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HIGH PRICES: Mike Giuttari, president of Providence-based commercial real estate brokerage firm MG Commercial, said because demand for commercial real estate is so high in the Greater Boston market and because the Rhode Island market is so close, contractors can charge high prices and if they don’t get them in the Ocean State, they can take their business to Boston. / PBN FILE PHOTO/RUPERT WHITELEY

After a strong 2018, signs of weakening in commercial real estate?

Living in the shadow of a giant can be difficult. Just ask those on the business end of Greater Providence’s commercial real estate market....
THE IGT CENTER building at 10 Memorial Boulevard in Providence was sold for $71 million. / PBN PHOTO/CHRIS BERGENHEIM

IGT Center sells for $71M

PROVIDENCE – The building at 10 Memorial Boulevard, known as the IGT Center, was sold for $71 million, according to property records. The sale closed...
THE HERITAGE BUILDING, located at 321 South Main Street, Providnece, was sold for $6.5 million. / COURTESY MOTT & CHACE SOTHEBY'S INTERNATIONAL REALTY

Heritage Building sells for $6.5M

PROVIDENCE – The commercial property at 321 South Main St., Providence, known as the Heritage Building, was sold for $6.5 million, according to Mott...
READY TO LEASE: Hayes & Sherry broker Matt Fair, left, and firm partner Peter Hayes are marketing about 3,500 square feet of available space at Providence’s IGT Center. / PBN PHOTO/TRACY JENKINS

There are vacancies in Providence, but large office spaces limited

The slow, steady conversion of vintage downtown buildings into residential spaces, or boutique hotels, has tightened the supply of Class B office space in...

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