Updated at 5:20 p.m. on July 29.
FRAMINGHAM – Complementing a growing property portfolio in Framingham, Calare Properties (Calare) has completed the purchase of 100 Staples Drive.
The property was purchased $9.5 million, according to the Massachusetts Registry of Deeds.
The City of Framingham assessed the property in 2021 at $21.6 million.
The 160,925 sq. ft. corporate campus has been purchased vacant, offering prime Class A office/lab space with convenient access to local highways and amenities.
100 Staples Drive was owned by CSHV STAPLES, LLC.
Last February, Staples sold its 500 Staples Drive campus for $165 million. It was assessed in 2020 for $71 million. The City of Framingham assessed that property in 2021 at $76.4 million.
100 Staples Drive provides corporate office tenants contemporary space in a true corporate headquarters environment with neighbors such as Staples and Bose to name a few.
The building also sits in a growing lab cluster (Sanofi Genzyme, Repliume, CRISPR) and can serve the growing lab market at a significant discount to urban locations.
“Framingham is quickly growing as a hub for life sciences research, development, and manufacturing within the MetroWest region’s thriving biotech ecosystem,” said Todd Barclay, SVP of Acquisitions at Calare. “100 Staples Drive enhances our portfolio in the region and provides potential tenants with a world-class facility for innovation and collaboration.”
The five-story property is situated on 11.5 acres with well-appointed tenant amenities, including an outdoor patio, fitness center, dining area, collaboration and conference space, and extensive parking including a three-story garage. Floor plates are open and flexible, allowing both office and lab tenants to customize space for their evolving needs.
There are plans in place to update the lobby with a café/coffee bar and implement new clean building technology including automatic doors, touchless buttons and enhanced ventilation.
100 Staples Drive is located just minutes from major highways – including Route 9, the Mass Pike (I-90), and Interstates 95 & 495 – for easy access to Boston and beyond. The property sits centrally in a robust business center, home to more than 50 major corporate offices, retailers, restaurants, and other amenities. To learn more about 100 Staples Drive and potential leasing opportunities please visit our website at www.100staples.com or contact Danielle Simbliaris at Danielle.Simbliaris@CBRE.com.
Calare Properties is a private real estate manager and operator focused on acquiring warehouse, manufacturing, research and flex/office commercial real estate for the economic benefit of our investors and strategic partners. Since the firm’s inception in 2003, Calare has led the acquisition of over 19 million sq. ft. of properties representing $900 million in transactions through funds, direct deals and a multi-asset portfolio.