properties sold the space.

Calare purchased South Street Business Park in 2011 through a foreclosure sale in shell condition. The property was built in 2010 and includes flexible floor plates, 20-foot ceilings, 15 loading docks, and over 200 parking spaces with additional land for future expansion.

The space already has four tenants: IEP Technologies, BWT Pharma & Biotech, Mintra, and Metropolitan Warehouse & Delivery.

“Calare recognized the strategic value of this asset as one of the few newly built industrial properties in the market at that time, and we’re pleased with the returns we are able to deliver our investors over the hold period,” said Todd Barclay, VP of Acquisitions at Calare. “With a diverse tenant roster and unique position among the newer industrial properties in the market, we are confident the new owners will continue to see value in this property.”