Worcester Business Journal
A two-story medical and professional office building on Worcester’s Belmont Street near the campus of UMass Chan Medical School has sold for $2.29 million. Brian Johnson and Drew Higgins of Kelleher & Sadowsky Associates represented the seller and procured the buyer in this transaction.
Worcester Business Journal
Ascentria Care Alliance, one of the largest human service nonprofits in Central Massachusetts, is moving its headquarters from its location at 11 Shattuck St. to a larger space in Downtown Worcester.
Worcester Business Journal
The Strand Theatre in Downtown Clinton, a historic venue constructed in 1923, has been leased to an operating group which runs The Strand Dover in New Hampshire. Evan Koogler and Thomas Bodden of Kelleher & Sadowsky Associates coordinated the lease transaction on behalf of Concord-based Barrett Properties and in alliance with the Town of Clinton.
Worcester Business Journal
DATTCO, Inc., a motorcoach and school bus company based in New Britain, Connecticut, has purchased a 48.4-acre industrial property in Millbury for $3.5 million. Will Kelleher and Christopher Naff of Kelleher & Sadowsky Associates represented the seller and were the sole brokers in the transaction.
The conversion boom isn’t happening because downtown Worcester’s commercial real estate market is in trouble. Far from it. Worcester has a diversified economy with a growing office tenant base, including financial services, healthcare, education, life sciences, technology, and professional services. Class A office here is roughly 86% occupied—a vacancy rate of just 14%, compared to about 23% in Boston.
Commercial real estate in Worcester, Central Massachusetts, and the MetroWest region remains in a cautious state—but not at a standstill. Credit is still flowing for well-structured deals, and banks continue to lend, albeit with greater discipline. Developers with experience, strong equity backing, and a predictable project strategy are finding financing, even in a more cautious environment.
If cities were stocks, Worcester, Massachusetts would be the undervalued gem — still flying under Wall Street’s radar but showing all the signs of a breakout. It’s the kind of place where a sharp investor or bold CEO might casually say, “We saw it before they did,” and everyone else just nods, wishing they’d moved sooner.
