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April 22, 2024

Piccadilly Plaza developers abandon demolition plans, bring in new tenants

Photo | Grant Welker Piccadilly Plaza on Shrewsbury Street in Worcester

After originally planning to demolish the existing buildings at Piccadilly Plaza in Worcester, developers behind the plan have shifted course and are now in the process of welcoming a handful of new tenants to the plaza, including a new upscale Brazilian steakhouse.

The owner of the property, American East Coast II, LLC, originally planned to demolish the two existing buildings at the site replace them with new structures containing a Digital Federal Credit Union and a Starbucks location, but after the City of Worcester declined to approve plans for a drive-thru at the site, American has pivoted to lease existing space in the structures.

The largest space on the property, the former site of the Piccadilly Pub restaurant, which gave the plaza its name and closed in 2012, will soon open as Churrascaria Tropeira’s Grill, an upscale Brazilian steakhouse. This site was formerly operated by Terra Brasilis Restaurant, a different Brazilian steakhouse since moved its location to White City Shopping Center in Shrewsbury.

Upgrades to the building are underway, with Churrascaria planning on opening at some point this summer. 

Another new tenant is Compass, a New York-based residential real estate firm with more than 300 offices across the country. This is the company’s first office in Central Massachusetts and is operated by Christopher Collette.

A ribbon cutting will be held for the Compass office at 3:30 p.m. on Thursday at the plaza.

Additional new tenants include Sculpt Pilates studio, which is opening Sunday, and True Woo Self-Care Studios, a spa already open.

“It’s been a big transitional period for the plaza, and we considered a lot of different options,” said Dusty Burke III, sales associate at American Commercial Real Estate, “At this point, we're extremely excited about what we have going on now.”

American Commercial is serving as the leasing representative for the property. The property’s ownership includes Joe Evans, vice president of American Commercial. 

One 2,000-square-foot retail space is still available for lease on the first floor, along with additional office space on the building’s lower level. 

American East Coast purchased the property in January 2021 for $3.2 million. The plaza was built in 1987 and given a tax assessment value of $3.5 million in 2024, according to City of Worcester property records. 

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