WARWICK – The shopping center property at 1276 Bald Hill Road was sold for $8 million to 1276 Bald Hill Rd LLC, a company managed by Zi Qian Zhang, according to property records.
The commercial property was sold by U.S. National Bank, which purchased the property in 2014 for $8 million. The property, which is divided into two lots, was last assessed at a combined $14.3 million in 2019. The property was purchased for $18.5 million in 2006.
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The property card for the two lots has been suppressed in public records due to questions on the transaction, according to the Warwick tax assessors office. The office said that the company has disputed the assessed value of the property, saying that the assessment reflects an outdated real estate market evaluation.
The property has anchor stores of Staples, PetSmart, Pier 1 Imports and Chili’s Grille and Bar.
The company that purchased the property is headquartered in Fall River at the same address as two other business, 2788 Post Road LLC and 601 Smithfield Ave LLC, both also managed by Zhang, according to state business records. Zhang is also listed as a company manager of Sandy Property LLC, a company headquartered at the address of Kon Asian Bistro & Hibachi Grill in East Greenwich.
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
