What Chacharone Properties does

Chacharone Properties is a family-owned commercial real estate development, ownership, and property management firm headquartered in Worcester, Massachusetts, founded by Jim Chacharone in 1982 (originally as C&S Construction Co.) and operating under its current name since 2015 after rebranding from The Aster Group. The company has developed nearly 2 million square feet of commercial property across Central Massachusetts, with a portfolio spanning Class A office buildings (e.g., Chadwick Court, Lakeview Court), industrial and flex warehouse facilities, medical office complexes, and retail spaces in Worcester, Shrewsbury, Auburn, Sterling, Charlton, Marlborough, Sturbridge, and into Rhode Island. Its most significant development concentration is the South Worcester Industrial Park, where it has executed multiple build-to-suit projects for Table Talk Pies.

The firm operates a vertically integrated platform combining development, in-house design/build construction through C&S Construction (carpentry, plumbing, electrical, HVAC, paving), and full-service property management with 24/7 in-house maintenance. It serves a mix of enterprise industrial and manufacturing tenants (Table Talk Pies, Brownmed, Absolute Machinery), government (City of Worcester Transportation Department), healthcare (Saint Vincent Hospital), nonprofit (RCAP Solutions), financial services (United Bank), retail (Starbucks, Crust Bakeshop), and small commercial tenants. Long-term lease agreements and build-to-suit developments with purchase options are the primary commercial vehicles.

Revenue is generated through three streams: commercial property development gains (one-time on sale or lease-up of developed assets), recurring rental income from leased commercial, industrial, medical, and office space (the primary recurring stream), and property management and maintenance services delivered through C&S Construction. Go-to-market is sales-led and direct, leveraging the company website, LoopNet listings, enterprise field sales for major tenants, and direct outreach to city officials and large employers. Recent activity (2019–2020) has been anchored by the $3.9 million acquisition of the former Allegro Microsystems campus, a 30,000 sq ft cold storage build-out, and groundbreaking on a 120,000+ sq ft Table Talk Pies headquarters.

Name

Chacharone Properties

Legal name

Chacharone Properties LLC

Website

https://chacharone.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

11–50 employees

Short description

Chacharone Properties is a family-owned Worcester, Massachusetts commercial real estate firm that develops, owns, and manages approximately 2 million square feet of office, industrial, medical, and retail properties across Central Massachusetts, serving enterprise, SMB, government, and nonprofit tenants through a vertically integrated platform with in-house construction.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Lessors of Real Estate (5311)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Land & Development Site Brokerage (BPAJABAG)

Keywords

• Commercial real estate development
• Property management services
• Design-build construction
• Industrial property leasing
• Medical office properties

Headquarters

HQ city

Worcester

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Personnel, Supply Chain, Operations, Marketing or Sales

Revenue model

1. Commercial Property Development: Acquires land and existing buildings, develops new commercial and industrial properties, and sells or retains them for leasing. Revenue is generated through the appreciation and eventual sale of developed properties, as well as through leasing income from tenants.
2. Commercial Property Leasing: Leases commercial, industrial, medical, and office space to tenants under long-term lease agreements. This is the primary recurring revenue stream for the company.
3. Property Management & Maintenance Services: Provides in-house property management including design/build services, tenant fit-outs, and day-to-day maintenance (carpentry, plumbing, electrical, HVAC, paving) through C&S Construction, the company's in-house construction arm.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Chacharone Properties acquires, develops, manages, and leases commercial and industrial properties directly to tenants. The company operates with an in-house construction team (C&S Construction) offering custom turnkey build-outs. Leasing opportunities are listed on the company website and LoopNet, and the firm engages directly with city officials, large employers, and expanding businesses to facilitate build-to-suit or lease arrangements across Central Massachusetts.

Product overview

Chacharone Properties is a full-service commercial real estate development, management, and leasing company operating in Central Massachusetts. The company offers a vertically integrated platform combining property development, in-house design/build construction services, and property management. Their portfolio spans office buildings, industrial/flex warehouses, medical office properties, retail spaces, and land parcels across Worcester, Shrewsbury, Auburn, Sterling, Charlton, Marlborough, Sturbridge, and Rhode Island. Key offerings include Class A office properties (Chadwick Court, Lakeview Court), industrial facilities for manufacturing and distribution tenants, medical office complexes, and build-to-suit development services.

Differentiator

Problem solved

Functional benefit

Products and services

• Design & Build Services In-house construction services including rough carpentry, finish carpentry, drywall, finish work, windows, doors & hardware, painting, millwork, acoustical ceilings, flooring, electrical, plumbing, HVAC, and paving for tenant fit-outs and custom build-outs across the Chacharone Properties portfolio. Delivered by in-house C&S Construction staff.
• Property Management Full-service property management covering tenant relations, build-outs, fit-ups, repairs, landscaping, plowing, and day-to-day maintenance with a 24/7 in-house maintenance team (carpenters, plumbers, electricians, construction supervisors).
• Office Properties Portfolio Class A office buildings developed and leased to commercial tenants, including Chadwick Court (One West Boylston Street), Lakeview Court (102 Shore Drive), Brittan Court (299 Lincoln Street), and 20 Washington Square.
• Industrial/Flex Properties Portfolio Industrial and flex warehouse properties for manufacturing, distribution, and logistics tenants, including 10 Pullman Street, 233-243 Stafford Street, 100-250 Barber Avenue, and 50 Bearfoot Road in Northborough.
• Medical Office Properties Medical office buildings leased to healthcare providers and medical practices, including Sterling Crossing (100 Leominster Road, Sterling), 9 Trolley Crossing Road in Charlton, and 181 Main Street in Shrewsbury.
• Commercial & Retail Properties Commercial and retail spaces for small businesses and retailers, including 489 Washington Street in Auburn, the 40 Millbrook Street retail complex, and 456 Grove Street restaurant location.
• Land Parcels Land for sale including Quaker Highway in North Smithfield, RI (18.04 acres, listed at $1,500,000), offered with subdividable lots.
• South Worcester Industrial Park (SWIP) Build-to-Suit Development Build-to-suit commercial and industrial development at South Worcester Industrial Park, including custom facilities for Table Talk Pies (50,000 sq ft manufacturing facility, 30,000 sq ft cold storage facility, and 120,000+ sq ft headquarters under construction). Located at Armory Street and 25 Southgate Street in Worcester.

Quantifiable outcome

• Created nearly 2 million square feet of prime commercial property in Central Massachusetts over four decades
• +2 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered notable and minor.

• BrownmednotableStrategic or Co-development Partner · 23 July 2020Chacharone Properties partnered with Brownmed, MassMEP, and Worcester Public Schools to launch a temporary PPE manufacturing site at a Chacharone-owned location. Chacharone helped Brownmed find suitable space, enabling the site to launch in less than three weeks in June 2020. The site employed 65 Worcester high school students through summer internships.
• MassMEP (Massachusetts Manufacturing Extension Partnership)notableStrategic or Co-development Partner · 23 July 2020MassMEP facilitated the Brownmed temporary manufacturing site partnership, connecting Brownmed with Worcester Public Schools' Innovation Pathways Advanced Manufacturing Program and Chacharone Properties to create internships for Worcester high school students.
• Worcester Public SchoolsnotableStrategic or Co-development Partner · 23 July 2020Partnered through the Innovation Pathways Advanced Manufacturing Program to provide paid summer internships for Worcester high school students at the Brownmed PPE manufacturing site facilitated by Chacharone Properties.
• H&M BayminorOthers · 13 September 2019H&M Bay, a Maryland cold storage facility operator with local operations in Uxbridge, manages the 30,000 sq ft cold storage facility at Armory Street, South Worcester Industrial Park, developed by Chacharone Properties for Table Talk Pies and other tenants.
• Tippman InnovationminorOthers · 13 September 2019Tippman Innovation, an Indiana-based cold storage builder, constructed the 30,000 sq ft freezer building at Armory Street in the South Worcester Industrial Park for Chacharone Properties.
• Solect EnergyminorStrategic or Co-development Partner · 2 October 2016Chacharone Properties partnered with Solect Energy to install a 650 kilowatt solar system on the roof of its office and industrial property at 220 Brooks St. The partnership provides a non-traditional revenue stream, improves environmental footprint, and reduces energy costs.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• CBRE Group: World's largest commercial real estate services firm with leasing, investment sales, property management, and project management capabilities. Competes with Chacharone for enterprise tenants and large portfolio assignments across all asset classes.
• JLL: Global professional services firm specializing in real estate and investment management, including brokerage, property management, leasing, and capital markets. Overlaps with Chacharone on leasing, property management, and tenant advisory for office and industrial users.
• Cushman & Wakefield: Global commercial real estate services firm offering brokerage, property management, valuation, and advisory across all asset classes. Broad incumbent overlap with Chacharone on office, industrial, and medical tenant representation and asset management.
• Newmark Group: Global commercial real estate advisory firm offering leasing, investment sales, property management, and capital markets services. Competes with Chacharone on industrial and office leasing, tenant representation, and investment sales across New England.
• Colliers International: Global commercial real estate services and investment management company providing leasing, sales, valuation, and property management across office, industrial, retail, and healthcare. Competes with Chacharone for enterprise tenant mandates and asset services in Central Massachusetts.

Direct peers

• Cummings Properties: Massachusetts-based, vertically integrated commercial real estate developer, owner, and manager of office and industrial space with an in-house construction and maintenance capability. Closely comparable business model: long-term hold, vertically integrated development and management in New England.
• The Stubblebine Company: Massachusetts-based commercial real estate firm offering brokerage, investment sales, leasing, and property management across New England. Directly comparable to Chacharone's regional CRE ownership/leasing/management focus with similar asset class exposure (office, industrial, retail).
• Horvath & Tremblay: Massachusetts-based commercial real estate investment sales and leasing firm active in office, industrial, retail, and medical. Comparable to Chacharone in regional CRE transaction focus and tenant representation/leasing orientation.
• KeyPoint Partners: New England commercial real estate services firm providing leasing, investment sales, and property management across office, industrial, retail, and medical. Similar integrated brokerage/management model and regional scope.
• Boston Realty Advisors: Boston-area boutique commercial real estate advisor focused on investment sales, leasing, and consulting for office, industrial, and retail. Comparable as a regional CRE services competitor targeting similar tenant and investor profiles.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/chacharone
• LinkedInlinkedin.com/company/chacharone

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chacharone Properties