Franklin Realty Advisors Inks Two Downtown Worcester Deals for Nearly 10,000 SFMarch 16, 2019
WORCESTER—A lease agreement with the Department of Industrial Accidents, the court system for workers’ compensation cases in Massachusetts, has been signed with Franklin Realty Advisors and the developer of Mercantile Center. After a competitive process in which Franklin Realty Advisors submitted a bid to the state, Mercantile Center was chosen for the move of 13 employees from 340 Main Street into approximately 7,686 rentable square-feet on the 3rd floor of 100 Front Street for a 10-year lease term.
Don Mancini, Principal at Kelleher & Sadowsky and Broker on the transaction expressed his optimism towards the addition of the DIA. “The Commonwealth received many proposals for the Department of Industrial Accidents office requirement and we are honored and excited that after considering all viable options in the market, they happily settled on Mercantile Center as its new home for the next decade,” said Mancini in a release.” “The custom-designed space at Mercantile Center will be a substantial upgrade for its employees and visitors in terms of quality, parking, and operating management,” he added.
Within the same timeframe, Stability Health, LLC, a Worcester-based Health Care service with a focus on diabetes, inked a three-year lease agreement with Franklin Realty Advisors, for approximately 1,999 rentable square feet on the 4th floor of 120 Front Street, downtown Worcester.
Out of a combined total of 420,000 SF representing 100 and 120 Front Street, more than 90,000 has been leased in the past 12 to 14 months. With 252,000 SF of rentable space, the 100 Front Street Class A office tower is now 98 percent occupied.
Leasing for 100 and 120 Front Street was handled by Jim Umphrey, Will Kelleher and Don Mancini at Kelleher & Sadowsky Associates.Donald Mancini