{"id":1004087656,"date":"2013-11-29T15:26:07","date_gmt":"2013-11-29T23:26:07","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=221881"},"modified":"2025-02-19T02:54:28","modified_gmt":"2025-02-19T10:54:28","slug":"foundry-associates-buys-historic-office-complex-for-19m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/foundry-associates-buys-historic-office-complex-for-19m\/","title":{"rendered":"Foundry Associates Buys Historic Office Complex for $19M"},"content":{"rendered":"<p><!--[if gte mso 9]><xml><br \/>\n<o:OfficeDocumentSettings><br \/>\n<o:AllowPNG\/><br \/>\n<\/o:OfficeDocumentSettings><br \/>\n<\/xml><![endif]--><\/p>\n<p><!--[if gte mso 9]><xml><br \/>\n<w:WordDocument><br \/>\n<w:View>Normal<\/w:View><br \/>\n<w:Zoom>0<\/w:Zoom><br \/>\n<w:TrackMoves\/><br \/>\n<w:TrackFormatting\/><br \/>\n<w:HyphenationZone>21<\/w:HyphenationZone><br \/>\n<w:PunctuationKerning\/><br \/>\n<w:ValidateAgainstSchemas\/><br 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class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/11\/American-Locomotive-Works-in-Providence.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-221885\" title=\"American Locomotive Works in Providence\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/11\/American-Locomotive-Works-in-Providence.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In a $19 million deal, Foundry Associates, L.P. has purchased the five-building American Locomotive Works office park along the Woonasquatucket River in downtown Providence. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">According to the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/nerej.com\/\" target=\"_blank\" rel=\"nofollow noopener\">New England Real Estate Journal<\/a><\/em>, the Washington Trust Co. and Rockland Savings Bank provided funding for the transaction. The law firm of Hinckley, Allen and Snyder, L.L.P. represented the buyer. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Located <\/span><span lang=\"EN-US\">on 11.8 acres <\/span><span lang=\"EN-US\">in the city\u2019s Promenade District, the 200,000-square-foot commercial property dates back to 1901, when it was built as a locomotive factory. Between 2006 and 2009, the complex was redeveloped into offices. <span style=\"mso-spacerun: yes;\">\u00a0<\/span><span style=\"mso-spacerun: yes;\">\u00a0<\/span><span style=\"mso-spacerun: yes;\">\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The LEED-certified buildings are currently 70 percent leased to tenants that include United Natural Foods, Inc., the nation\u2019s largest wholesale distributor of natural foods; Pannone, Lopes, Devereaux and West, L.L.C.; the Rhode Island Economic Development Corp.; Fuss &amp; O&#8217;Neill; New Horizons Learning Centers; The American Restaurant; The Guatemalan Consulate and High Output, Inc.<\/span><\/p>\n<p>Onsite parking, a kayak launch, a river walk, public green spaces and a full-service restaurant are among the property\u2019s amenities.<\/p>\n<p>Based in Providence, Foundry Associates has also redeveloped the district\u2019s 1 million-square-foot historic Brown &amp; Sharpe Manufacturing Co. into office and residential space.<\/p>\n<p><em><span lang=\"EN-US\">Photo: www.cbre.us <\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a $19.05 million deal, Foundry Associates, L.P. has purchased the five-building American Locomotive Works (ALCO) office park along the Woonasquatucket River in downtown Providence.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004087656","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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