News2020-03-10T19:08:06+00:00

RECENT NEWS

Mercantile Center Secures Construction Financing For Downtown Eatery

Worcester Telegram & Gazette
July 2020

WORCESTER – The Mercantile Center’s planned two-story rooftop bar and restaurant will be financed through a $4.2 million purchase and construction financing agreement with Webster Five, according to Charles “Chip” Norton, owner of 2 Mercantile LLC.

These U.S. Cities Are Likely to Recover Faster From Lockdown

Bloomberg
June 2020

In normal times, it would be hard to find obvious similarities between Worcester, Massachusetts; Madison, Wisconsin; and California’s Bay Area. But after being ravaged by a pandemic that caused nationwide lockdowns, these regions are among those poised for a relatively strong recovery from the coronavirus recession.

WuXi Biologics To Build $60 Million Biologics Production Facility

New England Real Estate Journal
June 2020

WuXi Biologics and Worcester Business Development Corporation have signed a land deal for WuXi Biologics’ clinical and commercial manufacturing facility (MFG11) at The Reactory, a 46-acre master-planned biomanufacturing campus in Worcester, Mass. WuXi's $60 million, 107,000 s/f, two-story facility will be operational in 2022 and create 150 new jobs. Representing the WBDC, the seller of the property, was James G. Umphrey and Drew C. Higgins of Kelleher & Sadowsky.

WBJ 2020 Power 50: James G. Umphrey

Worcester Business Journal
May 2020

Check out any major real estate purchase or development in Worcester in the past five years, and you’ll likely see Umphrey’s fingerprints all over it. In his role as head of the largest commercial real estate firm in Central Mass., Umphrey seemingly has been involved in every major transaction in the Worcester region, including the Mercantile Center in 2015; Worcester Plaza, a 24-story downtown office tower in downtown, last fall; the Guaranty Building on Main Street in 2014; Reliant Medical Group’s major new office next to the Greendale Mall in 2017, just to name a few.

After Growth in 2019, Real Estate Selling Brokers Prepare For Headwinds

Boston Business Journal
April 2020

While it remains to be seen how the COVID-19 pandemic will ultimately affect the real estate market this year, there was good news last year for several firms on the list of the largest commercial real estate selling brokers in Massachusetts.

About half the firms on the list achieved significant year-over-year […]