CBRE Brokers Sale of Boston-Area Office Property

Located in East Providence, the 50,664-square-foot asset will soon undergo renovations. Following upgrades, the new owner intends to occupy the 37,500 square feet currently available at the property.
20 Risho Avenue
20 Risho Avenue

Fox Paw Properties has acquired a roughly 50,664-square-foot, Class B office property in East Providence, R.I., for $3.4 million. CBRE/New England facilitated the deal for the seller, Maurice Mizrahi and Sophie Mizrahi Trust.

The building at 20 Risho Ave. is located approximately 6 miles from downtown Providence, while Boston is 55 miles away. The single-story property, situated on a roughly 8-acre parcel at the intersection of Interstate 195 and routes 114 and 6, is part of Westminster Office Park.

Currently, two GSA tenants lease part of the building. The new owner intends to upgrade 20 Risho Avenue and occupy the remaining 37,500 square feet. The property includes 283 parking spaces.

CBRE/New England Vice President John Cregan represented the seller and also procured the buyer. In April, another CBRE/New England team secured acquisition financing for the purchase of two facilities in Merrimack, N.H.

Image courtesy of CBRE/New England