Calare Properties has sold a 5.63-acre site suitable for multi-family development in Stoneham, Massachusetts to a national apartment developer. The price of the property, which includes a warehouse/office building, garage and parking spaces was not disclosed.
Situated at 95 Maple St., Calare purchased the property in 2020 and worked on re-permitting efforts to allow for multi-family housing development with proposed plans including approximately 270 residential units.
Tim Collis, VP of Acquisitions at Calare said: “When we purchased 95 Maple three years ago we recognized its incredible potential as an ideal location with optionality for future development.”
