PROVIDENCE – A property in Providence’s Huntington Industrial park changed hands on Tuesday.
The 67,200-square-foot industrial building at 300 Niantic Ave. sold for $4.2 million, according to CB Richard Ellis New England, which represented the seller.
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The property was purchased by Legacy Real Estate Ventures LLC in partnership with ProPartners in Parking LLC from ECP Niantic LLC.
“This purchase represents a great fundamental real estate buy, with secure long-term leases in place, that will provide a strong yield at a low basis,” said Michael L. Price, principal at Legacy Real Estate Ventures in a statement issued by CBRE/NE.
According to the release, the building is currently leased to Calise Bakery, J. Polep, Rhode Island PBS and S.G. Torrice Co.
Alden Anderson and Tom Barry from CBRE/NE represented ECP Niantic in the deal and procured the buyer. Financing for the acquisition was provided by Ameritas, coordinated through Ed Rierkstins of Northmarq.
Chris Bergenheim is the PBN web editor.
