Horvath & Tremblay sells Branch Avenue Plaza - $10.625 million

Providence, RI Matt Nadler, Aaron Huntley, Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of Branch Avenue Plaza. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $10.625 million.

The Branch Avenue Plaza is located at 650 Branch Ave. Located in the Wanskuck neighborhood, the plaza was renovated in 2024 and is improved by a 75,847 s/f building on 8.09 acres. The property is 100% leased to nine tenants and is anchored by Dollar General, Oak Street Health (owned by CVS), and USTC (US Taekwondo Complex) with the remainder of the space leased to several local and regional retailers and service tenants that cater to the needs of the area residents. Branch Avenue Plaza offers a stable and secure asset with established tenants and long-term leases that feature scheduled rent increases and expense reimbursements. The property has been maintained and received more than $1.5 million in capital improvements including a new façade, a roof, and parking lot. Verogy Solar recently completed a major rooftop installation, and the owner completed several extensive tenant buildouts. The Branch Avenue Plaza is located at the intersection of Branch Ave. and RI Rte. 146, one of the area’s primary commuter corridors connecting the Wanskuck and Charles neighborhoods with downtown. 

The property has outstanding frontage and visibility from both Branch Ave. and RI Rte. 146 and is surrounded by populated residential neighborhoods that provide a built-in customer base. Branch Avenue Plaza is close to I-95 and US Rte.s’ 1 and 44 and is 2.5-miles from downtown in the city and the Central Business District.