by Bogdan Odagescu, Associate Editor
Boston—Los Angeles-based Hackman Capital Partners and Hudson, Mass.-headquartered Calare Properties recently announced the closing of a long-term lease renewal with Home Depot at 625 University Ave. in Norwood, Mass.
Cathy Minnerly and Ovar Osvold of NAI Hunneman represented the landlord, while Bob Gibson and Tony Kepano in CBRE’s Atlanta office represented Home Depot. The building is owned by a joint venture that includes Hackman Capital, Calare and KBS REIT. PMRG is the property manager.
Home Depot signed once more for roughly 218,000 square feet at the 439,8630-square-foot property, which also houses PODS and ASD Lighting. The building sitting on a 2.5-acre plot is currently 100 percent occupied by the three tenants.
“Home Depot has been a valued tenant at 625 University Ave. over the years. Their space offers ideal ceiling heights, extensive paved outside storage, ample loading, 4 CSX rail spurs, and a central location with easy access–a very unique and rare opportunity,” said Minnerly in prepared remarks. The industrial building features 28 dock doors, 324 trailer parking spots, 209 car parking spots, as well as 3,200-amp electric service with 75 KW back-up generator.
An adjacent property owned by the same joint venture, 615 University Ave., is currently offering 19,592 leasable square feet free of contract.
Image courtesy of Hackman Capital Partners