PROVIDENCE – The PPAC Square Garage in downtown Providence recently sold for $6.8 million, according to public records.
The three-level garage at 231 Weybosset St., which contains around 325 parking spaces, was purchased by Fruitcake LLC, a newly formed limited liability company, according to the quitclaim deed, a public record of the sale.
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Fruitcake LLC is managed by Cohen Properties II LLC, a limited liability company based in Maine. The company is headed by its CEO and president, Jonathan Cohen, a key commercial real estate developer of the eastern waterfront in Portland, Maine, and other prime retail locations.
The commercial property on Weybosset Street was sold by Parking Garage Associates LLC, a Providence-based limited liability company.
Parking Garage Associates is owned and managed by Bliss Properties Inc., a fourth-generation Providence-based property management company that manages more than 1.5 million square feet of commercial, office and retail space, including Warwick Mall. Bliss Properties is managed by its president and chief financial officer, Lisa Regan, according to the quitclaim deed.
The parking garage was constructed in 1982, with a total of 45,072 square feet of parking garage space, according to the city’s online property tax evaluation database. The property comes with 0.51 acres of land and nine outdoor light fixtures, according to the database.
The parking garage, located across the street from the Providence Performing Arts Center, was most recently valued by Providence property assessors in fiscal 2024 as being worth $3.37 million, according to the city’s online property tax evaluation database. The land was valued to be worth $1.28 million, according to the database.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X @LaRockObama.
