Kelleher & Sadowsky

08/12/2025

From Office Floors to Front Doors: Worcester’s Apartment Surge

The conversion boom isn’t happening because downtown Worcester’s commercial real estate market is in trouble. Far from it. Worcester has a diversified economy with a growing office tenant base, including financial services, healthcare, education, life sciences, technology, and professional services. Class A office here is roughly 86% occupied—a vacancy rate of just 14%, compared to about 23% in Boston. And Worcester’s retail, hospitality, and cultural sectors are showing good momentum as well.

Office conversions are happening because multifamily demand in downtown Worcester has outpaced almost everything else.

https://kelleher-sadowsky.com/from-office-floors-to-front-doors-worcesters-apartment-surge/

05/02/2025

This City Isn’t Just Growing — It’s Transforming
If cities were stocks, Worcester, Massachusetts would be the undervalued gem — still flying under Wall Street’s radar but showing all the signs of a breakout. It’s the kind of place where a sharp investor or bold CEO might casually say, “We saw it before they did,” and everyone else just nods, wishing they’d moved sooner.
https://kelleher-sadowsky.com/the-undervalued-gem-in-new-englands-real-estate-market-this-city-isnt-just-growing-its-transforming/

04/29/2025

This City Isn’t Just Growing — It’s Transforming
If cities were stocks, Worcester, Massachusetts would be the undervalued gem — still flying under Wall Street’s radar but showing all the signs of a breakout. It’s the kind of place where a sharp investor or bold CEO might casually say, “We saw it before they did,” and everyone else just nods, wishing they’d moved sooner.
https://kelleher-sadowsky.com/the-undervalued-gem-in-new-englands-real-estate-market-this-city-isnt-just-growing-its-transforming/

01/13/2025

Boston Business Journal Ranks Kelleher & Sadowsky #6 in Leasing and #8 in Sales Among Massachusetts CRE Firms.
According to BBJ’s 2024-25 Book of Lists, Kelleher & Sadowsky is the highest ranked independent and locally-owned commercial real estate in the metro-Boston region.

https://ow.ly/H22A50UFnvT

12/02/2024

Great article in Worcester Business Journal about the resurgence of downtown Worcester because of the many great projects in the CitySquare area. Kelleher & Sadowsky is proud to have been involved with the CitySquare project now for more than 20 years!

https://www.wbjournal.com/article/the-galleria-to-citysquare-a-worcester-odyssey-a-look-at-the-rise-fall-and-resurgence-of

Like so many of the nation’s indoor shopping centers, the Galleria slowly died over the 20 years after it opened. Today, the former mall space is known as CitySquare.

11/21/2024

Don't miss the immersive Van Gogh exhibition at Mercantile Center in Worcester! Virtual experience is more enjoyable and enlightening than actual reality! The exhibit space lease was orchestrated by Todd Alexander of Kelleher & Sadowsky.

https://www.wbjournal.com/article/immersive-exhibition-featuring-works-of-van-gogh-opens-at-worcesters-mercantile-center

An empty retail space at Worcester’s Mercantile Center has been transformed into an immersive experience featuring the art of Vincent van Gogh.

08/19/2024

Congrats to our very own Jim C***a! Jim is a recipient of this year's WBJ 40 Under 40 award!

"Rejecting the notion that Worcester is a stepping stone to working in bigger markets, C***a has contributed to the growth of his birthplace through his involvement in $125-million worth of property sales and $150-million worth of leases. Since his joining the firm, Kelleher & Sadowsky has grown from nine to 23 employees as the firm’s business interests have expanded well past the borders of Worcester. "

Rejecting the notion that Worcester is a stepping stone to working in bigger markets, C***a has contributed to the growth of his birthplace through his involvement in $125-million worth of property sales and $150-million worth of leases.

07/24/2024

These Millbury units were purchased by CJG Rentals, owner of more than 80 rental units in the state. CJG Rentals intends to renovate the five, 1,040-square-foot duplexes.

Chris Naff and Paul Matt brokered the deal.

CJG, owner of over 80 rental units in the state, purchased the duplexes with the intention of renovating the units.

07/16/2024

Welcome Department of Developmental Services to Southbridge Innovation Center! Our very own Chris Naff and Jim Umphrey facilitated the 10 year lease between Franklin Realty Advisors and DDS.

“We are thrilled to welcome the Department of Developmental Services to the Southbridge Innovation Center,” Chip Norton, founder of Franklin Realty Advisors, owner of the Southbridge Innovation Center, and a member of the 2024 WBJ Power 100, said in a press release from FRA announcing the lease. “The programs and services that DDS provides to the children and adults of Central Massachusetts are critically important, and the Southbridge Innovation Center provides them with the space and location needed to best serve our communities.”

The Massachusetts Department of Developmental Services has signed onto a 10-year lease at the Southbridge Innovation Center.