Westerly, RI – Marcus & Millichap announced the sale of Spindrift Village, a 42,200-square foot retail property located in Westerly, RI, according to Thomas Shihadeh, regional manager of the firm’s Boston and Rhode Island office. The asset sold for $3,400,000.
Adam Cohen and Brett Kilar, investment specialists in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The Cohen Group also secured the buyer, a private investor.
Agent comments, “Our client built this property and managed it for decades. It was important to him that we found a buyer who would honor the legacy of what he had built. We brought multiple offers to the table, and in the end selected a local buyer with a ton of experience managing multi-tenant retail properties”
Spindrift Village is located at 265 Post Rd in Westerly, RI. The property consists of two adjacent parcels, including a 42,200 SF 20-tenant multi-tenant retail strip, along with a restaurant PAD site that sits on more than 4 acres of land.