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Jan. 11, 2013

Inland Diversified Pays $29.8M for Hasbro Building in Downtown Providence

By Adriana Pop, Associate Editor

In a $29.8 million deal, Chicago-based Inland Diversified Real Estate Trust Inc. has acquired the Hasbro Building in downtown Providence from Boston-based Berkeley Investments Inc., the Providence Journal reports. Alden Anderson and Bill Moylan of CBRE-New England arranged the transaction.

Located at 15 LaSalle Square, the 135,000-square-foot property is fully occupied by Pawtucket-based toymaker Hasbro Inc., which employs approximately 350 workers at the facility. About a year ago, Hasbro signed a 12-year lease for the space. Joseph Fallon and Michael Dalton of Cassidy Turley FHO represented the tenant in that transaction, while Berkeley was represented by Alden Anderson of CB Richard Ellis – New England.

In residential transaction news, Gustave White Sotheby’s International Realty said that two seaside properties in Westport and Jamestown commanded a combined $16.2 million.

According to the Providence Business News, the 50-acre Truesdale Farm in Westport that stretches 10 acres in Little Compton sold for $9 million on Dec. 28. The property features 1,000 feet of beachfront, a barn and a four-bedroom 1939 farmhouse. It was the highest recorded sale in Westport and Little Compton in 2012. Gustave White broker/owner Pal Leys and broker Chandler Lyell marketed the property, while Patti Salem from Barrett and Company in Lincoln, Mass. represented the buyer.

In Jamestown’s number-one residential sale for 2012, the 6.2-acre Cedar Point estate was acquired for $7.2 million on Dec. 27. Leys marketed the estate, while Gustave White agents Michelle Kirby and Kate Greenman represented the buyer.

Photo credit: www.berkeleyinvestments.com

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