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Worcester Mixed-Use Portfolio Trades to Local Partnership
Marcus & Millichap closed the sale of 10-14 E Worcester St. and 89 Shrewsbury St. a mixed-use portfolio in Worcester, MA, for $7,250,000. First VP investments Harrison Klein marketed the property on behalf of the seller and procured the buyer, 89 Shrewsbury Street LLC, a partnership between Barry Lundgren of Lundgren Automotive Group and Lundgren Equity Partners, and Dave Fontaine Jr. of Fontaine Bros.
“We had tremendous interest in this property, which had been owned by the Condron family for decades,” said Klein. “This property’s location, at the bottom of Shrewsbury Street in thriving Worcester, motivated buyers who otherwise may not have chased an office building.”
The portfolio comprises 83,769 gross square feet across three parcels. It includes three interconnected office buildings and 155 parking spaces. The portfolio’s 70,930 net rentable square feet was 82% occupied at the time of sale. The property is also home to VIA, one of Worcester’s top luxury restaurants, and other lifestyle and professional tenants.
- ◦Sale/Acquisition
