Calare Properties Leases 40,000 SF to OMNIlife science, Inc. at 480 Paramount Drive in Raynham, MA
Hudson, MA - May 6, 2016
Long-term lease provides new headquarters for established medical technology company
Calare Properties (Calare), a private, Massachusetts-based investment firm with a focus on industrial real estate, announced today that it has leased 40,000 square-feet (sf) of industrial/flex space to OMNIlife science, Inc. (OMNI) at 480 Paramount Drive in Raynham, MA. OMNI will relocate from its current location in East Taunton, MA, and occupy 100% of the building, which will serve as the medical technology company’s new headquarters.
Notably, this long-term lease transaction occurs within months of Calare acquiring 480 Paramount Drive in Q4 of 2015. The industrial/flex asset provides a highly- efficient working environment and is equipped with 20’ clear ceiling heights, eight tailboard doors, and 111 surface-level parking spaces. The building was originally constructed in 2004 and leased to a national tenant for an eight-year term, but never occupied, preserving its pristine condition.
“Leasing the entirety of 480 Paramount Drive so quickly after purchasing the facility is a testament to our ability to identify premier acquisition opportunities and execute a strategic leasing plan,” commented Bryan Blake, President of Calare. “Our hands-on ownership and property management teams will work closely with OMNI to get their new headquarters up and running, and we look forward to forging a strong relationship with the respected medical technology company.”
Located within the Route 495 South submarket, 480 Paramount Drive provides immediate access to Route 44 at Route 24. Additionally, the building is situated near the Raynham Woods Commerce Park, a 330-acre campus featuring a mix of retail and industrial users, numerous upscale restaurants, and premier shopping opportunities.
“480 Paramount Drive offered a premier home for OMNI’s new headquarters, featuring state-ofthe-art systems, fixtures, and distribution components,” added Rick Randall, President and CEO of OMNI. “We are confident that the space will allow us to continue our growth and we look forward to working with a knowledgeable ownership group like Calare.”
Steve Clancy, Executive Vice President/Partner of CBRE/New England’s Industrial team, represented OMNI in the lease transaction.
OMNI is a Massachusetts-based hip and knee implant replacements engineering, manufacturing, and distribution support company, and is focused on providing cutting-edge technologies to improve patient care.
About Calare Properties
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 15 million square feet of properties representing $650 million in transactions through funds, direct deals and a multi-asset portfolio. Further information is available at www.calare.com.