PROVIDENCE – The Aldrich Mercantile Building in downtown Providence has changed hands. The five-story brick building, at Pine and Dorrance streets, sold for $3.5 million to 72 Pine Street LLC, a company associated with a commercial real estate firm in Miami, according to a news release.
MG Commercial Real Estate represented both buyer and seller.
The sale was recorded on Nov. 6, according to the Providence Assessor’s office. The building was assessed at $2,350,900 in 2014, when owned by Aldrich Mercantile LLC, according to the tax records.
The building has 28,000 square feet of office space and is fully occupied, by four law firms, including Pierce Atwood LLP and Rice, Dolan & Kershaw. The lower level now features 13 storage units, according to a description from MG Commercial.
Built in 1883, the building was occupied by the Rhode Island Office of the Attorney General through the 1990s. The previous owner, who purchased the building in 1998, made significant property improvements and upgrades, according to MG Commercial.
Gerry Surprenant, MG Commercial executive vice president, represented the seller. Dan Feiner, MG Commercial senior vice president, represented the buyer.
