Lila Delman Compass has announced that the sale of an industrial warehouse and office space in Cranston has sold for $8.8 million, the highest office space sale in the city since March 2023. The commercial space was located at 1 Kenney Drive.
The 1979 building sits on a total of 17.01 acres and offers more than 145,000 square feet of space. For over 40 years, the building has been occupied by international corporations where jewelry and crystals were designed, manufactured, and distributed for retail sales. The building was also used for red carpet events and premieres.
Nicole Maine, Patrick Farrell, Benjamin Wood and Jonathan Kaufman of The Local Group represented the Sellers and facilitated for the Buyers in this transaction.
“We’re witnessing an unprecedented blend of resilience and opportunity in Rhode Island’s commercial real estate market,” commented Patrick Farrell. “From office spaces to retail establishments, industrial facilities to multifamily developments, the market is poised for dynamic growth and with innovative solutions and a steadfast commitment to excellence, we’re ready to navigate this evolving landscape and unlock the full potential of commercial real estate in our vibrant state.”
Generative artificial intelligence (AI) assisted a What’sUpNewp journalist with the reporting included in this story.
