Worcester Business Journal
May 2025
A medical office building on Worcester’s Vernon Street has been sold to a local real estate investment firm.
Vernon Medical Center II, located at 95 Vernon St., was purchased by an entity managed by GM Properties of Worcester for a total of $1.3 million across eight separate transactions finalized on May 1, according to Worcester District Registry of Deeds records. The property was formerly divided up among separate commercial condominium owners, but is now under the single ownership of GM.
GM is considering its options for the site, which could include redevelopment into housing or other uses, said George Markopoulos, principal of the firm and Markopoulos Development in Worcester.
“We are actively exploring a variety of expansion opportunities for the site, including commercial/medical uses as well as residential housing,” Markopoulos wrote in an email to WBJ. “Over the years, we’ve built a strong relationship with the city and look forward to working with them on future development.”
The three-story, 21,000-square-foot office building at the site was constructed in 1968, according to a listing for the property on real estate website LoopNet. The site contains 100 surface parking spaces.
Jim Umphrey and Drew Higgins of Kelleher & Sadowsky Associates in Worcester were the sole brokers on this sale.
Combined, the 10 commercial condominiums that formerly comprised the site were given a 2025 tax assessment value of $1.37 million, according to City of Worcester property records.
By Eric Casey
