Ozzy Properties’ strength lies in its ability to significantly improve underutilized, distressed or foreclosed properties, returning them to the rental market at aggressive rates. Its portfolio of stabilized properties proves a 90 percent occupancy rate. In the first year of the ownership of Heritage Place in Lawrence, MA, a 300,000 square foot mill complex, the building’s occupancy soared from 15 percent to 70 percent in only 9 months.
The cornerstone of Ozzy Properties’ corporate direction lies in the redevelopment of undervalued mill space. Often, these buildings lie vacant or are misused as warehouse space. Ozzy Properties has recognized with investment and dedication the buildings can be renovated and re-leased as professional office and research and development space. Ozzy Properties boasts several such complexes in Massachusetts.
Ozzy Properties, Inc. was formed in December of 1994 to manage the Washington Place Apartments in Methuen, Massachusetts. Currently, Ozzy Properties has approximately 2 million square feet of office and retail space and 100 residential units under management. These properties are located in Andover, North Andover, Lawrence, Boston and Methuen, Massachusetts.