Tops Electrical Supply block sold for $1.5M, part of proposed PawSox ‘Plan B’

THE COLLECTION OF PROPERTIES that have been proposed as an alternative site for the Pawtucket Red Sox downtown baseball stadium, shown here in a schematic released in April by the owners of the properties, may be affected by the recent sale of the Tops Eletrical Supply block to 1145 Main Associates of Pawtucket. / COURTESY JAG INVESTMENT REALTY
THE COLLECTION OF PROPERTIES that have been proposed as an alternative site for the Pawtucket Red Sox downtown baseball stadium, shown here in a schematic released in April by the owners of the properties, may be affected by the recent sale of the Tops Eletrical Supply block to 1145 Main Associates of Pawtucket. / COURTESY JAG INVESTMENT REALTY

(Updated 2:55 p.m.)
PROVIDENCE – The Tops Electrical Supply block downtown has been sold with eventual plans for mixed-use redevelopment, according to listing agent Peter M. Scotti & Associates Inc.
Tops Electrical, a wholesale business for electrical supplies, will continue to operate from the location in the meantime, said Peter M. Scotti. “Ultimately, it will be a redevelopment site,” he said.
As recently as April, the property was included among the assembled parcels being pitched as a “Plan B” to owners of the Pawtucket Red Sox, who are trying to locate a new ballpark for the AAA team on a riverfront site in Providence. The “Plan B” site also included 5.2 acres of cleared land held by JAG Investment Realty and property occupied by Coletta’s towing garage.
Scotti wouldn’t address the prospect of Tops turning into a ballpark site on Monday, but said the plan for the property will eventually include redevelopment. The owner of Coletta’s could not be reached Monday.
The 40,000-square-foot property on Point Street extends from Richmond to Parsonage streets, between Eddy Street and Interstate 95. The sale price was $1.5 million.
The sale from City Top Realty Inc. and Carol Wolf of Providence, to 1145 Main Associates of Pawtucket was completed this week, Scotti said.
City assessor records indicate the industrial building, constructed in 1900, and two adjacent parking lots were valued at $870,800 in 2014.
The property was on the market for about 18 months, Scotti said.

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  1. hopefully the buildings on Point Street will not be taken down but rehabbed. Also that any construction is on the street rather than set back.. What is striking with the above photo are the number of surface parking lots in this district. It seems that 50% of the land use is for parking. Developers should be looking to build on these lots and add to the density of the area rather than perpetuating these parking lots.