A rendering of 1-290Connector after Chacharone finishes capital improvements on the property, which are set to be finished in 2022.
Worcester Business Journal
The former Allegro MicroSystems building at 115 Northeast Cutoff in Worcester has been rebranded as I-290Connector, as Worcester-based developer Chacharone Properties renovates the 130,000-square-foot former Allegro building into flex/lab space.
The 40-acre property also includes a 50,000-square-foot office building and 21,000 square feet of storage space, according to a Monday announcement from Worcester commercial real estate broker Kelleher & Sadowsky Associates, Inc, which is marketing the former Allegro building.
The building will be marketed to Boston and Cambridge tenants in the life sciences and healthcare industries, per the announcement. Chacharone’s capital improvements to the building are set to be completed in 2022 and will be tailored to the needs of future tenants.
“Not only does the I-290Connector offer the largest available flex/lab/office space in the market, but it also places its tenants in proximity to a thriving life sciences ecosystem,” Phil DeSimone, executive vice president of Kelleher & Sadowsky, said in a statement.
Chacharone bought the property for $3.9 million in 2019, about a year after Allegro Microsystems moved to Marlborough.
The I-290Connector building is now one of several in Worcester being marketed to life sciences tenants. Others include the $50-million building from Webster developer Galaxy Life Sciences in the biomanufacturing campus The Reactory, and the $16-million Left Field Building next to Polar Park in the Canal District.
By Katherine Hamilton