Rockland Trust provides $20.4M for Worcester Business Center
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The Worcester Business Center, a former manufacturing mill, is home to offices for UMass and about 20 other tenants, including Geisel Software.
Rockland Trust has provided $20.4 million in financing for the Worcester Business Center, aimed at funding a final round of tenant improvements and helping lease the remaining 11% of office space in the building, the Hanover-based financial institution announced on Wednesday.
The building, originally a manufacturing facility for the Thom McAn Shoe Corp. from 1965 to 1996, features more than 270,000 square feet of office space, and is home to some of the region’s largest employers. Among them are UMass Memorial Health Care, Elder Services and the Massachusetts Department of Revenue, according to Rockland.
The building is developed and managed by Franklin Realty Advisors of Wellesley, which also runs the Mercantile Center skyscraper in downtown Worcester and the Southbridge Hotel & Conference Center.
“This final push from Rockland Trust provides us with the funding we need to fill the WBC, with confidence that the city continues to thrive and serve our businesses and community members,” said Charles “Chip” Norton, managing partner at Franklin Realty Advisors, in a statement.
Over $14.8 million has been invested in improvements at WBC so far this year, according to Rockland.
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