Category: Rhode Island

Providence, RI Shawmut Design and Construction, a leading construction management firm, joined GMH Capital Partners, Wexford Science & Technology, and the State of Rhode Island on June 20th for a ribbon cutting ceremony at the Innovation and Design District’s all-new River House, a 153,000 s/f waterfront community.

With over 200 companies and nearly 12,000 jobs at the Quonset Business Park, many Rhode Islanders are surprised at the diversity of work done at the park. My job as managing director of the Quonset Development Corp. is to create an environment for hundreds of distinct companies to thrive. Trussco, a leading manufacturer of wood components for the construction industry, is one company whose recent growth is impressive. 

Providence, RI Jim Conway of Conway Commercial Group sold 700 Douglas Ave. for $710,000. Conway represented the seller, 700 Douglas Avenue Realty, LLC, and Tom Barry of CBRE represented the buyer, Care 1st Transportation.  Financing was provided by Centerville Bank of West Warwick with utilization of SBA504 funding program.

Lincoln, RI Pare Corp., a leading multi-disciplinary engineering and planning firm, was awarded the 2019 Employer of the Year Award, recognizing the firm’s commitment to the advancement of women in the transportation industry by the Rhode Island Chapter of the Women’s

Rhode Island Infrastructure Bank’s Commercial Property Assessed Clean Energy (C-PACE) program empowers Rhode Island businesses with the tools necessary to make investments in renewable energy and energy efficiency. These upgrades reduce energy costs, in turn, affording commercial property owners the financial flexibility to build capital reserves or re-invest in their business. Furthermore, the off-balance sheet nature of C-PACE transactions allows building owners to maintain existing debt covenants while retaining future financial flexibility. 

Pawtucket, RI Kathleen Bartels, AIA, principal and co-owner of LLB Architects, was recognized by Providence Business News (PBN) with an Achievement Honoree Award at its 2019 Business Women Awards. PBN honors the success of high-achieving women in a variety of industries with these annual awards. 

Providence, RI Bank Rhode Island’s (BankRI) Commercial Real Estate Division has provided $28.4 million in financing to Cornish Associates for a major project in downtown, known as Down City II, LLC.

Warwick, RI Neil Amper, SIOR, vice president of Capstone Properties has sold a 18,400 s/f building located at 101 Hallene Rd. The facility is a trucking terminal  on 2.5 acres and in close proximately to the airport.

Pawtucket’s four opportunity zones are strategically located in areas of the city where increased investment would have the maximum impact and reinforce existing local and state incentives.

Cumberland, RI George Paskalis, SIOR and Julie Freshman of MG Commercial Real Estate completed the sale of a 29,873 s/f fully-leased, multi-tenant manufacturing/warehouse building located at 30 Industrial Rd.  

Cranston, RI DiPrete Engineering has welcomed its newest team member, Sam Rivera. Rivera is working with Eric Prive, senior project manager, serving as his supervisor.

Newport, RI The historic John Stacy House c.1845, located at 7 Bowery St., has sold for $1.525 million. This is the highest multifamily transaction in the state so far this year and the third highest multifamily transaction in the last twelve months.