2 commercial properties in West Greenwich Business Park for sale via online auction

TWO SIGNIFICANT COMMERCIAL properties in the West Greenwich Business Park are scheduled to be sold via online auction in September, including this Class A office building leased by International Game Technology PLC. /COURTESY TEN-X COMMERCIAL REAL ESTATE
TWO SIGNIFICANT COMMERCIAL properties in the West Greenwich Business Park are scheduled to be sold via online auction in September, including this Class A office building leased by International Game Technology PLC. /COURTESY TEN-X COMMERCIAL REAL ESTATE

WEST GREENWICH – Two significant commercial properties in the West Greenwich Business Park are scheduled to be sold via online auction, including an office building leased by International Game Technology PLC. A total of 265,000 square feet of office space is available.

Both properties are owned by LNR Partners LLC, based in Miami Beach, Fla., and are scheduled for auction in September, according to listing information on the Ten-X Commercial Real Estate platform.

The sale is listed by Calkain Companies, of Reston, Va., and MG Commercial Real Estate, of Providence.

The largest site, a Class A office building, is at 55 Technology Way, covering 170,000 square feet. The bidding will start at $7 million, according to the information. The building, which sits on a 10.8-acre site, is fully occupied by IGT, which recently renewed a 10-year lease, according to MG Commercial Realty.

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The building and site were valued in 2017 in a West Greenwich assessment at $17.1 million, according to online property records.

The building was built in 1993 but as part of the IGT lease renewal, more than $2.3 million in interior renovations will be completed, as well as a new roof.

Its neighbor, at 53 Technology Way, is a 93,000-square-foot office building. The starting bid is $1 million. This building, which is vacant, has three levels and sits on a 7-acre campus.

This property was valued by the West Greenwich assessment at $10.4 million, according to online property records.

The building previously was leased to Immunex, which vacated in 2014, according to the property description. The building was constructed in 1990 and while it was occupied by Immunex, received significant remodeling.

Property tours are available on Aug. 22 and Sept. 7.

The online auctioning for both properties will begin on Sept. 11 and end Sept. 13.

For more information, visit the Ten-X website.

Mary MacDonald is a PBN staff writer. Email her at MacDonald@PBN.com, or you can follow her on Twitter @MaryF_MacDonald.

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