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Mon, Aug 19
A Compendium of Property & Capital News
Aug 19
A Compendium of Property & Capital News

Equity Industrial Acquires Vacant 234,600-SF Cranston Facility Via CBRE

March 13, 2019
2700 Plainfield Pike, Cranston RI

BOSTON–On behalf of First Bank and Trust Company of Illinois, CBRE closed the sale of 2700 Plainfield Pike in Cranston, Rhode Island, to Equity Industrial Partners for $6,937,000. Equity Industrial plans to update the 234,600 SF industrial facility with a new roof, LED lighting, parking lot and new mechanical system.

CBRE’s Gerald Lavallee, senior vice president, exclusively represented the seller and procured the buyer.

“We are thrilled for both the seller and buyer to move this building forward after 10 years of inactivity,” stated CBRE’s Lavallee. “We are excited to work with Equity Industrial Partners on the leasing and bring this fantastic updated industrial warehouse to market.”

2700 Plainfield Pike is located less than two miles from Interstate 295—a central location that allows convenient access throughout Rhode Island and New England. The building consists of 225,000 square feet of food-grade distribution space with the ability to provide varying temperature-controlled storage from -10 degrees to 36 degrees. The property also includes a 9,600-square-foot truck maintenance facility with fueling area. Located on 72 acres, the building includes 30’ clear height, in-place racking system and expansion potential.

Gerald Lavalle