 (1).png)
News:
Owners Developers & Managers
Posted: January 15, 2021
The Silverbrick Group purchases Worcester’s first skyscraper for $14.5 million from Commerce Associates, LLC
Worcester, MA JLL Capital Markets has completed the $14.5 million sale of 340 Main St., a historic, nine-story office building totaling 333,302 s/f.
JLL represented the seller, Commerce Associates, LLC and procured the buyer, The Silverbrick Group.
340 Main St. is positioned in an Opportunity Zone in downtown. In recent years, the city has undergone an urban revival benefitting from both public and private investment in its urban core and is a premier academic and medical innovation hub. The property is surrounded by numerous colleges and universities, including Holy Cross, WPI, Clark University, and healthcare institutes such as The University of Massachusetts Medical School and Massachusetts Biotechnology Research Park. Additionally, the city offers regional access via the Mass. Pike (I-90).
Originally built in 1897, 340 Main St. is the city’s first skyscraper and is currently leased to a roster of legal, financial services and government tenants. Silverbrick plans to convert the asset into a mixed-use development, featuring apartments, office, retail and self-storage.
The JLL Capital Markets team representing the seller was led by Adam Dunn, Mike Restivo and Chris Phaneuf.
MORE FROM Owners Developers & Managers
Colwen Hotels celebrates opening of the first hotel in Portland’s Thompson’s Point - Residence Inn by Marriott and Moxy Hotel
Portland, ME Colwen Hotels celebrated the opening of Residence Inn by Marriott and Moxy Hotel Portland Thompson’s Point, the first hotel in the city’s Thompson’s Point district. Developed by XSS Hotels and managed by Colwen Hotels, the five-story, dual-branded property introduces 148 guestrooms to one of southern Maine’s fastest-growing waterfront destinations.
Quick Hits
 (1).png)
Columns and Thought Leadership
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
The legislature has spoken: New Hampshire doubles down on housing in commercial zones - by John Sokul
Last year, the New Hampshire Legislature enacted HB 631, a landmark housing measure requiring municipalities to permit multifamily housing in commercially zoned districts. The law generated
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and
August Promotion
