Nugent and Giunta of Newmark Grubb Knight Frank lease 50,000 s/f to Porter and Chester Institute
Porter and Chester Institute is moving to expanded quarters at 220 Brooks St., combining the school's two current Westborough locations. Newmark Grubb Knight Frank (NGKF) represented the institute in its search and lease transaction.
The school is leasing half of the 100,000 s/f Worcester center, which offers access to I-190, Rte. 20 and I-290 and is serviced by public transportation. Currently, it occupies 29,200 s/f at 129 Flanders Rd. and 14,000 s/f at 80 Turnpike Rd. Porter and Chester Institute plans to move administrative offices and training programs to the new center this month.
"This is an ideal move for a school that continues to grow its program and already attracts a large number of students from Worcester, which is the second-largest city in the state," said George Nugent, executive managing director at NGKF's Boston office, who represented the tenant with Phil Giunta, executive managing director. The pair tapped James Umphrey and David Cohen of local firm Kelleher & Sadowsky Associates to help source local space opportunities in Worcester.
"Further, the property offers Porter and Chester Institute an opportunity to customize the design details and provides the required space for a diesel truck repair classroom that would not fit in its Westborough locations," Nugent said. "This allows the school to expand its curriculum."
A major capital investment is being made by owner, Grove Street Properties LLC, to outfit the facility for classrooms. Grove Street Properties, which represented itself in this transaction, acquired the building in May 2014 in a deal arranged by NGKF Capital Markets.
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