MARK Development is serving as co-general partner for the project. The Newton-based firm has played a role in a number of high-profile developments in Greater Boston.
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Manzo Freeman Development has purchased a manufacturing building at 60 Fremont St. in Worcester and plans to renovate the 166-year-old property into commercial space.
The company purchased the roughly 5.4-acre site for $3.6 million on Tuesday, according to Worcester District Registry of Deeds records. The firm plans to renovate the three-story brick building into flexible commercial and office space, similar to other conversion projects it has completed.
The building was purchased from longtime owner and operator James Devaney, co-founder of Abas Accessories. Devaney had manufactured leather goods from the site, including baseball gloves and luxury wallets.
Devaney sold the property as he winds down the business and prepares for retirement, amid broader shifts of leather production overseas, said Joe Freeman, CEO and director of business development at Manzo Freeman. The rest of the building is vacant, with Devaney expected to fully exit within the next year.
Under Manzo Freeman, the site is now known as The Landing at Worcester. The firm will seek to maintain the site’s brick-and-beam historic charm while making upgrades to make it a bright and attractive modern space for tenants, Freeman said.
Planned upgrades include modernizing bathrooms, signage, and lighting, as well as landscaping and potentially a new roof to support future solar panels. The firm plans on modifying the building to bring more natural light in.
MARK Development is serving as co-general partner for the project. The Newton-based firm has played a role in a number of high-profile developments in Greater Boston.
Natick-based Middlesex Savings Bank is providing financing for The Landing at Worcester. Manzo Freeman will invest about $6.5 million to $7 million in total, including the sale and closing costs of about $4 million, said Michael K. Manzo, managing partner and president.
“There's a good opportunity to probably triple that with operating income from the building over the course of that investment,” Manzo said.
Michael K. is the son of Michael A. Manzo, chairman and director of acquisitions at the family-run firm founded in 2018. The firm’s staff have more than 40 years of real estate acquisition and development experience.
Manzo Freeman is partnering with Hudson-based Ferjulian’s Farm to bring an arboretum feel to the building through the use of hanging baskets and flowers. The firm has already begun to line up new tenants for the site, including potential fitness, nonprofit, and medical office uses.
While officially based in Hudson, Manzo Freeman operates without a centralized headquarters, instead placing employees across its properties to maintain on-site presence. The firm focuses primarily on converting older buildings into modern commercial space.
“We don't manage from some ivory tower in New York City or Boston,” Freeman said. “We know every tenant, and we are devoted. It sounds a little corny, but we are devoted to the success of our tenants and the community, because when they're successful, we're successful.”
This is the firm’s first project in Worcester, although Freeman said the company has been looking for the right entrance to the market for the past three or four years. The firm is looking to complete the work and lease up the building within the next year or two.
The firm’s other Central Massachusetts property is The Landing at Hudson Mills. The roughly 203,000-square-foot building was purchased by Manzo Freeman in 2018 for $4.4 million, according to real estate data firm CoStar. The company has since upgraded the site, attracting tenants including Renew You MedSpa & IV Bar and Lady Black Tie formal wear store, according to Google Maps listings.
Will Kelleher and Drew Higgins of Kelleher & Sadowsky Associates in Worcester represented the seller in the 60 Fremont St. sale. The building received a 2026 assessment value of $3.16 million, according to City of Worcester property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
