Worcester Business Journal

wbjournal.com | May 30, 2022 | Worcester Business Journal 7 SVN | Parsons Commercial Group | Boston 1881 Worcester Road, Suite 200 Framingham, MA 01701 www.svnpcgboston.com RYAN PARSONS Associate Advisor 508.271.9234 rparsons@svn.com PARSONS COMMERCIAL GROUP | BOSTON 80 Turnpike Road Westborough, MA ±28,000 SF INDUSTRIAL/FLEX/R&D BUILDING ROUTE 9 WESTBOROUGH, MA 8 0 T U R N P I K E R OA D 2 7, 0 8 0 A DT Celebrating 165 Years! Mechanics Hall Worcester County Mechanics Association Mechanics Hall • 321 Main Street, Worcester, MA 01608 mechanicshall.org • info@mechanicshall.org 501(c)(3) not-for-profit organization • Built in 1857 • National Register of Historic Places Where community and culture meet B R I E FS Housing prices will keep rising rapidly How will the Worcester County single-family median home price of $380K change throughout 2022? The price of housing has continued its rapid upward increase through the start of 2021, with the median price of a single-family home sold in Worcester County now $380,000 for the first four months of the year, up 11% from the first four months of 2021, according to The Warren Group. The main cause for the increase continues to be a limited supply of for-sale homes as demand keeps rising. As part of its effort to curb inflation nationwide, the Federal Reserve has increased interest rates, which have risen above 5% for the first time in more than a decade, potentially cooling demand for home buying. When polled online, the plurality of WBJ readers said the price increases will keep coming. F L AS H P O L L Increase more than 10% 16% Increase 5-10% 23% Increase 1-5% 20% Stay flat 18% Decrease 1-5% 20% Decrease 5-10% 8% 5% Decrease more than 10% "Rising interest rates are an equal concern to rising prices." Livia's Dish in Worcester sold to new owners Worcester restaurant Livia's Dish has been sold to new owners, former owner Oriola Koci confirmed May 18. Koci, who still owns Altea's Eatery on Park Avenue, said she and her husband, Enton Mehillaj, sold Livia's Dish in November to siblings Kristina and Joseph Ciejka of Worcester. e siblings have both worked at Livia's Dish and plan to keep operating the breakfast and lunch restaurant with few changes, they told the Worcester Telegram & Gazette, who first reported the story. Koci said the reason for the sale was to focus more on her and Mehillaj's two daughters, aer whom the two restaurants are named. Mehillaj is still the registered owner of the Livia's Dish property at 1394 Main St., which he bought in 2012 around the time of the eatery's opening, according to the Worcester South District Registry of Deeds. e couple opened Altea's in 2016. Westborough hotel sells for $7.2M as part of nine- property portfolio A 109-room hotel property in Westborough sold for just over $7.2 million in a deal closed May 13, according to the Worcester South District Registry of Deeds. e Sonesta ES Suites Boston Westborough, located at 25 Connector Road, sold as part of a $124.6 million portfolio deal including nine hotels across the country. e buyer was PEG Cos., a Utah-based developer specializing in hotels. e seller of the Westborough hotel was HPTMI Properties Trust, an entity registered to the address of e RMR Group, a commercial real estate agency headquartered in Newton. HPTMI Properties Trust has owned the property, which spans 12 acres, since 1996, according to the Town of Westborough's assessors' database. HPTMI bought it for more than $9 million in 1996, marking a nearly $2 million loss in the sale. COMMENTS: W

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