Worcester Business Journal
At a time when some of the bigger commercial real estate firms in the U.S. are laying off workers, Kelleher & Sadowsky Associates Inc. is in growth mode.
The full-service commercial brokerage and advisory firm based in Worcester had a strong year of investment property sales and exciting commercial projects. The firm is the broker for Franklin Realty Advisors’ Mercantile Center, the premier mixed-use property that has helped change the face of downtown Worcester. Tenants like Ruth’s Chris Steak House, The Mercantile, and the new Harpoon Brewery beer garden opened last year.
Outside of the city, Kelleher & Sadowsky has been expanding its footprint further into MetroWest. The company signed an investor on a long-term lease for the former Sports Authority on Donald Lynch Boulevard in Marlborough, which will be turned into a facility for Northborough manufacturer Aspen Aerogels. On the same street, the company leased another space to Lifeline Systems Co. for a headquarters and medical alert response center. Kelleher & Sadowsky is handling the leasing of the 111 Speen St. office building in Framingham, which is highly visible from I-90.
“It’s sort of a flag for how far east Kelleher & Sadowsky has pushed,” said a spokesman for the company.
Looking into 2023, with rising interest rates and inflation, William Kelleher, IV said the company is looking for ways to position itself well for its clients. Meghan Liddy, the company’s senior vice president of capital markets, can help clients with debt placement so they’re in the best position they can be from a financing perspective, Kelleher said.
Whatever happens next year, Kelleher said, one thing is for sure: Worcester is a hot market.
“I see on a week-to-week basis people from all over the country looking at Worcester. That wasn’t the case 10 years ago,” he said.