69 Milk Street, Westborough
In November of 2016, K Milk Street, LLC was formed to acquire 69 Milk Street, Westborough, Mass. 69 Milk Street was a 95% occupied converted mill building consisting of 40,046 s.f. of office/retail studio space located in downtown Westborough, Massachusetts. The building is situated on 1.982 acres with an additional 0.28 acre pad site. The Westborough Mill, as it is commonly referred to, is the premier boutique office property in Metrowest for companies looking to take advantage of the vast amenities of downtown Westborough while providing the chic industrial feel of exposed post and beam construction. Originally built in 1902 for the Westboro Weaving Company, the office conversion was completed in 1998 with all new electrical service, sand blasted beams and brick, new windows throughout along with refinished wood flooring. An elevator servicing all floors was installed in the new lobby on the westerly side of the building along the large parking lot.
Since acquiring the property, Kcres has maintained a low vacancy and completed many improvements. At the time of acquisition, the plan was to update the property with needed cosmetic improvements. Improvements to date include: a new break area/café on the first floor, the new entry way included tile flooring, paint, mailboxes and décor, the second floor included new carpet, paint and furniture and the third floor included the same plus a new HVAC system for the common area. Besides the cosmetic improvements, Kcres has also separately submetered 100% of the tenant’s electric charges, 7 of the 25 tenant spaces are now on their own gas meters, upgraded all common area lighting and exit signs to LED and completed much tenant improvement work. In 2018 the elevator had a major upgrade and multiple windows and sills have been replaced. A new roof with solar is planned for the near future.
Factory Square Franklin
In January of 2020, KCRES acquired this site consisting of five buildings and boasting total acreage of over 18 acres.
The property, formerly owned and operated by Clark-Cutler McDermott Company, Inc, served as their manufacturing and warehousing location for their product line of non-woven sound and vibration deadening padding for use in various General Motors and Volkswagen vehicles. The company was founded in 1911 and originally was a prominent maker of horse blankets. In July 2016, the fourth generation family business filed for Chapter 11 bankruptcy protection laying off 161 employees.