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Rhode Island

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DevelopmentNewsRestaurantsRhode Island

Marsella Development to Open 18,000-Square-Foot Food Hall in Providence, Rhode Island

by Hayden Spiess

Providence, R.I. — Marsella Development Corp. is underway on Track 15, an 18,000-square-foot food hall situated within the historic Union Station building in Providence. Scheduled to open in February 2025, the Track 15 will feature the food vendors including Little Chaska, Tolia, Dune Brothers, Dolores, There There, Giusto PVD and Mother Pizzeria PVD. In addition to the vendor spaces, the $25 million development will feature indoor and outdoor seating for roughly 600, an entertainment venue and a 10,000-square-foot plaza. 

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Honey-Baked-Ham
Company newsConnecticutGeorgiaMassachusettsNewsRhode Island

Honey Baked Ham Co. Signs Four-Unit Franchise Deal in Massachusetts, Rhode Island

by Hayden Spiess

Alpharetta, Ga. — Metro Atlanta-based Honey Baked Ham Co. has signed a four-unit franchise deal in the Northeast. Locations will include Worcester, Massachusetts, as well as elsewhere in the state and an additional location in Rhode Island. Tom McGwire, great-grandson of the brand’s founder, will own and operate the units, along with his father Tad McGwire and brothers Charlie and Brett McGwire. This will bring Tom McGwire’s Honey Baked Ham portfolio to eight stores, following a previous deal to develop four stores across Connecticut, Rhode Island and Massachusetts. 

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Stop&Shop
Company newsConnecticutMassachusettsNew JerseyNew YorkNewsRhode Island

Stop & Shop to Close 32 Stores in the Northeast

by Hayden Spiess

Quincy, Mass. — Stop & Shop, a grocery store chain based in the Boston suburb of Quincy, has announced plans to close 32 locations by the end of this year.  Situated throughout the Northeast, the stores — described in a press release as “underperforming” — are located in Connecticut, Massachusetts, New Jersey, New York and Rhode Island. According to the grocer, the affected stores will shutter on or before Nov. 2. Associates at the locations will be offered other employment within the company.  “As we announced in May, Stop & Shop …

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Level99
EntertainmentLeasingNewsRhode Island

Level99 Opens 40,000-Square-Foot Entertainment Venue in Rhode Island

by Hayden Spiess

Providence, R.I. — Entertainment concept Level99 has opened a new, 40,000-square-foot venue at Providence Place in Providence. Comprising 43 rooms, the facility offers interactive challenges as well as a restaurant, Night Shift Brewing Kitchen & Tap. Investment vehicle Act III Holdings, led by Panera Bread founder Ron Shaich, backs Level99. Brookfield Properties is the landlord at Providence Place. 

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Grocery-anchoredInvestment salesNewsRhode Island

ShopOne, Pantheon Acquire 112,497-Square-Foot Retail Center in Rhode Island

by Hayden Spiess

North Providence, R.I. — A joint venture partnership between ShopOne Centers REIT, Pantheon and an undisclosed global institutional investor has acquired North Providence Marketplace, a 112,497-square-foot retail center located in North Providence. Shaw’s Supermarket anchors the property, which was 88 percent occupied at the time of sale. Other tenants include Dollar Tree, Rainbow, H&R Block and Sally Beauty Supply. Shaw’s features an in-store Starbucks Coffee. 

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Grocery-anchoredInvestment salesMassachusettsNewsRhode Island

Atlantic Capital Partners Negotiates $70 Million Sale of Retail Portfolio in Massachusetts, Rhode Island

by Hayden Spiess

Boston — Atlantic Capital Partners, a division of Boston-based Atlantic Realty, has negotiated the $70 million sale of a portfolio of four grocery-anchored retail properties in Massachusetts and Rhode Island. The properties, all of which are master-leased to regional operator Stop & Shop, total 272,542 square feet and are located in the Massachusetts communities of Framingham, Malden and Swampscott, with the fourth in Bristol, Rhode Island. Justin Smith, Chris Peterson and Sam Koonce of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

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Oak-St-Health
Company newsIllinoisNewsRhode Island

CVS Agrees to Acquire Oak Street Health in $10.6 Billion Deal

by Hayden Spiess

Woonsocket, R.I. and Chicago — CVS Health (NYSE: CVS) has agreed to acquire Oak Street Health (NYSE: OSH) in an all-cash transaction at $39 per share, representing a total purchase price of roughly $10.6 billion. The price represents a premium of approximately 11.9 percent over Oak Street’s opening price per share this morning. Chicago-based Oak Street Health is a network of primary care centers for adults on Medicare. The company employs approximately 600 primary care providers and maintains 169 medical centers across 21 states. By 2026, Oak Street Health plans …

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DevelopmentNewsRhode Island

Topgolf to Open 68,000-Square-Foot Entertainment Venue in Cranston, Rhode Island

by Hayden Spiess

Cranston, R.I. — Topgolf will open a 68,000-square-foot venue at 100 Sockanosset Cross Road in Cranston, approximately 5 miles outside of Providence. Carpionato Group owns the site and is leading development of the multi-level facility, which will be the first in Rhode Island for the Dallas-based entertainment concept. Construction is underway and expected to be complete before the end of 2023.

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Investment salesNewsRhode Island

Marcus & Millichap Arranges Sale of 42,200-Square-Foot Retail Property in Westerly, Rhode Island

by Katie Sloan

Westerly, R.I. — Marcus & Millichap has arranged the sale of Spindrift Village, a 42,200-square-foot retail property located in the coastal Rhode Island city of Westerly. The sales price was $3.4 million. The property consists of two adjacent parcels totaling four acres that house a multi-tenant strip center and a pad site. Adam Cohen and Brett Kilar of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.

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Investment salesMassachusettsNewsRhode Island

Wilder, TA Realty Acquire Shopping Center Portfolio in Massachusetts, Rhode Island for $390 Million

by Katie Sloan

Boston — A partnership between Wilder Cos. and TA Realty has acquired a portfolio of nine grocery-anchored shopping centers totaling 729,437 square feet for $390 million. Eight of the properties are located in Massachusetts, and one is located in Rhode Island. At the time of sale, the portfolio was 95 percent leased, with grocers such as Whole Foods Market, Shaw’s, Star Market and Dave’s Fresh Marketplace serving as anchor tenants. Robert Griffin, Geoffrey Millerd, Jonathan Martin, Paul Penman and Mathew Adler of Newmark represented the undisclosed seller and procured the buyer …

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