News: Front Section
Posted: April 19, 2024
The Local Group at Lila Delman Compass completes
sale of 1 Kenney Dr. for $8.8 million
Cranston, RI Lila Delman Compass has completed the sale of 1 Kenney Dr. for $8.8 million.
According to CoStar, a comprehensive platform for commercial real estate information, this transaction marks one of the highest office space sales in town since March of 2023.
Nicole Maine, Patrick Farrell, Benjamin Wood and Jonathan Kaufman of The Local Group represented the sellers and facilitated for the buyers in this transaction.
This industrial warehouse and office space, built in 1979, sits on 17 acres and offers over 145,000 s/f of space. For over 40 years, the building was used as international corporate offices, and where jewelry and crystals were designed, manufactured and distributed for retail sales as well as red carpet events and premieres.
“We’re witnessing an unprecedented blend of resilience and opportunity in Rhode Island’s commercial real estate market,” said Farrell. “From office spaces to retail establishments, industrial facilities to multifamily developments, the market is poised for dynamic growth and with innovative solutions and a steadfast commitment to excellence, we’re ready to navigate this evolving landscape and unlock the full potential of commercial real estate in our vibrant state.”
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