Boston, May 3, 2017 – Colliers International, Boston announced that it recently arranged the $4.2 million permanent refinancing of 121 Hale Street in Lowell, Massachusetts on behalf of Calare Properties. The 60,700 square foot flex building, renovated in 2009, is occupied by MACOM in support of their adjacent headquarters and fabrication facility at 100-144 Chelmsford Street. 121 Hale Street will benefit from the significant expansion and improvement of the headquarters facility and incorporation into a corporate campus.
"We were pleased to arrange very cost effective and flexible permanent debt to complement the financing Colliers arranged earlier this year for Calare’s acquisition and expansion of the MACOM headquarters next door," said Thomas Welch, Senior Vice President at Colliers International, Boston.
The property benefits from its exclusive on-site employee access to the Lowell MBTA Commuter Line station, immediate access to the Lowell Connector, and excellent proximity to Route 3 and Interstate 495.
The financing was arranged by Thomas Welch, Adam Coppola, John Poole, and Tonia Jenkins. The financing follows a $19.7 million acquisition and development financing arranged earlier in the year by the team for Calare’s acquisition of MACOM's headquarters.
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Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIGI is an industry leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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For further information, please contact:Christine Comey Lewis
InkHouse for Colliers International, Boston