New Owners Plan $7M Conversion of Worcester Manufacturing Building

Manzo Freeman Development purchases 166-year-old property to transform into modern commercial space

Apr. 1, 2026 at 8:49pm

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Manzo Freeman Development has acquired a 5.4-acre manufacturing site at 60 Fremont Street in Worcester, Massachusetts for $3.6 million. The company plans to invest $6.5 to $7 million to renovate the 166-year-old, three-story brick building into flexible commercial and office space, maintaining its historic charm while modernizing the property.

Why it matters

This project represents the continued transformation of Worcester's industrial landscape, as older manufacturing facilities are being repurposed into contemporary commercial spaces. The conversion of the 60 Fremont Street building aligns with broader trends of leather production moving overseas and the need to adaptively reuse aging properties in the region.

The details

Manzo Freeman Development purchased the site from longtime owner James Devaney, co-founder of Abas Accessories, who is winding down his leather goods business. The firm plans to upgrade bathrooms, signage, lighting, landscaping, and potentially add a new roof to support solar panels. They will also modify the building to bring in more natural light. Manzo Freeman is partnering with Ferjulian's Farm to create an arboretum feel through hanging baskets and flowers. The company has already begun lining up new tenants for potential fitness, nonprofit, and medical office uses.

  • Manzo Freeman Development purchased the 5.4-acre site for $3.6 million on Tuesday, April 1, 2026.
  • The firm plans to complete renovations and lease up the building within the next one to two years.

The players

Manzo Freeman Development

A real estate development firm that focuses on converting older buildings into modern commercial spaces. The company operates across properties rather than from a centralized headquarters.

James Devaney

The co-founder of Abas Accessories, who has been manufacturing leather goods at the 60 Fremont Street site and is now winding down the business as he prepares for retirement.

MARK Development

A Newton-based firm that is serving as a co-general partner on the 60 Fremont Street project.

Middlesex Savings Bank

The bank providing financing for the Manzo Freeman Development project.

Ferjulian's Farm

A Hudson-based farm that is partnering with Manzo Freeman to bring an arboretum feel to the 60 Fremont Street building through the use of hanging baskets and flowers.

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What they’re saying

“We don't manage from some ivory tower in New York City or Boston. We know every tenant, and we are devoted. It sounds a little corny, but we are devoted to the success of our tenants and the community, because when they're successful, we're successful.”

— Joe Freeman, CEO and Director of Business Development, Manzo Freeman Development

“There's a good opportunity to probably triple that with operating income from the building over the course of that investment.”

— Michael K. Manzo, Managing Partner and President, Manzo Freeman Development

What’s next

Manzo Freeman Development plans to complete renovations and fully lease the 60 Fremont Street building within the next one to two years.

The takeaway

This project highlights the ongoing evolution of Worcester's industrial landscape, as aging manufacturing facilities are being repurposed into modern commercial spaces that cater to the needs of today's businesses and workers. The adaptive reuse of the 166-year-old building at 60 Fremont Street represents a broader trend of breathing new life into the city's historic structures.