PROVIDENCE – A downtown office building next to the Providence River known as the Owen Building recently changed hands in a $3.5 million property deal, according to public records.
The 101 Dyer St. property was sold by Owen Building LLC to the newly established Middletown-based Halo Investments LLC, according to a copy of the warranty deed, a public record available through the city’s recorder of deeds.
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The five-story building, constructed in 1868, is also listed by the city in public records as 4 Pine St.
The office property is home to tenants, including Capriccio Restaurant, a white-linen dining destination; Providence River Boat Co., an open-air boat tour business; and Providence Kayak Co., a rental and tour business.
Owen Building LLC is affiliated with The Koffler Group, a private, full-service real estate company, which includes a division called KGI Properties that has long managed the office space at the Dyer Street building. The company manages a total portfolio worth $350 million, spanning 2.2 million square feet of retail, office, industrial and multifamily real estate in Rhode Island, Connecticut, Massachusetts, New Hampshire, Vermont and Maine.
The identity of the investors behind Halo Investments was not immediately known.
The Owen Building, with a flat roof, fine-pressed brick exterior and a bracketed metal cornice that runs along the top of the facade, was last valued by the city in fiscal 2022 as being worth $5.45 million, according to online Providence property tax assessor records.
The 51,000-square-foot property was listed on the National Register of Historic Places in 1982. The Owen Building and the neighboring Hay Building at 123 Dyer St. are considered lone survivors of buildings that made up a once bustling, densely built harborside marketplace district. “The Owen block,” as the properties were called, was built up by Providence jewelry manufacturing firm proprietors George and Smith Owen, and the two buildings were once used by wholesale produce businesses, dry goods merchants, creameries, groceries, printers and tinware stores.
Marc Larocque is a PBN contributing writer.
