Former Benny’s HQ and distribution center buildings sell for $20

THE FORMER BENNY'S headquarters and distribution center, at 340 Waterman Ave. in Smithfield, has sold for $20 to a real estate holding company. / COURTESY SWEENEY REAL ESTATE & APPRAISAL

SMITHFIELD – The former distribution and headquarters of Benny’s has sold for $20, according to real estate records. The amount covers a total of 10 parcels, including property and mill buildings.

The site had been on the market for several years, and was initially reported to be under contract in January 2019. The purchase, completed on March 26, transferred the site from Esmond Realty Corp. to 340 Waterman Avenue LLC, a real estate holding corporation with the Warwick-based Marinosci Law Group PC as its registered agent.

Sweeney Real Estate & Appraisal represented the seller, Esmond Realty, in the transaction.

The former Esmond Mill, built over a number of buildings, was constructed in 1906. It was the home of the family-owned Benny’s stores since the early 1960s.

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It was assessed by the town of Smithfield at $2.5 million in 2020, according to town records. The original list price was $4.95 million.

In a news release, Sweeney said the 612,000-square-foot headquarters and distribution center sits on 28.5 acres. The new owners plan a mixed-use redevelopment on the site, according to Sweeney.

The new owner could not be reached for comment. The town of Smithfield planning office also could not provide immediate information as to whether a redevelopment plan had been filed.

Mary MacDonald is a staff writer for the PBN. Contact her at MacDonald@PBN.com.

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