PROVIDENCE – The building at 10 Memorial Boulevard, known as the IGT Center, was sold for $71 million, according to property records.
The sale closed Dec. 27. The Class A commercial property was sold by 10 Memorial Boulevard Owner LLC to TFG Providence Center Property LLC, a subsidiary of the Boston-based Tritower Financial Group.
Beyond Cash Donations: How New Forms of Giving Are Transforming Not-for-Profit Accounting
Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,…
Learn More
The seller is a subsidiary of R.J. Kelly Co., headquartered in Burlington, Mass. The company acquired the building in 2012 for $51.5 million. The building was last assessed at $55.3 million.
The building serves as the U.S. headquarters for International Game Technology PLC but also features other tenants. In a recent interview with PBN, the now former IGT Chairman Donald R. Sweitzer said construction of the building was one of his biggest achievements at the company.
The property landlord remains Capital Properties Inc., which issued the original ground lease.
The building is a 10-story glass and metal-exterior office building located near the Providence Place mall. The 202,096-square-foot building also has a 250-space parking garage.
The building is 97 percent occupied, according to Hayes & Sherry, which brokered the deal.
Chris Bergenheim is the PBN web editor. Email him at Bergenheim@PBN.com.
