Canton, MA – Calare Properties has leased 53,500sf at 15-21 University Road in Canton to Prodrive Technologies. The Netherlands-based technology research, product development, and manufacturing company will relocate its U.S. headquarters to the property, located at the juncture of Route 128 and I-95.
Calare purchased the 107,600sf industrial/flex building in October 2017 in an off-market transaction.
This lease follows an extensive capital upgrade program, that has involved the addition of new parking lots, updated roofs, interior renovations, upgraded mechanical systems, new landscaping and external cosmetic enhancements. The property also features 14 loading docks, six drive-in docks, over 300 parking spaces and flexible floor plans.
Prodrive has committed to a 10.5-year lease with plans for a September 2019 move following the build-out of its space.
The company will implement additional improvements to support its research and development, manufacturing and distribution needs.
Steve Clancy of CBRE brokered the deal on behalf of Prodrive. Tony Coskren of Newmark Knight Frank represents Calare.