CRANSTON, RI – APRIL 4, 2024 – Lila Delman Compass announces the sale of 1 Kenney Drive in Cranston for $8,800,000. According to CoStar, a comprehensive platform for commercial real estate information, this transaction marks the highest office space sale in Cranston 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 17.01 acres and offers over 145,000 square feet 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,” commented Patrick 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.”
The Local Group is an award-winning team serving all of Rhode Island. This group of 5 experienced agents has ranked as the #1 small team in Washington County in 2020, 2021, 2022 & 2023, and is currently ranked #1 sales team statewide, YTD.** Their success in Rhode Island real estate has been nationally recognized, earning them rankings by the Wall Street Journal and RealTrends.***
ABOUT LILA DELMAN COMPASS:
In 2021, Rhode Island’s first name in luxury real estate, Lila Delman, joined Compass, the Nation’s #1 real estate brokerage.**** Today, Lila’s Legacy lives on with great strength, backed by the power of Compass. In Rhode Island, Compass owns and operates 12 offices, including Lila Delman Compass and Compass.
Lila Delman Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. *Commercial sale ranking and closing price information is based on reports obtained from CoStar for the period of March 14, 2023- March 29,2024. **Sale rankings and closing price information is based on information from RI Statewide MLS for the period of January 1,, 2020 – April 4, 2024. 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.***America’s Top 100 Real Estate Agents representation based on data from US Closed Sales Volume, RealTrends 500 & America’s Top 100 for the period of 1.1.21-12.31.22.****As of 2023, closed sales volume. Source: RealTrends 3/9/23.