April 11, 2007
Worcester biz center sold
By Matthew L. Brown
The Worcester Business Center at 67 Millbrook St. has been sold for $10.4 million, according to Worcester commercial real estate firm Kelleher & Sadowsky Associates Inc.
Brokers finalized the deal for the 245,000-square-foot building March 30.
The new owners are Worcester Business Center LLC, which bought the more than 13-acre property from Worcester Millbrook LLC.
Under the new ownership, the property will be managed by two Boston firms: Franklin Realty Advisors and Suffolk Ventures.
According to Kelleher & Sadowsky, the building's new owners plan an extensive exterior renovation to be completed in the next nine months.
Also, 75,000-square-feet of vacant space in the building will be renovated.
The building is currently 67 percent leased by 40 tenants.
Brokers finalized the deal for the 245,000-square-foot building March 30.
The new owners are Worcester Business Center LLC, which bought the more than 13-acre property from Worcester Millbrook LLC.
Under the new ownership, the property will be managed by two Boston firms: Franklin Realty Advisors and Suffolk Ventures.
According to Kelleher & Sadowsky, the building's new owners plan an extensive exterior renovation to be completed in the next nine months.
Also, 75,000-square-feet of vacant space in the building will be renovated.
The building is currently 67 percent leased by 40 tenants.
WBJ Web Partners
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