Patel Plaza, LLC purchased 11 Bridge St., Rte. 38. The 1.5 acre site has 500 feet of frontage on Rte. 38 and contains a 1,500 s/f building. Planned renovations are all new systems and will be converted to a convenience store.
The sale was handled for The Kelly Arsenault Revocable Trust by Ed Bisson of Re/Max Prestige Real Estate. Harry Shea of Shea Commercial Properties represented Patel Plaza.
The sale price according to the registry of deeds was $350,000.
East Providence, RI Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of Newport Center. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $8.5 million
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.