Ann & Hope garden outlet property in Cumberland sells for $3.5M

A MILL COMPLEX IN CUMBERLAND that was the home of the Ann & Hope outlet shop and garden center recently sold for $3.5 million. / COURTESY GOOGLE MAPS

CUMBERLAND – A 485,000-square-foot mill complex in Cumberland that was last used as an Ann & Hope outlet shop and garden center recently sold for $3.5 million, according to public records.

Ann & Hope Inc. sold the mill complex – last appraised in 2021 by town property assessors to be worth $2.6 million – to Hartford Holdings LLC, a Providence-based real estate company.

The brick mill buildings were constructed in 1886 and are located on 14.8 acres of land, according to town records.

The transaction follows another Ann & Hope property sale in Warwick, where a 147,000-square-foot section of the former Ann & Hope curtain and bath outlet store was bought for $7 million by Crossroads Capital Fund VI LLC, managed by Jeffrey Saletin and Cris Crecelius of Saletin Real Estate Group.

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A Rhode Island institution and an inspiration for Walmart Inc., Ann & Hope announced the closure of its 11 locations throughout Rhode Island, Massachusetts and Connecticut in 2020, as a result of the COVID-19 pandemic and other market pressures such as competition from online shopping.

The company was founded in 1953 by Russian immigrant Martin Chase, who first bought the Cumberland mill complex in 1946, renting out sections of the property before later turning it into a store.

The Valley Breeze previously reported that the Providence-based Premier Development is planning to convert the property into 200 residential units, along with some commercial units, including a restaurant space.

Marc Larocque is a PBN staff writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockPBN.

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