Worcester Business Journal

wbjournal.com | February 4, 2019 | Worcester Business Journal 5 B R I E FS Hologic CEO paid $42M Steve MacMillan took home $42 mil- lion last year as CEO of Marlborough medical equipment maker Hologic. It might go without saying that his eye-popping payday led the way for Central Massachu- setts executives. MacMillan's fiscal 2018 salary – heavily boosted by roughly $39 million in stock awards and options – was the highlight of the latest reporting year for executives in Central Massachusetts in which overall compensation rose by 15 percent, according to a review by the Worcester Business Journal of more than 200 lead- ers of corporations, colleges, hospitals and nonprofits. In all, pay rose by an average of $147,000 to just over $1.1 million. Greendale Mall, valued at $13M, is for sale e owners of the Greendale Mall are looking for a buyer less than three years aer purchasing the mostly empty mall for $11.8 million in 2016. at business entity is registered to C-III Asset Management, a subsidiary of Irving, Texas-based C-III Capital Partners, which purchased the property via bankruptcy in July 2016. e mall was built in 1987 and was last assessed in 2018 for $12.8 million. UMass Nobelist knew of gene-edited babies A UMass Medical School professor and Nobel Prize winner knew of a Chi- nese researcher's work on gene-edited babies before that work became public, according to the Associated Press. Craig Mello, a 2006 Nobel Prize winner and distinguished professor of the school's RNA erapeutics Institute, learned about the pregnancy last April via an email from researcher He Jiankui. Marlborough Airport sale closes at $1.9M A Southborough developer planning a new industrial park at the Marlbor- ough Airport has bought the site for just under $1.9 million. Capital Group Properties bought the small airport in a sale closed Dec. 20. e developer is planning 12 industrial buildings on the site, trying to draw companies in the Marlborough area. Get real about Worcester housing rent Developer Trinity Financial plans to begin work in March on turning the former Worcester County Courthouse into 117 apartments. Another housing development,145 Front at City Square, opened last year, and about 160 of the total 368 units remained available as of early January, with rents starting at about $1,500 for a 491-square-foot studio. When polled online, two out of three WBJ readers said downtown housing supply is outpacing demand, especially at current prices. F L AS H P O L L Does downtown Worcester have enough demand for all the new housing coming online? Shrewsbury, Southborough apartments sold Two luxury apartment complexes in Southborough and Shrewsbury, built by the same developer between 2010 and 2013, have been sold to a Stoneham property management firm for a com- bined $77 million. Per property records at the Worcester County Registry of Deeds, the Madison Place apartments in both towns were sold to business entities controlled by Brickpoint Properties in Stoneham. e 98-units in seven buildings in Shrewsbury on Route 9 were sold for $24 million, while the 140 apartments in Southborough also along Route 9 were sold for $53 million. WooSox stadium may include diner car When the City of Worcester and the Pawtucket Red Sox announced last Au- gust they had a deal to move the team to Worcester, officials showed renderings of a ballpark with Fenway Park's Green Monster and a traditional brick exterior common to modern ballparks. But those design elements are no sure thing, the project's architects said, leaving the look of Worcester's soon-to- be ballpark up in the air. e Green Monster replica appears to be out. e red brick may be, too. Two design firms have been hired for the $101-million ballpark, which is slated to open in 2021. D'Agostino Izzo Quirk Architects of Somerville are designing the ballpark itself, and Sasaki, which has offices in Watertown and Shanghai, is working on the mixed-use neighborhood envisioned to grow on the surrounding blocks in Worcester's Canal District. Among the features being discussed is a diner car, though planners stressed that nothing is finalized. Harvard Pilgrim to close Worcester office Health insurer Harvard Pilgrim Health Care is closing its downtown Worcester office. Phil Tracey, a spokes- person for the Wellesley-based firm, said the lease is being discontinued and the insurer's offices in Westborough, shared with subsidiary Health Plants, Inc., will now serve as the Central and Western Massachusetts office. e consolidation resulted in the elimination of two positions. e Worcester office opened in 2011 at 427 Main St. and was led by Worces- ter native Kate McEvoy, who was the company's vice president of Central and Western Massachusetts. Steve MacMillian, CEO, Hologic Yes. More than enough people and companies are moving into the city. 6% Yes. Downtown will become even more of a cultural and housing destination once more developments are completed. 24% No. The vacancy rate at 145 Front St. shows supply is outpacing demand. 21% No. At least not until the developers are realistic about the prices they are charging. 49% "Front St. is selling at close to $400-$500 above the 4-5 star submarket comps according to CoStar. Developers need to stop tracking Boston rents and think about the local market since you will never get enough Boston commuters to relocate." "145 Front Street has only been open since the fall. Were people expecting it to fill up overnight?" "$1500 for a studio apartment?!? Who can afford that on a Worcester salary?" W

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