Gardner, MA (PRWEB) May 31, 2012
Hackman Capital and Calare Properties, Inc. announced today that TerraTherm, a worldwide leader in the development and implementation of in situ and onsite thermal remediation, has leased the 67,200 square foot facility at 151 Suffolk Lane in Gardner, Massachusetts. The company moved its corporate headquarters, manufacturing and R&D operations into the high-image, signature facility on May 2.
James and David Stubblebine of the Stubblebine Company represented the landlord in lease negotiations. The building is asset-managed by Calare Properties and Hackman Capital in association with KBS Real Estate Investment Trust.
"We're thrilled to have TerraTherm as a tenant, and happy we could accommodate their needs so quickly," said leasing director Phil Smith of Calare Properties. According to Smith, the transaction was a prime example of landlord flexibility and responsiveness—the transaction was completed in a matter of weeks.
"The building is an ideal location for TerraTherm's corporate offices," said Smith. Situated in the Summit Industrial Park—a master-planned, 125-acre campus, minutes from Route 2—151 Suffolk Lane is high on image and heavy on power. In addition to its robust infrastructure, the attractive facility offers large modern offices, abundant parking, ample loading and because of its location, immediate access to specialized suppliers and a highly skilled labor pool.
The Gardner facility is part of the National Industrial Portfolio, which includes 26 industrial properties with more than 11 million square feet of net rentable space. The bulk of the properties are located in key New England distribution markets, but the portfolio also includes properties in New York, Pennsylvania, Colorado and Texas.
TerraTherm, Inc. is an international leader in the development and implementation of in-situ and on-site thermal remediation of toxic contaminants. The company designs, builds and operates projects from concept to closure, using Thermal Conduction Heating (TCH), Steam Enhanced Extraction (SEE), Resistance Heating, and combinations of the above. With offices in Massachusetts and California, and sublicensees such as Krüger A/S (eight European countries), Provectus Group (UK), Thermal Cleaning Technologies (Middle East), and SheGoTec (Japan), the company offers services worldwide. For more information, visit http://www.terratherm.com.
About Hackman Capital
Hackman Capital is a privately-held investment firm specializing in industrial real estate and equipment. Founded in 1986, the company has been a principal investor in more than $800 million in real estate and has conducted equipment transactions on four continents. Hackman Capital currently manages for its affiliates more than 14 million square feet of real estate across the United States, including 50 buildings and 950 acres of developable land. The company is based in Los Angeles. For more information, visit http://www.hackmancapital.com.
More About Calare Properties
Calare Properties, Inc. is a real estate investment manager serving institutions and high net worth individuals. Since 2000, Calare has organized five private equity funds and several joint ventures to acquire and redevelop value-added real estate investments. Today, Calare has over $150 million of equity under management, which is invested in a diverse portfolio valued at over $600 million. Calare has a proven track record of acquiring, redeveloping, and disposing of underperforming commercial real estate assets. For more information, visit http://www.calare.com.
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