For Immediate Release: 10/28/2010 8:32 am
Worcester, MA (October 28, 2010) - Mirick, O'Connell, DeMallie & Lougee, LLP and Berkeley Investments, a Boston-based real estate investment and development firm, have executed a 10-year lease extension on 38,277 square feet of office space through September 2021 at 100 Front Street in Worcester, Massachusetts.
Mirick O'Connell is a full-service business law firm with offices in Worcester, Westborough and Boston, Massachusetts. Founded in Worcester in 1916, Mirick O'Connell has a history of quality legal services together with strong business and community leadership. The Firm's principal practice groups are Business; Creditors' Rights, Bankruptcy and Reorganization; Intellectual Property; Labor, Employment and Employee Benefits; Land Use and Environmental; Litigation; Public and Municipal Law; and Trusts and Estates. Its headquarters are in Worcester, and the Firm employs over 100 people in its Worcester headquarters.
Young Park, President of Berkeley Investments, Inc. stated, "Mirick, O'Connell's long term lease extension clearly heralds this Front Street area as Worcester's principal business district. I am grateful to Mirick O'Connell's partners for their commitment to this location. Coupled with Bank of America, the GSA and other transactions in the pipeline, leasing momentum for our 730,000 square feet of property in Worcester is exceptional."
David E. Surprenant, Managing Partner of Mirick O'Connell stated, "Mirick O'Connell is excited about renewing its lease and maintaining its headquarters in the heart of downtown Worcester, where the firm has had strong ties for nearly 95 years. We remain deeply committed to both Worcester and the surrounding communities, with many of our attorneys and staff serving on non-profit boards, committees and charitable organizations throughout the City and the surrounding area. We are proud of the leadership and business role we have played within Worcester, and we look forward to continuing to serve the Worcester community and to assisting with the revitalization of this great City."
"I’m pleased by Mirick O'Connell's decision to renew its long-standing commitment to the City and maintain its headquarters in the heart of our downtown," said City Manager Michael V. O'Brien. "This continued reinvestment is a signal of confidence in our community and in our successful downtown revitalization efforts. I extend my sincere appreciation to the firm and all of its employees for choosing Worcester."
100 Front Street is a 268,000 square foot nineteen-story Class A office building located in downtown Worcester. The property was built in 1970 and contains typical floor plates of 15,000 square feet. Property upgrades over the past few years include a new roof, upgraded elevator systems, and main lobby and common floor upgrades.
Through a partnership with Starwood Capital, Berkeley Investments, Inc. purchased the building as part of an acquisition that includes 120 Front Street, 90 Front Street, a 1,454 space parking garage, and two vacant buildings totaling 122,000 square feet. Collectively, Berkeley Investments, Inc. owns over 730,000 square feet of office/retail space in downtown Worcester.
Berkeley Investments, Inc. was represented in-house by Steven Brooks, Vice President, Asset Management and by Will Kelleher and Jim Umphrey of Kelleher Sadowsky. Mirick O'Connell was represented by David E. Surprenant and Broker Davie Campbell of Newmark Knight Frank.
100 Front Street is 80% leased to numerous tenants including the Mirick O'Connell Law Firm, Fallon Clinic, Morgan Stanley and Protector Group Insurance.
Berkeley Investments, Inc. is a Boston-based real estate investment, development and management company with assets totaling approximately 3 million square feet of office, retail, residential properties, parking garages and developable land.
