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Greater Worcester Community Foundation to Move Into One Mercantile

Worcester Business Journal
August 2023

The Greater Worcester Community Foundation will leave its office at 370 Main St. in Worcester for a new space at One Mercantile, Suite 010 – the formerly named Unum Building – according to a LinkedIn post by the nonprofit.

The new office is 4,500 square feet and should be open on Sept. 1, said James Cozza, senior vice president at Worcester real estate brokerage Kelleher & Sadowsky Associates.

The announcement comes just after GWCF’s new President & CEO Peter Dunn took office on Aug. 1. The foundation has $175 million in assets, according to nonprofit data firm Guidestar.

One Mercantile is owned by Florida-based Benderson Development Co. It is leased to Tennessee-based insurance company Unum. Unum changed its strategy after leasing the building and moved to a work-from-home model for its employees. Property manager Franklin Realty Advisors of Wellesley and Worcester brokerage Kelleher and Sadowsky Associates have been working to fill the building with subleased tenants.

Kelleher & Sadowsky Principal Will Kelleher, Executive Vice President Philip DeSimone, and Senior Vice President James Cozza represented Unum in the transaction. Principal James Umphrey and Associate Ross Miner represented GWCF.

The foundation is leaving the 190,000-square-foot Guaranty Building at 370 Main St. That property is owned by 370 Main Street GBB, LLC of Leominster and managed by Guaranty Management of Worcester.

GWCF’s current office at 370 Main St., Suite 650 is 5,615 square feet, according to real estate website LoopNet.

GWCF’s departure from the Guaranty Building comes months after Worcester law firm Fletcher Tilton announced in May that it was leaving its 30,000-square-foot offices at the Guaranty Building for 20,000 square-feet at The Mercantile Center’s 100 Front St. office tower.

By Timothy Doyle