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News: Front Section
Posted: May 21, 2021
Marcus & Millichap arranges the sales of two Worcester industrial buildings for $3.075 million
Worcester, MA Marcus & Millichap completed the sales of two properties. 50 Richland St., a 75,000 s/f educational property sold for $2.45 million. Nearby 26 Cambridge St., a 21,832 s/f industrial property sold for $625,000, according to Thomas Shihadeh, regional manager of the firm’s Boston office.
Harrison Klein, an investment specialist in Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a developer, was secured and represented by Klein and Mark Lyman, investment specialists in Marcus & Millichap’s Boston office.
Lyman said, “These two transactions couldn’t be more different but are both good testaments to the strong activity we are seeing in Worcester right now. We’re excited to get these to the finish line and continue doing business in this city.”
Klein said, “This marks The Klein Group’s seventh and eighth closings in Worcester in under two years. The resiliency of this market through COVID-19 is a testament to the strength of the urban renewal boom that has revitalized Worcester over the past decade.”
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