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April 25, 2023

Worcester tax firm buys historic Main Street building for expansion

A corner building with limestone facade and rounded corner Photo | Timothy Doyle The Worcester Five Cents Bank building at 316 Main St. in Worcester

Worcester-based tax and business advisory firm Cunningham & Associates purchased the former Worcester Five Cents Bank Building in Worcester to expand its business.

"We are pleased to announce the acquisition of this new property," Cunningham & Associates Managing Director Thomas Cunningham said in a Tuesday press release. "The purchase of this new building is a reflection of our commitment to our clients, our team, and the Worcester community.”

Whiskey Lounge, a hookah bar on the first floor of the building, will continue to operate independently under the new landlord.

C&A plans extensive renovations to the office building to accommodate the growing company. The updated building is expected to open in late 2023.

"As we continue to grow our business nationally, we are still committed to Worcester and its rich business history. We are excited to contribute to the continued revitalization of the downtown area and look forward to calling this new building our home," Partner Ryan Foley said in the press release.

The six-story building at 316 Main St. was built in 1891 and is part of the National Parks Service’s National Register of Historic Places. The property was sold by JNJ Realty LLC of Worcester for $1.7 million on Monday, according to the Worcester District Registry of Deeds. Worcester law firm Bowditch and Dewey facilitated the transaction.

"We believe that by investing in this city, we can help it thrive and grow alongside our business," Cunningham & Associates Partner Bryan Acuto said in the release.

JNJ last bought the building for $1.4 million in 2018. The property is assessed by the City of Worcester for $1,136,200.

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