Success Stories2019-10-16T14:01:56+00:00

SUCCESS STORIES

Every real estate transaction is different from one another. The test of a great brokerage firm is their ability to see inside the many particulars of a given situation and find ways to add value and creative solutions that others might not see. Part of this is our unrivaled local knowledge and nearly four decades of experience. But equally it’s a matter of our commitment to helping clients, because that’s the kind of thing clients tend to remember.

Senior Housing Properties Trust and The RMR Group

Facing a tight deadline, Worcester-based Kelleher & Sadowsky and the Boston office of Jones Lang LaSalle (JLL) were tasked with the assignment to sell 12 medical office properties located throughout Central Massachusetts on behalf of Senior Housing Properties Trust (SNH), a healthcare Real Estate Investment Trust (REIT), and its Newton-based commercial real estate management firm, The RMR Group.

The 12 properties had been occupied by one tenant, Reliant Medical Group. Reliant had recently been acquired by OptumCare, the healthcare delivery arm of publicly-traded UnitedHealth Group. Shortly thereafter, OptumCare decided to recapitalize and sell a portion of its $8.7 billion of total assets. And, Reliant wanted to move into more modern space once its master lease for all properties expired in less than 12 months. Learn more.

The UMass Medicine Science Park

The UMass Medicine Science Park is one of the nation’s leading centers for biotechnology research and production, providing a nurturing environment for companies during all stages of growth. Ranging from start-up incubator space to full-building footprints, the five-building park accommodates a variety of quality office and laboratory tenants within an extraordinary 10-acre campus setting. The nearly 470,000 square foot park is home to dozens of biotechnology companies, as well as several non-profit and academic institutions.

When Kelleher & Sadowsky first became involved with the biotechnology research park, it was owned by Alexandria Real Estate Equities, a national real estate company uniquely focused on serving the life science industry. At the time, Kelleher & Sadowsky represented UMass Memorial Health Care in the search for biotech space that could provide laboratory and clean room environments for one of its thriving divisions, UMass Pathology. Learn more.

Mercantile Center

Mercantile Center is a 675,000 square foot mixed use property in downtown Worcester, currently owned and operated by Franklin Realty Advisors of Wellesley, Massachusetts. Kelleher & Sadowsky sold the property to Franklin Realty Advisors and Great Point Investors in October of 2015. In November of 2018, the Kelleher team raised $19.5 Million in new equity as well as arranged for $70.0 million in new debt. All four banks that provided the financing for the project, as well as the equity raised are all local.

After retaining the Kelleher team for both leasing and mortgage brokerage services, many of Worcester’s finest companies have stepped forward to fill prime space in Mercantile Center’s two office towers. Tenants such as Barton Associates, Rockland Trust, Peoples Unites Bank, Tighe and Bond, VHB, Knight Dik Insurance and Quaker Special Risk have all committed to Mercantile Center with long-term leases, totaling more than 85,000 +- square feet of recent leasing activity. Learn more.

Rabina Properties

Rabina Properties, a New York real estate investment firm, owns two adjacent warehouse/distribution properties at 26 and 28 Millbury Street in Auburn, Massachusetts totaling 660,000 square feet. After several years of significant vacancy, Kelleher & Sadowsky was retained to market properties, including all aspects of lease negotiations, buyouts and lease extensions.

Today, the property has been stabilized with four excellent tenants, including Interline Brands (a subsidiary of Home Depot), Karl Storz Endoscopy, Imperial Distributors and Midstate Packaging, which has now made this property into a long-term stabilized asset. Learn more.