A former shoe company complex that’s home to three of Worcester’s largest office tenants has received $20.4 million in financing from Rockland Trust Co. as the bank expands its central Massachusetts presence.

Developer and property manager Franklin Realty Advisors will use the proceeds to complete tenant improvements and seek tenants for the remaining 11 percent of office space at the 270,000-square-foot Worcester Business Center.

Franklin Realty Advisors has invested nearly $15 million in improvements in the past decade at the former Thom McAn Shoe Corp. property located at 66-67 Millbrook St., including conversion of 100,000 square feet of warehouse space into offices.

Current office tenants include UMass Memorial Health Care, Elder Services of Worcester and the Massachusetts Department of Revenue.

Rockland Trust Co. established a commercial lending and investment office at 100 Front St. in 2018 and opened its first Worcester branch in March after identifying central Massachusetts as a key growth area.

Rockland Trust Finances $20M Update to Worcester Business Center

by Banker & Tradesman time to read: 1 min
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