Mercantile Center secures three leases; signs Kelleher and Sadowsky
SAM BONACCI
Mercantile Center is made up of multiple buildings and a parking garage.
Franklin Realty Advisors has been busy this month securing leases for Worcester’s Mercantile Center, nabbing an extension, an expansion and a new tenant in the form of commercial real estate firm Kelleher and Sadowsky.
Kelleher & Sadowsky Associates, Inc., the office-leasing agent for Mercantile Center, is moving its headquarters to 120 Front Street in early 2017. The firm will phase into 7,380 square feet over a three-year period, according to Franklin Realty. Sheehan’s, the Rhode Island-based office furniture dealer, will take a portion of the KS space and will outfit the entire space to be a working showroom for its products.
"The improvements underway at Mercantile Center will make this property the best office location in the city. We wanted to have our team here in the exciting office environment we have created with Sheehan’s,” said Will Kelleher, a principal of the firm.
UMass Memorial Health Care has expanded its commitment to the downtown buildings by more than 20 percent, according to Franklin, expanding its current 74,599-square-foot lease by an additional 17,688 square feet in 2017. UMass Memorial Health Care had previously announced it would bring 500 information-technology employees downtown as part of the previous lease agreement.
“Our roots run deep here and our commitment to our patients, the city and its residents run even deeper. By adding an additional 18,000 square feet of space, we have great flexibility to align our caregivers and resources more strategically,” Eric Dickson, president and CEO of UMass Memorial Health Care, said in a statement.
The Worcester District Registry of Deeds is located in 100 Front Street and is extending its lease for five years, according to Franklin Realty.
Mercantile Center is a joint venture of Franklin Realty Advisors and Great Point Investors LLC. The project encompasses the redevelopment of two office towers at 100 and 120 Front Street; three commercial or retail opportunities at 90 and 110 Front Street and 2 Mercantile Street; and a 1,647-space structured parking garage. The non-parking properties total 636,000 square feet of space, including approximately 200,000 square feet of vacant space for redevelopment for office and retail uses.
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