Calare Properties leases additional 63,000 SF to award-winning brewery, Jack’s Abby Craft Lagers in Framingham, MA
Hudson, MA - September 13, 2016
Significant expansion brings Jack’s Abby to 130,000 SF at 100 Clinton Street in Framingham
Calare Properties (Calare), a private, Massachusetts-based real estate investment firm and operator, in partnership with Hackman Capital Partner, a privately-held asset based investment firm, announced today that it has leased an additional 63,000 square-feet (sf) of industrial space at 100 Clinton Street in Framingham, MA, to Jack’s Abby Craft Lagers.
100 Clinton Street is home to Jack’s Abby Craft Lagers which houses their growing brewery, and Jack’s Abby Beer Hall, a 175-seat, 5,000 SF restaurant featuring 24 of Jack’s Abby beers on tap and a menu centered around their wood-fired oven. Since leasing their first 67,000 sf at 100 Clinton Street in 2014, the brewery has created a “cult following” drawing customers from over an hour away to enjoy their specialty beer and pizza. Notably, Jack’s Abby recently won Boston Magazine’s coveted ‘Best of Boston’ award.
Calare and Hackman Capital were represented by CBRE/New England’s team of Bob Gibson, Executive Vice President/Partner and Steve Clancy, Executive Vice President/Partner.
“It’s been impressive to see Jack’s Abby’s strong following and significant growth over the past few years. We’ve enjoyed working with the Hendler brothers to support their business at 100 Clinton Street.” commented Bryan Blake, President and Executive Director at Calare. “I think Jack’s Abby is a great example of the benefit of working with local ownership like Calare. We’ve been able to structure their leases to support the speed of their growth and negotiate additional parking on their behalf; subsequently helping Framingham build this new ‘hip’ feel in the center of town.”
Gibson added “It’s not often you see an ownership group like Calare work with such an entrepreneurial spirit as we saw with Jack’s Abby. CBRE and Calare worked together to negotiate terms and benefits that have truly allowed the Jack’s Abby team to opportunistically grow very quickly and easily.”
As part of the Jack’s Abby continued expansion, Calare will provide $1.5 million in upgrades to the current warehouse and office space, including a new roof, elevator, windows, façade work and lighting.
“The Town of Framingham is proud of Jack’s Abby Brewing Company, which has grown from a startup to become one of the region’s most respected microbreweries,” said Arthur Robert, Director of the Town of Framingham’s Community and Economic Development Division. “Jack’s Abby is an excellent example of how Framingham nurtures and works with small businesses, and we’re pleased to see their continued growth here. The company’s expansion is another expression of private-sector confidence in the future of Framingham’s downtown.”
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.
About Hackman Capital
Hackman Capital Partners is a privately-held, real-estate investment and operating company that focuses on the acquisition of industrial properties, including complete facilities with industrial equipment. Hackman Capital also targets infill flex buildings, which the company redevelops for creative-office and other commercial uses.
The company is based in Los Angeles, California with regional offices in Columbus, Ohio and Boston, Massachusetts. It currently employs 82 people and manages approximately 300 major tenant companies nationwide, including Home Depot, Staples, Coca Cola, Lowe’s, Sony and Lego. For more information, visit Hackman Capital Partner
About Jack’s Abby Craft Lagers
Jack’s Abby Craft Lagers is a family-owned craft brewery in Framingham, MA founded by three brothers, Jack, Eric, and Sam Hendler. They are known for focusing entirely on craft lagers, honoring traditional German brewing methods while creating innovative new styles. Through their mission to redefine the American lager, Jack’s Abby has become a mainstay of the craft beer scene in the northeast and gained notoriety nationwide. In Fall 2015, Jack’s Abby completed a 67,000 sq ft expansion into a new space that included the opening of a restaurant.