COVENTRY – A 16.7-acre property and a 96,300-square-foot industrial building recently sold for nearly $4 million, according to public records and an announcement by MG Commercial Real Estate Inc., which represented the seller.
The property is located at 538 Main St. in Coventry and includes land in Cranston, according to MG Commercial Real Estate.
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According to the quitclaim deed, a public record of the sale, the property was sold by Fiskeville Realty Co. I LLC, a limited liability company.
Fiskeville Realty is affiliated with Sihl Inc., which is a manufacturer of narrow- and large-format digital printing media and paper supplies, once using the Rhode Island manufacturing site to make products for market segment categories, including signage and photos, labels, tags and flexible packaging, according to its website.
Now headquartered in Tampa, Fla., with more than 400 employees companywide, Sihl continues to operate other locations in West Haven, Conn.; Charleston, Ill.; Corona, Calif.; and Houston, along with locations in Switzerland and Germany.
As recently as 2022, Sihl was headquartered in Fiskeville, a village of Coventry and Cranston, at the 538 Main St. site, according to the company’s website. During that year, Sihl made news by announcing its acquisition of Dietzgen Corp. in Tampa, according to a news release on the company’s website.
The property at 538 Main St. in Coventry and Cranston was purchased by Storage Five Coventry LLC, a limited liability company based in Seabrook, Texas, according to the quitclaim deed. According to its business incorporation filings with the R.I. Secretary of State, Storage Five Coventry was established to own and manage self-storage facilities, and the company is managed by Kreg Stanley, of Seabrook, Texas.
George Paskalis, partner at MG Commercial Real Estate, and Julie Freshman, member associate and vice president of MG Commercial, both represented the seller.
Bang Realty New England Inc., in association with AQRE Advisors, represented the buyer, according to MG Commercial Real Estate.
According to the town’s online property tax evaluation database, the industrial building was most recently valued by Coventry assessors in fiscal 2024 to be worth $1.28 million. The two-story brick building was constructed in 1930, according to the database.
Roughly 5.3 acres of land in Coventry was valued by assessors in fiscal 2024 to be worth $541,400, while Cranston assessors evaluated another 7.3 acres of land there to be worth $213,200, according to the cities’ online property tax evaluation databases.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X @LaRockObama.
