NEWPORT, RI – December 23, 2020 – Lila Delman Real Estate’s continues to make waves in Newport County’s commercial real estate market with the sale of 196 – 200 Thames Street in Newport for $1,7000,000. Gregory Arakelian, Lila Delman’s Commercial Director, represented the seller and facilitated for the buyer.
According to data maintained by the Rhode Island Statewide MLS, this transaction marks one of the top five commercial sales in Newport County, year-to-date. Lila Delman has participated in four of these five top sales.
“This retail property was brought under contract in under a month and closed just five weeks after hitting the market during the current climate,” commented Gregory Arakelian. “As a trusted advisor in the art of connecting buyers and sellers with fine property, this is a testament to the importance of listing a commercial property with a specialist capable of maximizing exposure to potential clients.”
Gregory Arakelian is also credited with representing the buyer of Newport’s Mainstay Hotel, now known as The Wayfinder Hotel, which was Newport’s record breaking sale for $14,340,000 in 2019.
196 – 200 Thames Street is a six-unit commercial building in the heart of Downtown Newport, flanked by Starbucks and Brick Alley Marketplace. With four retail units and two residential units, the building is sited directed across from Newport Harbor, affording lovely views and an ideal positioning.
*This representation is based on information from the Rhode Island State Wide MLS for the period of January 1, 2019 – December 23, 2020. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.