WBJ 2024 Power 100:  William Kelleher IV and James Umphrey

Worcester Business Journal
April 2024

Long before the Greater Worcester commercial real estate market was attracting attention from around the country, Kelleher & Sadowsky Associates had firmly established itself as a go-to real estate broker in the region. Chances are, if you are buying, selling, or leasing commercial property in Central Massachusetts, you’re dealing with the firm run by Jim Umphrey and Will Kelleher.

In the last two years, Kelleher & Sadowsky has been involved in several high-profile transactions. This includes the $10.5-million sale of the two-building Worcester commercial complex known as Chestnut Place, which is now planned for apartments; the $32-million sale of the former headquarters of BJ’s Wholesale Club in Westborough, the $4.05-million sale of the former Chuck’s Steak House and Margarita Grill in Auburn to allow for the construction of a new firehouse, and a number of lease deals helping the Mercantile Center high rise in Worcester reach 98% occupancy, the highest rate since the high-rise complex was constructed in the 1970s. That last fact is particularly impressive when considering the current trend of companies abandoning physical office space in favor of remote work.

Kelleher joined the firm in 2000 following a sales career in Boston, while Umphrey has been there since 1985, when he joined the company as an intern.

Despite all the plans for developments in Worcester, challenges for commercial real estate lay ahead, as rising construction and labor costs and economic uncertainty threaten to interrupt existing and future projects. Still, real estate will always remain vital to the local economy, and with the experienced Kelleher and Umphrey at the helm, the firm should remain one of the region’s most important businesses.