United Way of R.I. has sold its headquarters in the Wayland Sq. and will relocate its offices to 50 Valley St. in the Olneyville neighborhood. 
"This is an historic day in the 80 year history of United Way in R.I.," UWRI president and CEO Anthony Maione said. "When we announced our intention to move, we said our goal was to relocate to an area where we could help serve as a catalyst in revitalizing a neighborhood. We believe we've met that objective. This is a concrete example of United Way's commitment to community impact.
"We have enjoyed being a part of the Wayland Sq. neighborhood for the past 30 years and are looking forward to being active members of the Olneyville community."
According to Maione, United Way will receive $4.375 million from RI Acquistions LLC for the 42,000 s/f, three-story property at 229 Waterman St. and will use those funds to finance a lease-to-purchase agreement for a 22,000 s/f building at Calender Mills, currently being developed by Struever Bros. Eccles & Rouse, Inc.
The Waterman St. building was sold via a bid process managed by the real estate firm of CB Richard Ellis of New England (Providence Office).
Maione said that United Way should be moving to Olneyville sometime in the spring.
He added that a special event will be held at the Waterman St. site to "decommission" the building, which was donated to United Way in the 1970s by Factory Mutual Insurance Co., now known as FM Global.