News: Front Section
Posted: November 12, 2021
Kelleher & Sadowsky orchestrates sale of vacant parcels on Park Ave. to Clark University for $6.95m
Worcester, MA Kelleher & Sadowsky Associates completed the land sale of 520 Park Ave. and 111 Maywood St. totaling 7.3 acres by Family Holdings Nominee Trust and Jerek Realty, Inc.to Clark University for $6.95 million.
The two vacant parcels comprise the location of the former Diamond Chevrolet car dealership. Both parcels were owned by Pamela and David Massad II and Christine Mandara, the three children of David “Duddie” Massad, who owned Diamond Chevrolet.
For Clark University, the acquisition of the long-dormant properties expands its footprint and affords the school the potential of more green space on campus. While no decision has yet been reached on the ultimate use of the site, Clark is considering a range of options, including an athletics/wellness facility, academic space, and student housing.
In the sales agreement, Kelleher & Sadowsky’s Will Kelleher and Drew Higgins represented both the seller and buyer.
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