Fair of Hayes & Sherry finalizes $3.3 million sale of <br>6.5-acre site to Skydra Development

Warwick, RI A major development is one step closer to getting shovels into the ground. At the end of October, Hayes & Sherry, a Cushman & Wakefield alliance member, closed the $3.3 million sale of a 6.5-acre property at 2119 Post Rd.

The land, a former LAZ Parking lot, was purchased by Skydra Development and sold by the R.I. Airport Corp., which had acquired the lot in 2016. Matt Fair, partner at Hayes & Sherry, represented the seller.

Skydra Development is planning the construction of two buildings that will feature 210 residential apartment units. The company has received final approval from the city planning board to move forward and is hopeful construction can begin in early 2024. The project supports the vision of a City Centre Warwick anchored with live-work, mixed-use, and transit-oriented development.

“It’s great to see this parcel trade and get one step closer to going up,” said Fair. “We had been marketing the property for several years and had it under contract previously with other developers. The city of Warwick and Skydra did a great job working together to secure the necessary incentives and permits to allow this pivotal project to happen.”