Woonsocket warehouse building occupied by CVS sells for $1.65M

A WAREHOUSE that remains occupied by CVS Health Corp. at 220 Founders Drive in Woonsocket was recently sold for $1.65 million to G3 220 Founders Drive LLC, a real estate holding company in Cranston affiliated with the Tasca Automotive Group. / SCREENSHOT VIA GOOGLEMAPS.COM

WOONSOCKET – A 20,876-square-foot warehouse building in Woonsocket that’s occupied by CVS Health Corp. was recently sold for $1.65 million, according to Sweeney Real Estate & Appraisal.

The 220 Founders Drive property was acquired by G3 220 Founders Drive LLC, a real estate holding company based in Cranston affiliated with the Tasca Automotive Group. Tasca owns several other properties surrounding the warehouse building, including a Chevrolet dealership and a Buick/GMC dealership.

The warehouse building remains leased by CVS, according to Sweeney Real Estate, which represented the buyers in the transaction.

The property was sold by Front Street Realty Corp., which is based in East Greenwich and headed by President Mary Beth Dumouchel.

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Eric Schultheis and Kevin Casey of Sweeney Real Estate teamed up for the first time on this transaction to represent G3, according to the firm.

The property was owned by Front Street Realty Corp. since at least 1990, according to city property records.

The concrete warehouse building, with a flat tar and gravel roof, was constructed in 1975 on a 2.69-acre lot in an I2 zone of Woonsocket, which is a heavy industrial district. The property includes 40,000 square feet of paved surface.

The CVS warehouse property was most recently valued by Woonsocket assessors in 2022 as being worth $943,600, according to the city’s online property tax evaluation database.

CVS Health is based in Woonsocket, with its headquarters at 1 CVS Drive about a mile away from this warehouse. The health care company operates more than 9,000 retail pharmacies, with about 900,000 employees and $322.5 billion in annual revenue.

Marc Larocque is a PBN contributing writer. 

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