Scanio of Cambridge Capital Advisors sells 84,696 s/f National Grid Building for $2.7 million

Michael Scanio, managing partner of Cambridge Capital Advisors, has completed the $2.7 million sale of the National Grid Building located at 100 Weybosset St. to Providence Capital, LLC. The property, comprised of two office/retail buildings and one attached three-story parking garage, totals 84,696 s/f across the three buildings. The property spans almost an entire city block in the Financial District and is located across from Johnson & Wales campus. As a result of its redevelopment, this historic property will soon be available for lease for the first time in over 20 years. Providence Capital, LLC, a New York City based company, plans to invest more than $5 million in renovating the property. Anticipated improvements include an expanded lobby, an enclosed glass roof deck lounge and parking garage facility. Hayes & Sherry Real Estate Services and Jones Lang LaSalle represented the seller, National Grid.