Worcester Business Journal

wbjournal.com | May 13, 2024 | Worcester Business Journal 5 $6.5 million Price of a warehouse near Interstate 190 in Worcester sold to PLMN Holdings LLC, an entity associated with Worcester life sciences testing firm Biomere Source: Worcester District Registry of Deeds Location of the former Allegro MicroSystems headquarters in Worcester, where aerospace manufacturer David Clark Co. wants to relocate its headquarters into a new $48-million facility Source: Worcester City Council 115 Northeast Cutoff 32,000 square feet Size of Akoya Biosciences' new Operations and Manufacturing Center of Excellence facility in Marlborough Source: Akoya Biosciences Scan the QR code to learn more. Discover why ZEscrow is the future of escrow management! Member FDIC | Member DIF 800-939-9103 cornerstonebank.com The Future of Escrow Management and Subaccounting for Landlords Easily handle security deposits and other escrow accounts smoothly and securely with ZEscrow. is modern, convenient, third-party web platform for digital commercial escrow and subaccounting keeps you effortlessly organized. Wormtown Brewery sold to Jack's Abby Two of the most recognizable names in the Central Mass. cra beer scene will soon be under the same corporate umbrella, as Jack's Abby Brewing in Framingham will be acquire Wormtown Brewery in Worcester. e sale, announced in a Jack's Abby Instagram post on April 26, will see both companies operate under the name Hendler Family Brewing Co. "is acquisition solidifies our local business as one of the largest one hun- dred percent family-owned brewing companies in the country under the newly launched banner of 'Hendler Family Brewing Co," the post reads. e deal will see both the Worcester and Foxborough taprooms of Worm- town continuing to operate, with only Wormtown-brand beers being sold at these locations. Non-ownership staff will be retained at Wormtown, and the pro- duction of the brewery's core products, including Be Hoppy IPA, will continue. e new company will be headquar- tered in Framingham, and Jack's Abby taproom will continue to serve only Jack's products. e sale is expected to close sometime in the early summer. Wormtown was founded in 2010, with its Worcester brewery and taproom opening in January 2015. e brewery is the third largest in Central Mass., brew- ing 23,595 barrels of beer in 2022. Jack's Abby was founded in 2011 and is the largest brewery in Central Mass. e company brewed 52,000 barrels of beer in 2022 and had 105 employees. Hologic to acquire UK- based breast cancer tech manufacturer for $310M Hologic, a Marlborough-based med- ical device manufacturer, is expanding its product catalog through the planned $310-million acquisition of Endomag- netics, a breast cancer surgery technolo- gy developer. Based in the United Kingdom, En- domagnetics works to make identifying and removing breast cancer easier and more accessible through its surgical guidance platform, Sentimag, and developing and selling technologies used in breast cancer localization and staging, according to an April 29 press release from Hologic. In 2023, Endomagnetics generated about $35 million in revenue. Hologic didn't specify an anticipated closing date for the acquisition, nor the impact on employees for both com- panies. e acquisition is subject to regulatory approvals. Hologic foresees the purchase will slightly dilute its fiscal 2024 earnings per share before breaking even in 2025 and increasing aerward. Owner of Worcester auto lot near Clark planning 40-apartment redevelopment e owner of a Worcester auto lot near Clark University is proposing to re-develop the parcel, pitching a mixed-use building to contain 40 rental apartments, a cafe space, and an electric vehicle inspection and repair shop. Olsi Gjinko, the owner of Olsi Auto Sales & Service located at 487 Park Ave., is seeking frontage and parking variance from the Worcester Zoning Board of Appeals to allow for construction of the project, dubbed Park Avenue Green Living. Plans for the parcel call for the construction of a six-story building. e ground floor would contain space designed for a cafe, as well as an EV auto service shop to be limited to inspecting and repairing lights, tires, and other vehicle safety features, according to documents submitted to the ZBA on April 11. Floors two through six would feature 40 two-bedroom rental apartment units, with amenities including EV charging stations, a gym, and a rooop garden and other recreational areas. Other fea- tures being considered for the building include rooop solar panels, geothermal heating and cooling, and a rainwater run-off collection tank. Gjinko is seeking a 5.5-foot variance from the 200 feet of street frontage required for residential buildings with more than five units. He is seeking a variance from the city's parking mini- mums, seeking to have 34 parking spaces rather than the 47 otherwise be required. An entity managed by Gjinko bought the parcel at 487 Park Ave. for $375,000 in 2012, according to City of Worcester property records. e half-acre proper- ty was given a tax assessment value of $517,500 for 2024. Olsi Auto Sales opened in 2000, ac- cording to the company's Yelp page. Gjinko is being represented in front of the ZBA by Graves Engineering, a Worcester-based firm. 300,000 Electric vehicle battery packs Ascend Elements of Westborough plans to recycle by 2030 through its partnership with Atlanta logistics organization Call2Recycle Sources: Ascend Elements, Call2Recycle W

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