Worcester Business Journal

wbjournal.com | September 17, 2018 | Worcester Business Journal 5 B R I E FS Developer to build $20M Lincoln Square school e City of Worcester is set to sell the long-vacant former Lincoln Square Boys Club building to a Boston-based developer for $300,000. e developer, WinnDevelopment Co. of Boston, plans spend at least $20 mil- lion to convert the 48,000-square-foot building into the new home of Summit Academy, a therapeutic school alterna- tive for students with high-functioning autism and other disabilities. WPI, Clark lead locals in U.S. News rankings Worcester Polytechnic Institute was 59th while Clark University in Worces- ter was 66th in the U.S. News & World Report rankings of national universi- ties. e College of the Holy Cross in Worcester was 35th in the subset list of national liberal arts colleges. Framing- ham State, Worcester State, Fitchburg State all ranked in the top 50 among public regional universities in the North. Insulet CEO to retire; COO to succeed Patrick Sullivan, the CEO of the insulin device company building a $100 million facility in Acton, will retire at the end of the year. Insulet Corp. president and chief operating officer, Shacey Petrovic, will succeed Sullivan in 2019. She'll remain in the role as president following the transition. Timothy Scannell, a board member for the last four years, will become chairman of the Billerica company simultaneously. W I don't use the MBTA A new service announced by the MBTA's commuter rail operating partner, Keolis Commuter Services, will expand upon a program first started last spring by allowing commuter rail passengers to pay for tickets with a credit card while on board the train via a mobile point-of-sale system manned by the conductor. When polled online, the majority of WBJ readers said they use commuter rail rarely or never. F L AS H P O L L How often do you use the MBTA commuter rail? Frequently. It is my preferred form of local travel. 18% "It's not very convenient if you are traveling from Worcester." COMMENTS: "We seldom have the need to go to Boston these days ... It's nice to have the rail option should the need arise though. We want no part of trying to drive in that city!" "The inequity against Central Mass. and the regressive fare and park- ing fees needs to be addressed. The commut- er rail is very Bos- ton-centric." Rarely. I'll use it once or twice a year in special circumstances. 30% THE REGION'S PREMIER BUSINESS BROKERAGE FIRM 65 James St. Worcester, MA georgeandco.com 508-753-1400 Business Brokerage Business Appraisals Financing Mergers & Acquisitions Since 1981 Is it time to sell your business? Need to know what your business is worth? Thinking about buying a business? At George & Company we have the knowledge and experience to help businesses of all sizes find what they are looking for, be it a buyer, seller, acquisition, or their own value. Menkiti family makes another move into downtown Worcester with $860K purchase Worcester developer Ifeanyia Menkiti has purchased the 204 Main St. build- ing in Worcester. Worcester County Registry of Deeds information shows Menkiti, a retired Wellesley College pro- fessor, purchased the 23,800-square-foot building for $860,000 on Aug. 3. In January 2017, Menkiti purchased the former Shack's Clothes site where he plans to launch the Emengini Institute for Comparative Studies. In July, Menkiti's son Obiora Menkiti and his firm Menkiti Group of Wash- ington, D.C. purchased Frank Carroll's Main Street building for $4.8 million. Mechanics Hall executive director retiring Bob Kennedy, the executive director for Mechanics Hall for the past 12 years, is retiring on Sept. 25. He will be re- placed by Kathleen Gagne, the facility's vice director and chief development officer. Mechanics Hall has a retirement event planned for Kennedy on Sept. 25, a night to mark his last at the downtown Worcester landmark. Gagne will take over the next day. Spencer Furniture to close after 58 years Spencer Furniture has thrived in an era when mom-and-pop stores have to increasingly fight against not just brick-and-mortar giants but also online competitors. But when Raoul Chalifoux decided, at age 62, he wanted to retire, he found he simply couldn't find anyone to continue to run the business. Spencer Furniture, located in a sprawling building just off Route 9 west of the Spencer town center, will begin a going-out-of-business sale Sept. 12 with no exact end date yet scheduled. e company, which has 17 employees, could keep it running into next year. Grid District beer garden, comedy club to open In the next six weeks, four new, long-awaited features at the Grid District in Worcester are set to open: the Brew Beer Garden, a beer garden, WooHaHa!, a comedy club, and two restaurants. e Brew Beer Garden is expected to host a grand opening Sept. 20 and the comedy club has booked his first act on Oct. 18. ose two new draws will join Stix Noodle Bar and Brew on the Grid, along with two other planned restaurants at the Grid District: Revolution Pie + Pint and Cra Table & Bar. Occasionally. If I'm going somewhere I won't want my car like Logan airport or Fenway Park. 24% Never. It remains too inconvenient. 28% Retiring Insulet CEO Patrick Sullivan (left) and incoming CEO Shacey Petrovic

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