News & Transactions

August, 18 2020

Lucivero and Flachbart of Hayes & Sherry facilitate $8.8 million sale

Warwick, R.I. – August 18, 2020 – The 47,000 SF, 3-story Office Building located at 1 Coastway Blvd in Warwick, RI was recently sold for $8.8 million. The Providence Community Health Centers purchased the building to become its new long-term headquarters from HaborOne Bank.  The building was originally developed in 2014 as a build-to-suit for the headquarters of Coastway Community Bank, which HarborOne Bank acquired in 2018. Hayes & Sherry, a Cushman & Wakefield Alliance Member, brokered the transaction with Dave Lucivero representing the Seller and Pete Hayes and Steve Flachbart representing the buyer.

The Providence Community Health Centers will have a phased-in occupancy of the second and third floors of the property, while the first floor will remain 100% leased to 3rd party tenants. The beautifully landscaped property provides a parklike setting for employees with plentiful parking in a thriving business district.  Major highways I-95 and I-295 are easily accessible via the Airport Connector.