Lila Delman Real Estate today announced the sale of 1-23 Pier Marketplace in Narragansett for $1,800,000.

Gregory Arakelian, Lila Delman’s Commercial Director and Residential Sales Associate represented the seller GP Pier Retail LLC.

According to data maintained by the Rhode Island Multiple Listing Service, this transaction marks the top commercial sale in Narragansett over the past 15 years.*

According to Lila Delman Real Estate, the Narragansett Pier Marketplace is the largest class A retail space in Narragansett Pier, steps from the best beach in New England, and minutes from the University of Rhode Island.

The center is on 4 acres and contains retail, restaurants, office services, and is surrounded by 141 luxury ocean-front condominiums. The sale included an undivided interest in 3 buildings totaling 16,731 square feet, and also included common interest in certain travel ways within the Pier Marketplace.  1-23 Pier Marketplace was the last remaining property in the Narragansett redevelopment district owned by the original developer, Gilbane Properties.

1 – 23 Pier Marketplace in Narragansett. According to data maintained by the Rhode Island Multiple Listing Service, this transaction marks the top commercial sale in Narragansett over the past 15 years.

According to Lila Delman Real Estate, Gregory Arakelian has participated in 2 of the top 3 commercial sales in Narragansett over the last ten years. Arakelian is also responsible for the highest commercial sale in Newport in the history of the current RI MLS system with the sale of the reimagined Wayfinder Hotel for $14,340,000.*

* According to Lila Delman Real Estate these representations are based on information provided by the RI Statewide MLS for the period of January 01, 2006 – March 22, 2021. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.

Ryan Belmore is the Owner and Publisher of What'sUpNewp. 
Belmore has been involved with What’sUpNewp since shortly after its launch in 2012, proudly leading it to be named Best Local News Blog in Rhode Island by Rhode Island Monthly readers in 2018, 2019, and 2020 and an honorable mention in the Common Good Awards in 2021.

Born and raised in Rhode Island, Belmore graduated from Coventry High School and the Community College of Rhode Island. In addition to living in Newport for 10 years, he has lived in Portsmouth, Coventry, Providence, Smithfield, Burrillville, and East Greenwich.

Belmore currently serves as Vice President of the Board Of Directors for Fort Adams Trust and on the Board of Directors for Potter League For Animals. He previously served on the Board of Lucy's Hearth and the Arts & Cultural Alliance for Newport County.

Belmore and his wife, Jen, currently live in Alexandria, Virginia, a move they made in 2021. Read more about that here - https://whatsupnewp.com/2021/09/letter-from-the-publisher-some-personal-news/

Belmore visits Newport every couple of weeks to support the 12+ paid contributors What'sUpNewp has on the ground across Rhode Island, a place he called home for 39 years.

Belmore is a member of Local Independent Online News (LION) Publishers, Society of Professional Journalists, and the North American Snowsports Journalists Association.

In 2020, Belmore was named Member of the Year by LION and won the Arts & Cultural Alliance of Newport County's Dominque Award.
Belmore can be contacted at ryan@whatsupnewp.com and 401-662-1653.