Photo by Emily Mennucci, courtesy of the Worcester Business Journal
Representatives from R.W. Holmes Realty were recently asked to comment about the commercial real estate market in the Boston Metro West area for the Worcester Business Journal. The article by Emily Mennucci discussed the challenges that landlords face when competing with the Boston market and the overwhelming need for modern office buildings.
In the article, R.W. Holmes’s president Garry Holmes discussed how investing in their properties can help landlords make the 30+ year old buildings that are common to the region more enticing to businesses.
“Some landlords get it and understand it’s a necessary evil, in order to attract the tenants, to make those large capital investments,” Holmes told Mennucci.
In addition to an overview of the situation, there were also specific examples cited in the piece, one of which was 24 Prime Park Way in Natick. The facility was built in the late 1980s and while the exterior was in excellent shape, Franchi Management, the building’s owner, modernized the interior and added amenities such as a fitness center to the property’s offerings.
The renovations and amenities created a more appealing property and interest was immediately raised. Craig Johnston, senior vice president at R.W. Holmes told Mennucci that the owners quickly signed three new tenants after completion.
To read the complete article, visit the Worcester Business Journal website.