{"id":1004184614,"date":"2017-07-20T12:41:52","date_gmt":"2017-07-20T20:41:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004184614"},"modified":"2022-12-08T14:41:12","modified_gmt":"2022-12-08T22:41:12","slug":"calare-properties-buys-warehouse-secures-medical-marijuana-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/calare-properties-buys-warehouse-secures-medical-marijuana-lease\/","title":{"rendered":"Calare Properties Buys Warehouse, Secures Medical Marijuana Lease"},"content":{"rendered":"<p>By Alexandra Pacurar<\/p>\n<div id=\"attachment_1004184619\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/234-taylor-street-ma.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004184619\" data-attachment-id=\"1004184619\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/calare-properties-buys-warehouse-secures-medical-marijuana-lease\/234-taylor-street-ma\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/234-taylor-street-ma.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Alexandra Pacurar&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1500561183&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"234-taylor-street-ma\" data-image-description=\"&lt;p&gt;234 Taylor St. in Littleton, Mass. &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;234 Taylor St. in Littleton, Mass. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/234-taylor-street-ma.jpg?w=800\" class=\"wp-image-1004184619 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/234-taylor-street-ma.jpg\" alt=\"234 Taylor St. in Littleton, Mass. \" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/234-taylor-street-ma.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/234-taylor-street-ma.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/234-taylor-street-ma.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004184619\" class=\"wp-caption-text\">234 Taylor St. in Littleton, Mass.<\/p><\/div>\n<p>Calare Properties purchased 234 Taylor St. in Littleton, Mass. The new owner secured a 10-year absolute net lease with Premier Health Group LLC for the 36,000-square-foot warehouse. The tenant will also manage the <a href=\"https:\/\/www.commercialsearch.com\/news\/hackman-calare-pocket-124m-on-10-property-industrial-sale\/\">industrial facility<\/a>, which was previously occupied by VJ Electronix.\u00a0<\/p>\n<p>The one-story warehouse features 24-foot ceilings with eight tailboard docks and one drive-in door. The property is situated on a 6.3-acre lot that includes ample parking. It is also just off Interstate 495 and Mass Pike (I-90), in Middlesex County. The I-495\/Route 2 West submarket has a high demand for industrial assets, with a vacancy rate of 7.3 percent.<\/p>\n<h2>Planned cultivation facility<\/h2>\n<p>Premier Health Group LLC, affiliate of Sanctuary Medicinals Inc., is a\u00a0non-profit focused on providing organic medicinal marijuana, service and education to qualified patients. Premier announced the asset will undergo capital improvements meant to support the establishment of a cultivation facility for medical marijuana.<\/p>\n<p>Last year, Sanctuary Medicinals Inc. obtained the support of Littleton\u2019s Board of Selectmen to open the cultivation site at 234 Taylor St. According to Lowell Sun, the organization agreed to pay the town $50,000 per year in the first two years of the site\u2019s activity, $75,000 per year in the next two years and $100,000 each year thereafter. The payments are made in addition to normal property taxes. Also, the non-profit will make donations to local charities and its employees will volunteer for social work in town.<\/p>\n<p><em>Image courtesy of Calare Properties<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new owner acquired the industrial property in Littleton, Mass., and inked a 10-year lease with Premier Health Group LLC, an affiliate of a non-profit that provides organic medicinal marijuana to qualified patients. <\/p>\n","protected":false},"author":236,"featured_media":1004184619,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21784,21743,21748,21742,10],"tags":[33499,36872,36873],"class_list":["post-1004184614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-brokerage","category-deals","category-industrial","category-latest","category-northeast","tag-calare-properties","tag-premier-health-group","tag-sanctuary-medicinals-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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