New England Real Estate Journal
January 2021

In a survey of professionals in the commercial real estate industry, trade publication New England Real Estate Journal queried Kelleher & Sadowsky brokers, Jim Umphrey and Will Kelleher.

James G. Umphrey
Principal, Kelleher & Sadowsky

What was your greatest professional accomplishment or most notable project, deal or transaction in 2020?
Helping to bring biomanufacturing to Worcester! Representing the WBDC, the K & S team orchestrated two land parcel transactions at The Reactory, the 46-acre biomanufacturing campus in Worcester. In May, Shanghai-based WuXi Biologics purchased a 7 acre parcel to build a $60M+ clinical and commercial manufacturing facility. Construction of a 2-story 107K SF building is underway and due to be operational in 2022. In August, Galaxy Life Sciences purchased a 6 acre parcel to build a $50+ million multi-modal life sciences facility. Site work has begun and construction will begin in the spring.

Wiliam D. Kelleher, IV
Principal, Kelleher & Sadowsky

What are your predictions for commercial real estate in 2021?
Demand in the life sciences and industrial/warehouse sector will continue to be strong in Worcester County and the MetroWest region. Brand name biotech tenants with investment grade credit will continue to find opportunities beyond Cambridge and the Boston Seaport to develop safe, clinical lab spaces and scalable manufacturing capabilities. Record setting online spending during COVID has created voracious demand for different types of fulfillment and distribution centers. We expect a cast of major players to compete for the best locations in our region in an effort to build out their distribution ecosystems.