Worcester Business Journal

wbjournal.com | March 16, 2020 | Worcester Business Journal 5 B R I E FS Real estate trust buys Milford Crossing for $42M Chicago investment firm JLL Income Property Trust has brought the Milford Crossing shopping center for around $42 million from RD Management of New York, which purchased the facility in 1999 for $200,000 and investment $20 million in its renovation. e plaza on Medway Road just off I-495 reopened in 2017 aer an overhaul by RD and is anchored by a Stop & Shop, T.J. Maxx and HomeGoods. e 160,000-square-foot plaza was nearly vacant when Kmart, the steakhouse Bugaboo Creek and World Gym le in a two-year span starting in 2014. Aramark laying off 64 at Reliant facility in Auburn Aramark, a national food services company, at the end of March will lay off 64 workers at a Reliant Medical Group facility in Auburn. e layoffs include 51 food service workers, four floor technicians, two housekeepers and others, according to a notice filed with the Massachusetts Division of Career Services. A spokesman for Aramark, a public company based in Philadelphia, said Tuesday the company has an understanding that affected employees will be hired by a new provider. Bose replaced CEO in January Bose, the Framingham manufacturer of headphones and speakers, has replaced CEO Phil Hess with CFO Jim Scammon as the leader of the company. Scammon's title will be president and COO, according to a report from CNET, who first reported the leadership change. According to the story from CNET, the change was made back in January, when the company announced it would close all 119 of its North American and European stores. Representatives for Bose did not return WBJ calls for comment. e company said it will maintain more than 130 stores in China, the United Arab Emirates, India, South Korea, and other markets. City board recommends $11.5M WuXi tax break e Worcester City Council's economic development committee has recommended the full council approve a $11.5-million tax break for a proposed $60-million biomanufacturing facility from WuXi Biologics. If approved by the City Council, which will meet next on March 17, WuXi will get an incentive toward building what's envisioned as a $60-million, 107,000-square-foot facility to anchor a new campus of buildings called e Reactory. e 46-acre site will be built on part of the former Worcester State Hospital campus off Belmont Street. UMass Memorial names chief philanthropy officer UMass Memorial Health Care has named Kathleen Driscoll as its first chief philanthropy officer to lead its new fundraising division. Driscoll is joining the Worcester-based health system from the Roman Catholic Archdiocese of Boston, where she is the secretary for institutional advancement. She will start work April 6. Marlborough space firm sold to Florida company Marlborough spacecra and satellite component manufacturer Adcole Maryland Aerospace has been sold for an undisclosed price to a private equity firm whose portfolio includes aerospace. AE Industrial Partners of Florida announced the purchase of AMA from Adcole Corp., a portfolio company of Artemis Capital Partners of Boston. AMA, which was established in 1957, has designed optical sensors for satellites providing guidance, navigation, situational awareness, and control. Leominster manufacturer names new president Leominster storage container manufacturer United Solutions has named David Reilly its new president. Reilly served as the COO for Dorel, Inc., a Canadian manufacturer of juvenile products such as car seats. He has more than 30 years of experience in consumer companies. United manufactures plastic storage, trash, and organizational products sold under the United Solutions, Rubbermaid, and private labels. Kathleen Driscoll, UMass chief philanthropy officer WE'LL BE THERE W HEN YOU M A K E IT! HOWEVER YOU GET HERE M E M B E R F D I C M E M B E R D I F countrybank.com W O R C E S T E R P U B L I C M A R K E T AT K E L L E Y S Q U A R E , 1 5 2 G R E E N S T R E E T 2 7 8 P A R K A V E N U E | 3 1 5 M A I N S T R E E T | 8 0 0 - 3 2 2 - 8 2 3 3 We're excited to open up one of our brand new interactive ATMs right in the heart of Worcester's Kelley Square. Our virtual support can assist you with most of your banking needs. So be sure to stop on by. If you can, that is! T H E T I C K E R 40,000 People medical device manufacturer Allurion Technologies of Natick wants to treat by the end of the year, with its emerging Elipse Balloon weight-loss system. Source: Allurion Technologies Startup loan received by new Worcester Public Market food vendor Pasta Mani from the North Central Massachusetts Development Corp. $50K 2 years Source: BJ's Wholesale Club Period over which Westborough retailer BJ's Wholesale Club plans to implement cost-savings measures, although it didn't identify where the cuts would be made. Rank of the Greater Worcester market's job and wage growth among U.S. metropolitan areas with less than 1 million people, down from 70th in 2019. 166th Source: Moody's Analytics Source: NCMDC RD Management sold Milford Crossing for more than double its investment. W

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