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Tue, Aug 3
A Compendium of Property & Capital News
Aug 3
A Compendium of Property & Capital News

Former Worcester School / Nearby Industrial Property Totaling 92,000 SF Traded By Marcus & Millichap

May 01, 2021
50 Richard Street, Worcester MA

WORCESTER — Marcus & Millichap’s Boston office recently completed the sales assignment of two properties in Worcester. 50 Richland Street, a 75,000 square foot educational property sold for $2,450,000. Nearby 26 Cambridge Street, a 21,832-square foot industrial property sold for $625,000, according to Thomas Shihadeh, regional manager of the firm’s Boston office.

Harrison Klein, an investment specialist at Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a developer, was secured and represented by Klein and Mark Lyman, investment specialists in Marcus & Millichap’s Boston office.

“These two transactions couldn’t be more different but are both good testaments to the strong activity we are seeing in Worcester right now,” affirmed Mark Lyman. “We’re excited to get these to the finish line and continue doing business in this city.” Klein furthered, “This marks The Klein Group’s seventh and eighth closings in Worcester in under two years. The resiliency of this market through Covid-19 is a testament to the strength of the urban renewal boom that has revitalized Worcester over the past decade.”

26 Cambridge Street, Worcester MA