Commercial Real Estate - Providence Business News

WATCH THIS SPACE: Stacey Messier, general manager at Cambridge Innovation Center Providence, a 62,000-square-foot coworking office established at 225 Dyer St. in 2019, says she believes the business model “continues to rise in popularity.”  PBN FILE PHOTO/RUPERT WHITELEY

Despite failures, landlords still see future in coworking spaces

Economy 12/08/2023

The recent bankruptcy filing by national coworking space operator WeWork Inc. – once valued at $47 billion before its estimated worth plummeted to $360.9...

Citizens Financial Group reports $487M profit in Q2

Economy 07/19/2023

PROVIDENCE – Citizens Financial Group Inc. on Tuesday reported a 31% rise in quarterly earnings compared with a year ago, beating Wall Street estimates...

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

Cover Story 07/07/2023

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

Coronavirus 07/07/2023

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...

Growth of self storage raising some alarms

Focus 07/07/2023

Driving up Interstate 95 on a recent evening, Richard Godfrey, executive director of Roger Williams University’s real estate program, couldn’t help but notice a...

Rascionato to lead Citizens Financial Group Commercial Real Estate team

Financial Services 03/20/2023

PROVIDENCE – Citizens Financial Group Inc. has named Jessica Rascionato to lead its Commercial Real Estate team, the company announced on March 6. Rascionato, who joined Citizens...

Partners purchase Hayes & Sherry commercial real estate firm

Economic Activity 09/13/2022

PROVIDENCE – One of the region’s leading full-service commercial real estate brokerage firms is changing owners. Hayes & Sherry founding owners, Pete Hayes and Karl...