Maine’s Shopping Center in South Kingstown sells for $3 million

THE MAINE'S SHOPPING Center at 585 Kingstown Road in South Kingstown recently sold for $3 million. / COURTESY LILA DELMAN COMPASS

SOUTH KINGSTOWN – A 19,900-square-foot shopping center in the town recently sold for $3 million, according to Lila Delman Compass, which represented the seller.

Maine’s Shopping Center is located at 585 Kingstown Road. The shopping center comprises seven units on 2 acres of land, and it has been fully leased since it was developed in 1971.

Tenants of the shopping center include businesses such as Verizon, Key Real Estate, Wakefield Fireplace & Grills, Consignments Ltd., Benjamin Moore, and Nutrition Dynamix.

The shopping center was a family business for more than a century, according to Lila Delman Compass.

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“Located in the historic village of Wakefield, the heart of South County, with visible frontage on the main thoroughfare and blocks from one of the highest-volume CVS, Starbucks and Stop & Shops in the state, this landmark property has been owned by the same family for over 100 years,” Lila Delman Compass said in a statement.

The property was most recently valued by South Kingstown assessors in 2023 as being worth $3.12 million, according to the town’s online property tax evaluation database.

Gregory Arakelian, commercial director at Lila Delman Compass, had an exclusive assignment on behalf of the seller to confidentially procure a buyer, the real estate firm said.

The shopping center property was previously owned by Frank W. Smith Jr. and Irene K. Smith, according to an obituary for Irene K. Smith published in 2020.

According to the warranty deed, a public record of the transaction, the property was sold by Varor Corp., a Rhode Island company led by its president, Christman Smith. The shopping center property was purchased by David Bazarsky and Carol Bazarsky, according to the deed.

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

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