News: Front Section
Posted: March 22, 2019
Lavallee of CBRE reps First Bank and Trust Co. in $6.937m sale of 2700 Plainfield Pike to Equity Industrial Partners
Cranston, RI On behalf of First Bank and Trust Co. of Illinois, CBRE completed the sale of 2700 Plainfield Pike, to Equity Industrial Partners for $6.937 million. Equity Industrial Partners plans to update the 234,600 s/f industrial facility with a new roof, LED lighting, parking lot and new mechanical systems.
CBRE’s Gerald Lavallee, senior vice president, 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,” said 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 two miles from I-295–a central location that allows access throughout the state and New England. The building consists of 225,000 s/f 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 s/f truck maintenance facility with fueling area. Located on 72 acres, the building includes 30’ clear height, in-place racking system and expansion potential.
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