has a new name and soon,
a new home
New tenants will mean renewed interest in a former K-Mart shopping center, developers
of the center hope.
Aidan Murray, the leasing agent in charge of the Grossman Companies’ Towne Centre
(formerly the K-Mart Plaza) at the intersection of Taunton Avenue (Route 44)
and Fall River Avenue (Route 114A) in Seekonk, said he hopes to connect with
area high tech companies.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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The former K-Mart building consists of 106,000 subdividable square feet, with
a flexible floor plan, 18-foot ceilings and single-story layout. The building
has also been fiber optically wired.
"We’d like to capitalize on that and get some of the companies that are
scrambling around for space," Murray said. "This is the largest block
of space in the 195 corridor."
The site also includes a new Compass Bank branch, which opened in June. Murray
said the company recently broke ground on a new 9,000 square foot Post Office,
which will serve as Seekonk’s main Post Office, replacing the old facility,
also on Route 44.
The new post office is set to open in February 2001. Located near the rear of
the old facility, the new Post Office will be twice the size of the existing
building and offer increased parking, according to Bill Keegan, Seekonk town
administrator.
"It’s convenient to the public in that respect," he said. "Parking
was a big issue over there – there were so few spaces – but we wanted to try
to maintain that facility. It’s worked out really well."
The center’s easy access to 195 and 95 adds to its appeal, according to Keegan.
"It’s a very good location," he said. "The proximity to Providence
and East Providence – it’s easily located. I think the reason it [the center]
hasn’t done well from the retail perspective is that most of that type of business
is on Route 6. There has been interest in retailing on 44, but there are some
limitations on zoning that have prevented that."
Overall, Keegan said that developers are noticing Seekonk more and more.
"Our vacancy rate in Seekonk has dropped significantly in the past two
years," he said.
Grossman’s Murray said the company is trying to market Towne Centre to both
the retail and office sectors.
"We’re right on the border there," Murray said. "There are some
very large office users – Fleet, Citizens – they have huge back office operations
right there in that area."
Depending upon the interest of prospective clients, Murray said the Grossman
Companies might lease to one large company, or subdivide the space into smaller
sections. "Ultimately, what will drive the future of the property is the
first tenant," Murray said.
