Fla. firm buys E.P. plaza

THE 225,900-square-foot retail shopping center is anchored by a Stop & Shop supermarket. Other tenants include Marshalls, NAPA Auto Parts, Savers and Dollar Tree.
THE 225,900-square-foot retail shopping center is anchored by a Stop & Shop supermarket. Other tenants include Marshalls, NAPA Auto Parts, Savers and Dollar Tree.

EAST PROVIDENCE – A real estate investment company based in Palm Beach, Fla., has purchased the Wampanoag Plaza in East Providence. The sale price was not disclosed and the transaction has not been recorded at East Providence City Hall.
Sterling Organization announced the July 14 acquisition in a press release. The property was purchased through the company’s institution fund, Sterling United Properties I LP.
The 225,900-square-foot retail shopping center is anchored by a Stop & Shop supermarket. Other tenants include Marshalls, NAPA Auto Parts, Savers and Dollar Tree. The plaza at 1925 Pawtucket Ave. is 96 percent occupied, according to the Sterling Organization.
The plaza, originally developed in 1970, was redeveloped in 1990 and had an extensive renovation in 2009 that included the construction of the anchor supermarket. The property last sold in June 2010 for $20.9 million, to US REP Retail LLC, according to city of East Providence records.

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