190 Fremont Street, Worcester, MA Listing Details & Market Data

190 Fremont Street is situated in the heart of Worcester, a rapidly growing city undergoing a revitalization period. Worcester is the second largest city in Massachusetts and the second most populated city in New England, following Boston. Worcester is approximately 40 miles west of Boston, 50 miles east of Springfield and 40 miles northwest of Providence, RI. Within Worcester, 19 Fremont is conveniently located, being only five minutes from Route 290 and a 14-minute drive from the Mass Pike. Worcester is the fourth-fastest growing housing market in the US in 2023, with 3,000 new apartments under development and another 3,000 in planning within 3.5 miles of the property. The city is home to eight colleges and universities with 40,000 students, and it has grown by 14.1% in the past decade, surpassing Boston's growth of 9% over the same period. Worcester is a prominent hub for biomedical and medical research in New England, with the Worcester Biotech Park and UMass Medical Center playing significant roles. The emerging Canal District is nearby, newly built Polar Park, and Clark University can be reached in just five minutes by car. Boston is accessible with a 50-minute drive, and the MBTA Commuter Rail to Boston is also conveniently a five-minute drive away.190 Fremont is a stand-alone single-tenant building with an outstanding rental history and a long-term lease with an established healthcare provider with over 100 locations across eight states. The property was recently renovated and shows well. Construction is brick/masonry and steel, ensuring low maintenance. Recent improvements include: - 7,200 SF single-tenant masonry and steel building updated to tenant specifications at the tenant's expense - Procurement of municipal approvals for difficult-to-obtain Substance Abuse Recovery Treatment, securing long-term stability of tenant and income from the property and landlord negotiating leverage for subsequent lease renewal.