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Sponsored by: Kelleher & Sadowsky
September 27, 2023

A retail turnaround: How Wachusett Plaza in West Boylston achieved 100% occupancy.

Wachusett Plaza
Anthony Surabian, Froze Zone
Pickle Ball

Surabian Realty Company, a diversified real estate firm with holdings in Massachusetts and Rhode Island, embarked on a significant venture in 2004 – the ownership and operation of the Wachusett Plaza.

Located at 184 West Boylston Street in West Boylston, Massachusetts, this 102,000 square foot business center had good potential for commercial growth, community engagement, and revenue generation. As an experienced real estate firm, Surabian Realty Co. was prepared to unlock the untapped potential of the plaza, making it a center of business and social activity.

In early 2019 however, the company was confronted with an unexpected challenge that tested its strategic adaptability. The long-time occupants, Salter College and Peterson School, vacated their combined 50,000 square foot space in the plaza. The repercussions of this exit were immediate – occupancy at the plaza fell to less than 50%.

Not long after is when Surabian Realty Co. hired the leasing team of Will Kelleher, Tom Bodden, and Mark Johns, of Kelleher & Sadowsky based out of Worcester, MA. Their mission was clear: attract a diverse array of businesses to the plaza, restore its occupancy, and reinstate Wachusett Plaza’s position as a thriving business hub.

Despite early leasing efforts and increased interest in the plaza, the following year brought an unprecedented global event – the COVID-19 pandemic. This led to reduced business activities and further exits causing the occupancy of Wachusett Plaza to fall to approximately 40%.

The Kelleher & Sadowsky team rose to this challenge, demonstrating agility, creativity, and determination. They embarked on an intensive marketing campaign and sales outreach program, despite difficult leasing market conditions, and wavering co-tenancy of the plaza.

The result? The tenant roster began to fill up again. Existing tenants, including Central Mass Safety Council and Planet Fitness, decided to execute long-term renewals, showing their confidence in the revitalization of the plaza.

Additionally, many companies found a new home at Wachusett Plaza, including The US Department of Agriculture, Brown Rice Thai, Three Rivers Nursery School, Sawyer’s Sports Cards, Mamacitas by Mexicali, and Sneaker Island.

The final piece of the puzzle occurred when Rt. 12 Pickle, an indoor pickleball facility, signed a multi-year lease in the 30,0000 square foot anchor position of the plaza. According to CoStar, the Rt. 12 Pickle transaction was the largest retail lease in the Boston metro market in Q2 2023. The addition of Rt. 12 Pickle marked a monumental milestone in the Wachusett Plaza revival story – 100% occupancy was finally achieved.

Today, Wachusett Plaza is bustling with activity along Route 12 in West Boylston, flourishing with new and long-term tenants alike. These businesses, both large and small, contribute to the lively and thriving atmosphere that now defines the plaza.

In a recent Worcester Business Journal article, Froze Zone, a tenant within the plaza, has reported a considerable increase in sales volume, attributing this success to the heightened traffic from the plaza’s employees and patrons. With increased visitor traffic word has spread about the trendy frozen treat vendor. In a recent poll by readers of the Telegram & Gazette, Froze Zone was also voted best ice cream in Central Massachusetts.