JLL Arranges $55.7M Sale of Shopping Center in Lincoln, Rhode Island

LINCOLN, R.I. — JLL’s Retail Capital Markets team has arranged the sale of the Lincoln Commons shopping center in Lincoln for $55.7 million. The 578,000-square-foot property is located at the I-295 and Route 146 intersection, close to downtown Providence. Tenants include Stop & Shop, Target, Marshalls and Homegoods. The buyer was Acadia Realty Trust. The seller was not

July 24, 2019Acquisitions, Northeast, Rhode Island

Northeast Private Client Group Brokers $7.3M Sale of Rhode Island Apartments

PROVIDENCE, R.I. — Northeast Private Client Group (NPCG) has brokered the $7.3 million sale of Ambassador Apartments, a residential building in Providence that consists of 33 apartments and three single-family homes. The property is located near Brown University as well as the shops and restaurants of nearby Thayer Street. Tim McGeary of NPCG represented the seller, DiPrete Realty Investment, and procured the buyer, S.M.H. Grandview, both of which are based in Rhode Island. The deal closed at …

July 17, 2019Acquisitions, Multifamily, Northeast, Rhode Island

GMH, Wexford Open 270-Bed Student Housing Property in Providence

PROVIDENCE, R.I. — A partnership between GMH Capital Partners LP and Wexford Science & Technology LLC has opened River House, a 270-bed student housing community in downtown Providence. The property’s 174 units come fully furnished and will serve students attending Brown University, the University of Rhode Island and the Rhode Island School of Design, among others. Communal amenities include a 24-hour fitness center, rooftop lounge with outdoor grilling stations and a kitchen bar, a …

June 20, 2019Development, Multifamily, Northeast, Rhode Island, Student Housing

Rhode Island — The Land of Hotels, Schools and Medical Properties

Thus far in 2019, much of the growth and development in Rhode Island has been focused on downtown Providence. Much of this has to do with the colleges and hospitals, as well as the residential component in general. But Rhode Island continues to develop hotels, especially in downtown, due in part simply to having a vibrant, in-demand city. Officials want to create the ability for Providence to compete for and attract top-tier conventions. [caption id="attachment_228950" align="alignright" …

May 22, 2019Hospitality, Market Reports, Northeast, Northeast Market Reports, Rhode Island

Pharmaceutical Supplier Signs 32,025 SF Flex Lease in Smithfield, Rhode Island

SMITHFIELD, R.I. — High Purity New England Inc., a manufacturer and distributor of products for the pharmaceutical industry, has signed a 32,025-square-foot flex lease at Smithfield Office Center, about 15 miles northwest of Providence. Dan Cregan of CBRE represented High Purity New England in the lease negotiations. Alden Anderson, also of CBRE, represented the landlord, Thurber Properties LLC. Smithfield Office Center is a 38-acre, 180,000-square-foot campus located off Route 7 at the …

April 18, 2019Industrial, Leasing Activity, Northeast, Office, Rhode Island

Sweeney Real Estate Orchestrates $1M Sale of Industrial Facility in Providence

PROVIDENCE, R.I. — Sweeney Real Estate has arranged the $1 million sale of an industrial facility in Providence. Located at 382-420 and 780 Harris Ave., the 21,649-square-foot property is located on nearly one acre. Thomas Sweeney, of Sweeney Real Estate represented the buyer, Partial Research Group LLC, in the transaction. Jim DeRentis of Residential Properties represented the seller, Bone House

March 22, 2019Acquisitions, Industrial, Northeast, Rhode Island

CBRE Brokers $6.9M Sale of Industrial Facility in Rhode Island

CRANSTON, R.I. — CBRE has brokered the $6.9 million sale of a 234,600-square-foot industrial facility in Cranston. Located at 2700 Plainfield Pike, the property consists of 225,000 square feet of distribution space. The facility also includes a 9,600-square-foot truck maintenance facility with fueling area. Gerald Lavallee of CBRE represented the seller, First Bank and Trust Company of Illinois, in the transaction. The buyer was Equity Industrial Partners, which plans to update the facility …

March 13, 2019Acquisitions, Industrial, Northeast, Rhode Island

Cushman & Wakefield Arranges Sale of 371-Unit Seniors Housing Portfolio in Rhode Island

PROVIDENCE, R.I. — Cushman & Wakefield Senior Housing Capital Markets has arranged the sale of three senior communities in metro Providence. An institutional investor sold the 371-unit independent living, assisted living and memory care portfolio for an undisclosed price. The buyer was Capital Health Group, a Baltimore-based investor seeking value-add opportunities in the area. Milestone Retirement Communities LLC, an affiliate of Capital Health Group, will take over operations at …

March 6, 2019Acquisitions, Northeast, Rhode Island, Seniors Housing

CBRE Negotiates $4.3M Sale of Industrial Facility in Rhode Island

WARREN, R.I. — CBRE has negotiated the sale of a 64,294-square-foot industrial facility in Warren. Located within the Warren Industrial Park at 15 New Industrial Road, the facility is set on more than 11 acres of land. The facility was most recently occupied by FedEx. Daniel Cregan and Thomas Barry of CBRE represented the undisclosed seller in the transaction. The buyer was Mussuchuck Properties

February 21, 2019Acquisitions, Industrial, Northeast, Rhode Island

Talonvest Arranges $17.4M Acquisition Loan for Self-Storage Portfolio in Rhode Island

Rhode Island — Talonvest has arranged a $17.4 million acquisition loan for a self-storage portfolio in Rhode Island. The three properties consist of 1,416 storage units across 177,575 square feet. Erich Pryor, Jim Davies, Tom Sherlock, and Terra Hendrich of Talonvest represented the borrower, Rosewood Property Co. in the transaction. The lender was a national bank. Terms of the financing included a 10-year, fixed-rate loan with interest-only payments for the full loan term. The three metro …

January 24, 2019Acquisitions, Industrial, Loans, Northeast, Rhode Island, Self-Storage