The ownership behind longtime Worcester restaurant Peppercorn’s Grille and Tavern now owns the property the business operates from, after purchasing the site from the Trustees of Clark University for $1.05 million. The sale of 455 Park Ave. was finalized on Monday and sees an entity managed by Peppercorn’s owner Thomas M. Oliveri take over ownership […]
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The ownership behind longtime Worcester restaurant Peppercorn's Grille and Tavern now owns the property the business operates from, after purchasing the site from the Trustees of Clark University for $1.05 million.
The sale of 455 Park Ave. was finalized on Monday and sees an entity managed by Peppercorn’s owner Thomas M. Oliveri take over ownership of the site, according to Worcester District Registry of Deeds records.Â
The university sold the property in order to focus on institutional priorities, according to a statement provided by Clark University Media Relations Manager Angela Bazydlo.
“Clark University owned the property at 455 Park Ave. for more than 25 years, and we have enjoyed a very strong and positive relationship with the current tenant, Peppercorn's,” the statement reads. “The restaurant is a neighborhood gem. Our interest in selling the property was entirely due to efforts to focus on institutional priorities. We are pleased we were able to come to terms with the owner of Peppercorn's and that they will continue the Peppercorn’s tradition.”
Peppercorn’s was first opened in 1995 by well-established restauranteur Thomas J. Oliveri, Thomas M. Oliveri’s father, who founded Oli’s in West Boylston, and Prezo Grille & Bar in Milford.Â
Thomas J. Oliveri passed away in 2024, according to a Worcester Telegram & Gazette obituary.
The site has been a launching pad for a number of craft breweries, including Wormtown Brewery, which was co-founded by Thomas M. Oliveri, and Flying Dreams Brewing, which eventually moved to Marlborough, before announcing its upcoming closure on Dec. 27.Â
Peppercorn’s is currently the site of Double Down Brewing.
Clark had acquired the 1.76-acre property in 1997 for $715,000 from Commerce Bank & Trust Co. following a foreclosure, according to registry records. The 10,256-square-foot building dates back to 1935, according to City of Worcester property records.  Â
The property received a 2026 tax assessment value of $1.9 million.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries. 
