Accounting firm leaves Worcester Plaza after proposed rent increase
Photo | Grant Welker
The Worcester Plaza was purchased by a Boston firm looking for tax breaks.
Worcester accounting and financial services firm Cerrone, Graham & Shepherd have become the latest company to leave Worcester Plaza, often referred to colloquially as the glass tower, in the city’s downtown, managing partner Paul Cerrone confirmed on Thursday.
The plaza is a 24-story glass skyscraper located at 446 Main St. and the tied for the tallest building in Worcester. It was sold to Boston commercial real estate firm Synergy Investments for $16.5 million last October.
Cerrone said the firm was at the end of its lease for the building, where the company did business for 15 years. The plaza’s new owners, he said, proposed a lease agreement the accounting firm didn’t think was financially viable, although he noted the company left on positive terms.
“It didn’t make economic sense to stay, especially where they want to renovate the building,” Cerrone said.
The cost of rent Synergy proposed was priced as though such renovations were already complete, he said.
Cerrone, Graham & Shepherd has since relocated to 370 Main St., where the space it occupies has already been renovated, he said.
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