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.
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.
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.
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 …
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.
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.
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 …
Warwick, R.I. — Capital Group Properties has purchased Warwick Center, a 160,000-square-foot retail center in Warwick, about 12 miles from Providence. The property sits on 15 acres at the intersection of Interstates 95 and 295 and houses tenants such as Barnes & Noble, DSW Designer Shoe Warehouse, Edge Fitness, Ulta Beauty, Carrabba’s Italian Restaurant and Walpole Outdoors. Capital Group Properties purchased the property from Nuveen Real Estate for $12.3 million and plans to upgrade the landscaping, parking areas, signage, lighting and building façades.
Warwick Center, R.I. — Southborough, Massachusetts-based Capital Group Properties has purchased Warwick Center, a 160,000-square-foot shopping center in Warwick. Nuveen sold the property for $12.4 million. Located on 15 acres at 1350 Bald Hill Road, Warwick Center is situated at the intersection of Interstates 95 and 295. Warwick Center features tenants including Barnes & Noble, Designer Shoe Warehouse, Edge Fitness, Ulta Beauty, Carrabba’s Italian Restaurant and Walpole Outdoors. Capital Group Properties plans to make enhancements to the center’s landscaping, parking lot, pylon sign, lighting and building façades.
Woonsocket, R.I. — CVS Health Corp. (NYSE: CVS) plans to close about 900 stores over the next three years, or about 300 stores a year, starting in the spring of 2022. The pharmacy retailer says the decision to close its stores was in order to focus more on its digital strategy. The store closures equal about 9 percent of the approximately 10,000 locations that the retailer currently operates. CVS says it will help those who lose their jobs as a result of the store closures to find a different role …
