NAI Hunneman’s Leasing & Advisory Services Group completes 221,605 SF In Leasing at 625 University Ave
Minnerly & Osvold represent Hackman Capital and
Calare Properties in two transactions, bringing occupancy level
to 97.6% at Norwood Industrial Property
BOSTON, MA - NAI Hunneman recently completed two transactions totaling 221,605 SF at 625 University Ave in Norwood. PODS Enterprises leased Space A in its entirety totaling 122,692 SF, expanding its space and relocating from its current facility at 675 Canton Street in Norwood. PODS is an industry leader in moving and storage operating over 20,000 locations in the United States, Canada, Australia and the UK. PODS has completed over 600,000 long-distance moves, two million deliveries and has 150,000 containers in service.
ASD Lighting Corp, an innovative British manufacturer of lighting, leased all of Space B for 98,913 SF. The company, which has been operating in the UK for over 30 years, designs, manufactures markets and distributes a broad range of domestic and commercial lighting supplies. ASD Lighting is currently leasing 25,849 SF at 120 Shawmut Road in Canton, and is adding the space at 625 University Avenue for its warehouse operations.
NAI Hunneman Executive Vice President Cathy Minnerly and Vice President Ovar Osvold represented the landlord Hackman Capital Partners of Los Angeles and Calare Properties of Hudson, Massachusetts. Ed Jarosz of Jones Lang LaSalle represented PODS, and Tony Coskren, also of Jones Lang LaSalle, represented ASD Lighting.
“Both tenants were drawn to the building’s first-class and efficient space, along with its prime location directly off a major highway (Interstate-95)”, said Minnerly. “In a constrained market it’s becoming harder to find space of this quality, and there is still an additional 19,592 SF available in an adjacent building at the property—a rare find with today’s market conditions.”
Located directly off Interstate 95, 625 University Ave is set in a popular commercial area adjacent to a wealth of area amenities including Westwood Station. The property at 625 University Avenue offers tailboard as well as drive-in loading, 21’ - 54’ clear heights, generous column spacing and excellent utilities. The property is owned by a joint venture formed by Hackman Capital Partners, Calare Properties and KBS Real Estate Investment Trust. The property was purchased in 2007 as part of an 11.36-million-square-foot portfolio. Hackman Capital Partners manages the property.
About Hackman Capital
Founded in 1986 and headquartered in Los Angeles, Hackman Capital Partners is a privately held, asset-based investment firm that focuses on the acquisition of industrial real estate and the purchase and sale of industrial equipment. The firm currently owns, through its affiliated entities, more than 200 properties throughout the United States, totaling approximately 25 million square feet and representing more than $1 billion in assets. With more than 29 years of experience in acquisition, redevelopment and asset management, Hackman Capital Partners is known across marketplaces for its ability to successfully navigate complex transactions and financial restructurings involving real estate and equipment. For more information, visit hackmancapital.com
About Calare Properties
Calare Properties is a privately owned, Massachusetts-based investment firm with a focus on value added industrial and flex/office real estate in the Northeast. Since the firm's inception in 2000, Calare has invested over USD 200 million of equity capital, representing over USD 600 million in assets through five funds and several other investment vehicles on behalf of select private and institutional investor partners. Calare’s senior management team has over 80 years of combined experience in real estate and investment management. For more information, visit calare.com
About NAI Hunneman:
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member of NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 6,700 professionals and 375 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. To learn more about NAI Hunneman and the NAI Global Network please visit naihunneman.com.