Mercantile Center owner buys UMass Memorial facility in Northborough for $11M
Photo | Courtesy of Franklin Realty Advisors
The property at 333 Southwest Cutoff in Northborough.
Franklin Realty Advisors, one of the largest owners of commercial property in Central Massachusetts, has purchased a 29,000-square-foot medical and office building in Northborough for $10.7 million.
The building is located at 333 Southwest Cutoff, across the street from one of the two entrances to the open-air shopping center Northborough Crossing, according to a press release from Franklin on Thursday.
UMass Memorial Medical Group’s ophthalmology department occupies almost two-thirds of the building. Also located inside of it is a CareWell Urgent Care, which works with UMass Memorial Health, the Worcester-based parent organization of the medical group.
In addition, 333 Southwest Cutoff houses 3Step Sports and New England Baseball Enterprises. It’s adjacent to the New England Baseball Complex.
Franklin Realty Advisors is based out of Wellesley, and the purchase of the Southwest Cutoff building means it is now the landlord for more than 150,000 square feet of space of various UMass Memorial Health locations. Charles “Chip” Norton is a managing director for the group, which has invested heavily in downtown Worcester, including the Mercantile Center. He also owns the Worcester Business Center and the Southbridge Innovation Center in Southbridge. He will manage the Northborough building as well.
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