SMITHFIELD, R.I. — Sweeney Real Estate has arranged a lease for 4,000 square feet of office space at 333 George Washington Highway in Smithfield. ELITechGroup Inc. leased the space from Lincoln Environmental Properties LLC. Kevin Casey of Sweeney Real Estate & Appraisal represented the landlord, while Gerry Surprenant of MG Commercial Real Estate represented the lessee in the deal.
DALLAS — The Dallas office of HFF has arranged post-acquisition financing for a portfolio of 154 convenience and gas station sites totaling 97.8 acres in the Northeast. The loan was provided by a consortium of lenders led by Capital One and BMO Harris. Andy Scott and Michael George of HFF’s Dallas office arranged the five-year, floating rate acquisition financing with 18 months of interest-only payments for the borrower, a subsidiary of a private real estate investment fund advised by Crow Holdings Capital-Real Estate. The portfolio comprises 88 sites in New York, 45 sites in Massachusetts, 11 sites in Connecticut, seven sites in New Hampshire, two Rhode Island sites and one site in Pennsylvania. All properties are subject to an absolute net lease for 20 years with a subsidiary of Petroleum Marketing Group. The amount of the loan was not released.
PROVIDENCE, R.I. — The Omni Provident Hotel has completed a $15 million renovation program to its West tower. Renovations at the 564-room hotel, located at 1 W. Exchange St. in Providence, include guest rooms, landings and public spaces receiving fresh designs that complement elements of local New England flair. Each guest room features new vinyl wallcoverings and carpeting, custom bedding and drapery, plush seating, artwork and modern decorative lighting. Upgrades to the guest room bathrooms include new vanities, wallcoverings, illuminated mirrors, and new finishes and materials. Additionally, the guest corridors and elevator lobbies received new carpeting, furnishing, wallcoverings, paint, contemporary light fixtures and artwork.
Woonsocket, R.I. — KeyPoint Partners has negotiated a lease with Aerosports Trampoline Parks for nearly 35,000 square feet of space at Walnut Hill Plaza in Woonsocket. Don Mace of KeyPoint negotiated the transaction on behalf of the landlord. Walnut Hill Plaza is a 298,600-square-foot shopping center on Diamond Hill Road (Route 114) in Woonsocket. Tenants at the center include Sears, Ocean State Job Lot, Savers, Olympia Sports, Payless, and the Walnut Hill Bowl.
Middletown, R.I. — Leicester Associates has sold 875 Aquidneck Ave. in Middletown to Middletown Self-Storage LLC for $1.8 million. The property is a 15,000-square-foot office and distribution center that is located along Route 138A on 1.66 acres of land. Thomas Sweeney of Sweeney Real Estate & Appraisal was the exclusive broker on this transaction.
NORTH KINGSTOWN, R.I. — Holliday Fenoglio Fowler, L.P. (HFF) has represented Waterford Development Corp and XSS Hotels in the sale of the 104-suite TownePlace Suites Providence North Kingstown, which was sold unencumbered by management. HFF also procured the buyer, whose name was not disclosed. The TownePlace Suites Providence North Kingstown is located 19 miles south of downtown Providence and 12 miles south of T.F. Green Airport within Quonset Business Park, which is home to nearly 200 companies, The Port of Davisville and Quonset State Airport. Completed in 2011, the Marriott-branded hotel features fully-equipped kitchens in each suite, complimentary high-speed internet access, complimentary breakfast, a sundry/convenience store, fitness center, heated indoor salt water pool, business center, barbecue/picnic area, guest laundry and complimentary shuttle service. The HFF investment sales team representing the seller was led by Denny Meikleham and Alan Suzuki.
WOONSOCKET, R.I. — Sweeney Real Estate & Appraisal has brokered the sale of the former Woonsocket Glass & Mirror building, located at 500 Pond St. in Woonsocket. T&T Woodworkers acquired the 12,791-square-foot property for an undisclosed price. The property features a drive-in door, loading dock, 18-foot ceiling heights in the warehouse, office space and a showroom area. Thomas Sweeney of Sweeney Real Estate & Appraisal represented the seller, Woonsocket Glass Fabricators, while Larry Steingold of MG Commercial represented the buyers in the deal.
WARREN, R.I. — KeyPoint Partners has negotiated a lease with Maxx Fitness Clubzz at Ocean State Plaza in Warren. Maxx Fitness Clubzz will occupy 23,042 square feet of space on the Vernon Street side of the 126,200-square-foot shopping center on Metacom Avenue. Other tenants at the center include Ocean State Job Lot, Family Dollar, Fantastic Sams, Elsie’s Bakery and East Bay Printing & Copying. Don Mace of KeyPoint represented the undisclosed landlord in the deal.
WARWICK, R.I. — Sarchi Group has acquired Sheraton Providence Airport Hotel, a full-service hotel adjacent to T.F. Green Providence Airport in Warwick. Located at 1850 Post Road, the 207-room hotel features concierge services, a fitness center, indoor pool, Sheraton Club Lounge, complimentary high-speed Internet access and BlueFire Grille. Denny Meikleham and Alan Suzuki of HFF represented the buyer and undisclosed seller in the deal.
WESTERLY, PROVIDENCE AND WARWICK, R.I. — Rhode Island Commerce Corp. Board of Directors and Rhode Island Governor Gina Raimondo have approved more than $7 million in state relocation and redevelopment credits. Funding three projects, the economic development tools include $362,055 in tax credits under the Qualified Jobs Incentive Tax Credit Program to support company relocation and growth, $3 million for the first Tax Increment Financing agreement to support hotel development and $3.6 million Rebuild Rhode Island tax credits to fund the redevelopment of a historic property. Ivory Ella, a socially-minded online retailer, will receive the $362,055 for the relocation of 40 of its current jobs, 19 of which qualify under the Qualified Jobs Incentive Tax Credit program, from Connecticut to Westerly. Homewood Suites Hotels – Exchange Street LLC will receive $3 million for the construction of a $24.5 million 120-room hotel with ground-floor retail in downtown Providence. The board approved $3.6 million in Rebuild Rhode Island tax credits to support the adaptive reuse of a vacant historic mill complex along the Pawtuxet River in Warwick. The property will be redeveloped into a 200,000-square-foot mixed-use development, costing an estimated $34.6 million.
