Issue link: https://nebusinessmedia.uberflip.com/i/991766
6 Worcester Business Journal | June 11, 2018 | wbjournal.com T H E T I C K E R $860,000 Purchase price of the former offices of convenience store chain Honey Farms, by Worcester nonprofit Seven Hills Foundation Source: Kelleher & Sadowsky Massachusetts' unemployment rate in April 3.5% Source: Mass. Executive Office of Labor and Workforce Development $264,000 Source: The Warren Group The median Worcester County home sale price in April The sale price of a Shrewsbury Street building currently housing three businesses, including skate shop Eastern Boarder $780,000 Source: A. Murray Real Estate B R I E FS Continued from previous page Calif. firm buys Holliston cultivation site for $3M California medical cannabis real estate firm Innovative Industrial Prop- erties has purchased the 15-acre site of a proposed cultivation facility in Hollis- ton for $3 million. Innovative entered into lease-and-development agreement with PharmaCann LLC, the company proposing to operate the facility. PharmaCann will construct two buildings, and Innovative will reimburse up to $15.5 million. IPG Photonics eyes $215M expansion, 500 new jobs Oxford fiber laser equipment man- ufacturer IPG Photonics plans at least $215 million in expansion. e company is seeking a tax incre- ment-financing agreement with the town to add about 960,000 square feet to its 401,000-square-foot facility, includ- ing 500,000 square feet of office, manu- facturing and research space. e other 460,000 square feet will be a parking garage to accommodate the additional 500 jobs to be created as a result. Boston hospital exec to be next UMass Memorial Medical Center president e president of Brigham and Wom- en's Faulkner Hospital in Boston has been named to lead UMass Memorial Medical Center in Worcester where he will begin duties on Sept. 1. Michael Gus- tafson will replace Patrick Muldoon, who stepped down in January aer 15 years with Worces- ter-based UMass Memorial Health Care and aer more than four years as the UMass Memorial Medical Center president. Gustafson will oversee the medi- cal center's Memorial, University and Hahnemann campuses, which have a combined 779 patient beds, 6,700 employ- ees and more than 37,000 admissions. Gustafson spent the last three years as president at the Brigham, and previously was the hospital's chief operating officer for four years. "I am both honored and Michael Gustafson, incoming president, UMass Memorial Building a brighter future for Worcester and Central Massachusetts. For your next project, make the bright choice... IBEW Local 96. Call Business Manager Thomas J. Maloney at 508-753-8635 Brilliantly powering the future of Worcester 242 Mill Street, Worcester, MA 01602 508.753.8635 www.ibewlocal96.org AbbVie, Worcester UMASS Medical Center, Worcester PHOTOGRAPHY: SEYMOUR LEVY