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STILL STANDING: 
There is vacant office space in downtown Providence, but people in the local commercial real estate sector say landlords and banks haven’t reached a crisis level as others have nationwide. 
PBN PHOTO/­MICHAEL SALERNO

SHAKY GROUND: Distressed office real estate could undermine banks, wider economy

The former mayor of Providence is distressed. When Joseph R. Paolino Jr. walks through the city’s financial district, he’s anxious about what he sees. He...
ANXIOUS TIMES: Office vacancy rates in downtown Providence have been stable in recent months but are expected to rise this year amid ­national pressures created by rising borrowing costs and declining demand. 
PBN FILE PHOTO/­MICHAEL SALERNO

Pandemic fallout taking toll on commercial real estate

The COVID-19 pandemic has ended but the economic fallout is ongoing in some sectors of the economy, including commercial real estate. Owners and lenders invested...

Former R.I. Commerce Corp. president, COO Fagan joins CBRE Group

PROVIDENCE – Hilary Fagan, former president and chief operating officer of R.I. Commerce Corp., has joined CBRE Group Inc. as vice president. In this role,...

Five Questions With: Alden Anderson Jr.

Alden Anderson Jr., based in Providence, joined CBRE Group Inc. in 1994 and serves as senior vice president, leading the company’s New England operations....
THE DOWNTOWN PROVIDENCE office market continues to suffer an increasing vacancy rate since the start of the COVID-19 pandemic, reaching 15.85% for the fourth quarter of 2021, according to latest market figures provided by CBRE Inc. / PBN FILE PHOTO/CHRIS BERGNEHEIM

Are you concerned about the long-term effects of rising vacancy rates...

CBRE Inc. says the vacancy rate for downtown office space in Providence was 15.85% for the fourth quarter of 2021. That’s the highest rate...
THE DOWNTOWN PROVIDENCE office market continues to suffer an increasing vacancy rate since the start of the COVID-19 pandemic, reaching 15.85% for the fourth quarter of 2021, according to latest market figures provided by CBRE Inc. / PBN FILE PHOTO/CHRIS BERGNEHEIM

CBRE: Downtown Providence office vacancy at 15.85% in Q4, highest since...

PROVIDENCE – The vacancy rate for downtown office space in the city continues to increase since the onset of the COVID-19 pandemic, reaching 15.85%...

New URI president discusses business and the blue economy during economic...

PROVIDENCE – The University of Rhode Island's Business Engagement Center and the blue economy's connection to the school's curriculum, outreach and research was at...
INTO THE FUTURE: Mark K. W. Gim, bottom left, The Washington Trust Co. president and chief operating officer, provides his outlook for the Rhode Island economy at PBN’s Economic Trends Summit on Feb. 18. Also participating in the virtual event were, clockwise from top left, Thomas Tzitzouris, director at Strategas Research Partners; PBN Editor Michael Mello; Alden Anderson Jr., CBRE/New England senior vice president and partner; and Kristen Adamo, Providence Warwick Convention & Visitors Bureau CEO and president.

The recipe for recovery? Depends on whom you ask

Point of view matters, perhaps now more than ever. Indeed, panelists at Providence Business News’ Economic Trends Summit on Feb. 18 painted very different pictures...
MARK W. GIM, bottom left, The Washington Trust Co. president and chief operating officer, provides his outlook for the Rhode Island economy at PBN's Economic Trends Summit on Thursday morning. Also participating in the event was, clockwise from top left, Thomas Tzitzouris, director at Strategas Research Partners; PBN Editor Michael Mello; Alden Anderson Jr., CBRE/New England senior vice president and partner; and Kristen Adamo, Providence Warwick Convention & Visitors Bureau CEO and president.

PBN Economic Summit: Long-term crisis looms after stimulus runs out

PROVIDENCE – Fiscal stimulus and mass vaccinations should bring short-term economic relief, but a long-term crisis marked by structural unemployment, inflation and a bond...
THE COMMERCIAL PROPERTY AT 670-710 Narragansett Park Drive in Pawtucket was sold for $6.7 million to Legacy Gansett LLC. / COURTESY CBRE

Building in Pawtucket’s Narragansett Business Park sells for $6.7M

PAWTUCKET – The property at 670-710 Narragansett Park Drive, located in the Narragansett Business Park, was sold for $6.7 million to Legacy Gansett LLC,...
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