Mercantile Center has two new tenants: The Commonwealth of Massachusetts Committee For Public Counsel Services (CPCS) and the law firm of Boyle-Shaughnessy Law. William Kelleher of Kelleher & Sadowsky represented the landlord on both transactions.
Jim Umphrey has worked in the Worcester real estate market for 35 years, and he can't believe what has happened over the past 18 months. "I've never seen anything like this," Umphrey said of the red-hot industrial market. A principal at Kelleher & Sadowsky, a commercial real estate broker in Worcester, Umphrey said rents for industrial properties skyrocketed over the past year-and-a-half, a stretch that includes the coronavirus pandemic.
Chip Norton, managing director at Franklin Realty Advisors LLC in Wellesley Hills, is one of several real estate professionals who see a bright future for Worcester's commercial office buildings. Another is Jim Umphrey, a principal at Kelleher & Sadowsky, a commercial real estate broker in Worcester that transacts lease deals for several clients including Norton. “I’m pretty optimistic things are coming back,” Umphrey said. “There’s good activity. It’s a lot better than a year ago.”