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Kelly Square Portfolio 3 Properties in Worcester, MA
Investment Highlights
- Rare Canal District assemblage at scale
- Revenue-generating parking operation
- Near-term expense reduction
- Rare Canal District assemblage at scale
- Strong in-place income with defined value-add pipeline
- Polar Park and the Peanut
Executive Summary
The Kelley Square Portfolio is a three-building, 47,000 SF mixed-use assemblage on one acre in Worcester's Canal District, comprising 1 Kelley Square, 121-129 Water Street, and 126 Water Street. The portfolio generates approximately $71,500 per month across more than 25 tenants, with a defined path to $86,000 per month through near-term lease-up of available space. Institutional-credit tenancy anchors the rent roll, and the gated parking operation contributes over $95,000 annually with undeveloped upside to over $150,000.
What distinguishes this offering beyond the real estate itself is its context. The Kelley Square Portfolio is available alongside additional Canal District properties — parking, residential, mixed-use, and commercial buildings, and parking lots with development potential — giving a buyer the ability to assemble an ownership position of unprecedented scale in a submarket that is actively transforming. Polar Park, sustained new construction, and accelerating institutional capital are driving the District. Opportunities to acquire at this scale, in this location, at this moment in the market's trajectory do not come around twice.
What distinguishes this offering beyond the real estate itself is its context. The Kelley Square Portfolio is available alongside additional Canal District properties — parking, residential, mixed-use, and commercial buildings, and parking lots with development potential — giving a buyer the ability to assemble an ownership position of unprecedented scale in a submarket that is actively transforming. Polar Park, sustained new construction, and accelerating institutional capital are driving the District. Opportunities to acquire at this scale, in this location, at this moment in the market's trajectory do not come around twice.
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Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 48,304 SF |
| Number of Properties | 4 | Total Land Area | 0.62 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 48,304 SF |
| Total Land Area | 0.62 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1 Kelley Sq, Worcester, MA 01610 | Office | 25,140 SF | 1920 | - |
| 121-129 Water St, Worcester, MA 01604 | Retail | 19,056 SF | 1900 | - |
| 126 Water St, Worcester, MA 01604 | Retail | 4,108 SF | 1930 | - |
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