Fulcrum Real Estate Partners, LLC, a Massachusetts-based real estate investment firm, is happy to announce the sale of 60 and 70 Centre of New England Boulevard in Coventry, RI. The 34,860 square foot 100% leased warehouse-distribution building and abutting 3.78-acre development site were sold to 60 & 70 Centre of New England Coventry RI, LLC, a Connecticut-based real estate investment entity, for $2,550,000.
According to Fulcrum principals, Rick Putprush and Rob Kirschner, the sale of the properties, owned under the single purpose entity 70 Centre of New England, LLC, marked the successful completion of the business plan for the investment that had been established when they purchased the properties for $1,600,000 in 2015.
The sale of the property in mid-December 2020, was an off-market transaction completed directly between the seller and the buyer, however, Fulcrum would like to recognize Francis Mastroianni and Sarah Rhatigan of Trilogy Law, legal counsel for the seller, as well as Ryan Demadis of NorthMarq, for their significant contributions to the success of this transaction.
Fulcrum Real Estate Partners, LLC is a Massachusetts-based real estate investment and consulting firm specializing in syndicated investments in industrial, warehouse-distribution and office properties in the $2 – $10 million price range throughout New England. Please contact Rick Putprush at rick@fulcrumrealestatepartners.com or Rob Kirschner at rob@fulcrumrealestatepartners.com, or visit www.fulcrumrealestatepartners.com for more information.
