News: Front Section

Kelleher & Sadowsky Associates, Inc. brokers 25,000 s/f lease to Seven Hills Foundation

135 Gold Star Boulevard - Worcester, MA

Worcester, MA Kelleher & Sadowsky Associates, Inc. completed the signing of a multi-year lease at 135 Gold Star Blvd. by Seven Hills Foundation (Seven Hills). Kelleher & Sadowsky’s John McKinley and Paul Matt represented the lessee, Seven Hills. William Kelleher IV and Brian Johnson represented K & L Realty, the lessor.  

The 25,000 s/f second floor space suite of offices will enable Seven Hills to integrate three of its behavioral counseling clinics and many of their programs under one roof, including Family Services of Central Massachusetts, You, Inc. and Children’s Friend. 

Seven Hills VP/CEO Dr. Kathleen Jordan said, “The new location will help us expand and better serve and support the hundreds of children, families and individuals in Central Massachusetts who depend on us, especially at this critical time of increasing mental health needs.” 

The office space is specially designed to meet the unique needs of these agencies, with construction well underway and expected to be complete by March 2021. 

The 57,000 s/f landmark building at 135 Gold Star Blvd. was originally built for Sawyer Lumber in the 1950’s. It became the home of Reliant Medical in the late 1980s. Worcester-based K & L Realty bought the property in 2019 following Reliant’s departure, and committed to a total renovation. The exterior was modernized by the addition of windows and composite cladding. The interior was completely demolished and redesigned. New HVAC, electrical, and plumbing systems were engineered for the building. 

 “We are very excited about transforming this unique building and bringing it into the 21st century. It’s an honor to have as our first tenant the region’s premier human services organization,” said K & L principal George Tonna.

MORE FROM Front Section
Front Section

Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.

Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Four tips for a smooth 1031 Exchange - by Bill Lopriore

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Make PR pop by highlighting unique angles - by Stanley Hurwitz

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Five ways to ruin a  Section 1031  Like-Kind Exchange - by Bill Lopriore

Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.