Worcester Business Journal

www.wbjournal.com June 20, 2016 • Worcester Business Journal 15 Building up this brand has involved a lot of faith for Lorusso not only in the startup businesses Crompton Place houses but also with the vision for future expansion. The White Room event venue was Chase's vision that Lorusso took and ran with. "It's a chemistry that we work at, and everyone succeeds," Lorusso said. "We all feel as if it is our property, not my property." A wider application The model exhibited at Crompton Place is one that the city would be wise to look at for the development of downtown, said McGourthy who was working for the city when Crompton Collective was founded. By using anchor stores that attract a dis- tinct crowd, other downtown properties could build traffic and business. "An anchor tenant does one of three things: it attracts customers, it can estab- lish a brand and third – and important for developers – is it provides finance-ability," McGourthy said. "You want an anchor that has a track record and bank-backing so when a tenant signs a lease, they will be there at the end of the lease." While taking chances has worked for Lorusso, McGourthy said that downtown locations should not lose sight of securing anchors that can financially stabilize a building while building up other tenants with overlapping visions and customers. Chase said the city, which offers a great deal of support for startup businesses through training programs and help with finding appropriate available retail space, could help push this forward by coordinat- ing complementary businesses looking to open in the city. By accentuating each busi- ness' strengths with other passionate busi- nesses, the success at Crompton Place could be replicated elsewhere, she said. "Whether you've got a building or a street, everyone's got to be able to play off each other," Chase said. n We have the technical expertise to get the job done right: our experts are MBA's and MST's with hundreds of combined years of experience. Combine that with our Awesome Service Guarantee® - our commitment to customer care and personal attention you won't find anywhere else - and you will see why so many great organizations choose Shepherd & Goldstein as their Accounting Firm of Choice. Contact us today and learn how we can help your business grow profitability and create greater business value. We provide customized services designed to meet your specific needs: • Accounting & Tax Services • Business Consulting • Business Exit & Transition Planning • Financial Services • Retirement Planning "S&G's financial insights, analysis and active engagement provided us financial credibility and strengthened our organizational structure immeasurably during a critical time in our growth." - Russell Alfieri President & CEO Senior Systems Inc. Experience Matters. 508-757-3311 • www.sgllp.com >> R E G I O N A L F O C U S: W O R C E S T E R T hrough careful curation of ten- ants and a long-term vision, Worcester's Printers Building has built up a space devoted to manu- facturing, education and creation. The Printers Building was built in 1922 and has been the home for three printers including Davis Publications. In 2000, Davis took over the building from one of the other original part- ners and began managing the prop- erty, said Davis Publications President Wyatt Wade. With Davis' educational publishing focus, it was decided that the busi- nesses in the location should have an educational or artistic bent as well. Much like Crompton Collective set a tone for Crompton Place, Wade want- ed to ensure that the Printers Building maintained the creative and artistic brand put forward by Davis Publications. "The anchor company wanted to be surrounded by and provide space for creative-economy-type business- es, especially associated with the arts," he said. With that in mind, curation of the space began with NPR jazz affiliate WICN and an art gallery along with other creative tenants over time. With Davis serving as the financial anchor for the building, they could be par- ticular with their tenants. "We would let them in under a rent roll that was very different than what they would find somewhere else," Wade said. "We wanted to fill up the building, but we had an emotional attraction to these businesses." The building is now 85-percent occupied to creative organizations such as makerspace Technocopia. n Printers Building: Manufacturing an artistic enclave BY SAM BONACCI Worcester Business Journal Digital Editor Amy Chase of Crompton Collective has expanded into hosting events and weddings with the support of Lorusso. P H O T O / S A M B O N A C C I

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