360 Franklin St
Worcester, MA 01604

Franklin Street Mill (the Property) is a ±304,600 SF industrial property situated on four acres in the Boston MSA located at 344 Franklin Street in Worcester, Massachusetts. The Property is immediately adjacent to the CSX Intermodal Center and features incredible access to Interstate 290. Union Station is only five blocks away providing an express commuter train to Boston along with local and regional bus transit. The offering includes the 100% interest in four parcels totaling 2.38 acres plus a 66% interest in Franklin Realty Trust, which owns 342 Franklin Street, a 2.67 acre paved parcel. Originally constructed in 1910 for a leather tannery, the building was subsequently used for manufacturing children’s toys for over sixty years. During the early 2000’s the property was substantially improved with modern bathrooms and mechanical systems. The building is currently occupied by a diverse tenant base which includes traditional warehouse users along with recreational uses. The property is currently ±34% vacant, providing an excellent opportunity to add value through lease up. Known as the heart of Massachusetts, Worcester is known for its nine colleges and thriving healthcare industry. Over the past years Worcester has seen tremendous development growth, including 1,000 new apartments and 55 new restaurants in 2016 alone. The City of Worcester has committed to a $100M effort to revitalize downtown to support and capitalize on the demand and attract more population downtown to reshape the area. Franklin Street Mill is an ideal opportunity for the value-add investor. Simply by bringing the property to a market vacancy level, an investor will be able to achieve a 20%+ leveraged return. The building is also an ideal candidate for adaptive re-use. Potential uses for the site include creative offices and multi-family housing. Franklin Street Mill is one of the best and largest situated buildings remaining in Worcester. The property is currently ±34% vacant, providing an excellent opportunity to add value through lease up. Known as the heart of Massachusetts, Worcester is known for its nine colleges and thriving healthcare industry. Over the past years Worcester has seen tremendous development growth, including 1,000 new apartments and 55 new restaurants in 2016 alone. The City of Worcester has committed to a $100M effort to revitalize downtown to support and capitalize on the demand and attract more population downtown to reshape the area. Franklin Street Mill is an ideal opportunity for the value-add investor. Simply by bringing the property to a market vacancy level, an investor will be able to achieve a 20%+ leveraged return. The building is also an ideal candidate for adaptive re-use. Potential uses for the site include creative offices and multi-family housing. Franklin Street Mill is one of the best and largest situated buildings remaining in Worcester.