KBS Real Estate Investment Trust, Hackman Capital Partners and Calare Properties today announced the formation of a joint venture for the $516 million acquisition of an 11.4 million-square-foot industrial portfolio across seven states.

KBS REIT is an 80 percent joint venture partner in the deal. Hackman Capital Partners and Calare Properties will have a 20 percent stake in the portfolio.

The acquisition consists of 24 institutional-grade properties (31 buildings) and two developable land parcels totaling 39 acres. The portfolio was sold by Needham, Mass.-based Equity Industrial Partners Corp., who had been acquiring the properties over the past 15 years.

At the time of sale, the portfolio was 94.4 percent leased by 38 tenants, which included The Home Depot, Penn Traffic Co., Regency, Tyco International, Lego, Staples, Kraft Foods, Jabil, Coca Cola and Dial Corp.

The KBS/Hackman/Calare Industrial portfolio includes the following 24 properties:

  • 170 Highland Park Drive, a 449,000-square-foot warehouse facility in Bloomfield, Conn.

  • 85 Moosup Pond Road, a 530,500-square-foot warehouse facility in Plainfield, Conn.

  • 555 Taylor Road, five warehouse facilities totaling 1.19 million square feet in Enfield, Conn.

  • 15 Independence Drive, a 370,545-square-foot warehouse facility in Devens, Mass.

  • 50 Independence Drive, a 235,620-square-foot warehouse facility in Devens, Mass.

  • 1040 Sheridan, a 74,500-square-foot warehouse facility in Chicopee, Mass.

  • 1045 Sheridan, a 62,000-square-foot warehouse/refrigerated property in Chicopee, Mass.

  • 151 Suffolk Lane, a 68,000-square-foot light manufacturing facility in Gardner, Mass.

  • 1111 Southampton Road, a 652,000-square-foot warehouse property in Westfield, Mass.

  • 100-111 Adams Road, two warehouse facilities totaling 801,040 square feet in Clinton, Mass.

  • 100 Simplex Drive, a 658,017-square-foot flex/warehouse facility in Westminster, Mass.

  • 495-525 Woburn, two flex/warehouse facilities totaling 699,617 square feet in Tewksbury, Mass.

  • 480 Sprague St., a 233,000-square-foot flex/warehouse property in Dedham, Mass.

  • 625 University Ave., a 459,455-square-foot flex/warehouse facility in Norwood, Mass.

  • 57-59 Daniel Webster Highway, two light manufacturing facilities totaling 578,290 square feet in Merrimack, N.H.

  • 133 Jackson Ave., a 287,959-square-foot warehouse property in Ellicott, N.Y.

  • 1200 State Fair Blvd., a 567,800-square-foot warehouse property in Geddes, N.Y.

  • 3407 Walters Road, a 273,225-square-foot warehouse/refrigerated facility in Van Buren, N.Y.

  • 851 Beaver Drive, a 202,800-square-foot warehouse/refrigerated facility in Du Bois, Pa.

  • Shaffer Road & Rt 255, a 410,000-square-foot warehouse property in Du Bois, Pa.

  • 9700 W. Gulf Bank Road, a 245,319-square-foot light manufacturing facility in Houston, Texas

  • 1000 E. I-20, a 728,110-square-foot warehouse property in Abilene, Texas

  • 2200 S. Business 45, a 1.4 million-square-foot warehouse facility in Corsicana, Texas

  • 9410 Heinz Way, a 140,630-square-foot warehouse property in Commerce City, Colo.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription