Issue link: https://nebusinessmedia.uberflip.com/i/1059446
wbjournal.com | December 10, 2018 | Worcester Business Journal 7 R E A L D E A L Real Deal highlights a recent commercial property transaction in Central Massachusetts. Commercial real estate firms wanting to submit information on recent transactions can send it to editorial@wbjournal.com. ADDRESS: 231 Turnpike Road, Westborough SALE PRICE: $5 million SELLER: Town of Westborough BUYER: LAX Media LLC The town has awarded the winning bid of about $5 million for the former Regal Cinemas to Lax Media LLC, a Walpole entity operates movie theaters in Cambridge and Connecticut under the brand Apple Cinemas. Source: Town of Westborough — Compiled by Zachary Comeau, WBJ staff writer Join the Worcester Business Journal for a NEW YEAR'S NETWORKING PARTY and AWARDS CELEBRATION! Register today and don't miss this opportunity to mix and mingle with the region's Best Of Business! BOB winners will be announced in the January 7th edition! The Best Of Business Awards event that is! Wednesday January 23, 2019 Beechwood Hotel, Worcester 5:00 – 7:00PM • Cost: $35 Pre-registration is required. www.wbjournal.com/BOBawards Start the New Year off with BOB! BOB A W A R D S B E S T O F B U S I N E S S REGISTER TODAY! Presenting Sponsor Worcester awards first recreation pot license Worcester's only medical marijua- na dispensary, Good Chemistry, has received its final local approval for recreational sales and is eyeing opening its doors for that market in March. e Colorado-based company re- ceived its retail marijuana license from the city's License Commission just over a week aer the company was awarded a provisional license for adult-use sales from the state Cannabis Control Com- mission. Final approvals on the state level could still be months away, but the local vote marked the first license for adult-use sales in Worcester. Trade war has had limited impact in MetroWest More than half of MetroWest employ- ers surveyed said they've felt no effects from global tariffs and just 9 percent said they had a moderate negative effect. e survey, which also asked employ- ers about challenges facing MetroWest, was conducted by Framingham State University researchers in collaboration with the 495/MetroWest Partnership. e survey found stable optimism, with 65 percent saying they expected the MetroWest economy to improve slightly or significantly. Only 12 percent said they expected the economy to decline. Berkshire Bank CEO steps down e president and CEO of Berkshire Bank's parent company has stepped down abruptly with no explanation. Berkshire will pay Daly $7.5 million as part of a separation agreement. Berkshire ac- quired Worcester's Commerce Bank last October for $230 million. Following the transaction, Berkshire moved its headquarters from Pittsfield to Boston. Richard Marotta, president of Berk- shire Hills Bancorp, Inc. will take over as CEO. Mustang Bio completes Worcester lab Mustang Bio, a New York clini- cal-stage pharmaceutical company work- ing on technology that can help fight cancer, has completed construction of its Worcester laboratories. e company opened 14,000 square feet of space in a building at the UMass Medicine Science Park in June, and now has completed a total of 27,000 square feet including labs for cell therapy manufacturing. Michael Daly, former CEO, Berkshire Hills Bancorp W Fitchburg school apartments top off A renovation of the former B.F. Brown School in Fitchburg into apartments has hit its ceremonial topping-off point, when construction reaches its physical peak. A ceremony held at the school was a chance for officials and development partners to mark the latest stage in what is seen as a revitalization of the city's downtown. e long-vacant school on Academy Street is being turned into 50 to 60 residential units. Just down the street, Fitchburg State University is turning a former theater and storefronts on Main Street into a learning and entrepre- neurship center. City Hall is undergo- ing a renovation to enable city employ- ees to return to the building. In July, Fitchburg Mayor Stephen DiNatale approved a $5,000 sale of the B.F. Brown School to NewVue Com- munities, a Fitchburg nonprofit.