East Greenwich Square _Property for Sale
East Greenwich Square _Property for Sale
1000 Division Rd, East Greenwich, RI, 02818-2078, US

East Greenwich Square

Asset description

JLL Capital Markets has been retained as exclusive advisor for the sale of East Greenwich Square, a +/- 158,709 SF, 97.0% leased grocery-anchored shopping center in East Greenwich, Rhode Island. Anchored by Dave’s Fresh Marketplace, a dominant local Rhode Island grocer, East Greenwich Square is located in the wealthiest town in RI with average household incomes of $212,000. Dave’s has been operating at the Property for over 20 years and is the #1 location in the chain with over 1.3 million visits (Per Placer.AI). Other prominent tenants include the specialty wine & liquor store Savory Grape, Healthtrax, Panera Bread and new tenants Crumbl Cookies and Playa Bowls. East Greenwich Square also features four highly visible pad sites anchored by McDonald’s (corporate location), Chase Bank, BankNewport and Tavern in the Square.


Located on the southern portion of Route 2 (20,600 VPD) and Division Street (29,200 VPD), just 0.5 miles away from Interstate 95 (160,000 VPD) and Route 4 (80,500 VPD), the Property is well-located to serve affluent East Greenwich shoppers and those living and working in the surrounding communities. The Property has achieved significant recent leasing momentum with 16,761 SF of new leases across six suites since 2022. All major tenants have term to 2029 or beyond, with current WALT equating to 6.2 years across the Property. East Greenwich Square offers investors a generational, best-in-class and locally beloved supermarket anchored shopping center with a strong credit profile, located within the best market in Rhode Island.

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Attributes

Building area gross
158,709 sf
Occupancy
97%
Land area gross
20.59 acres
WAULT
6.2 years

Media

Investment highlights

  • Dominant Dave's Fresh Marketplace anchor and headquarters location for over 20 years


  • 158,709 SF, 97% leased shopping center with over 2.6M annual shopping center visits


  • Anchored by the #1 Dave's Fresh Marketplace in RI with over 1.3M annual visits


  • 63%+ of gross income from credit tenants


  • Future upside potential through lease up, pad spin outs or inline mark to market opportunities


  • Strong recent leasing momentum across six suites for over 16,700 SF


  • Unmatched access and visibility from Rt. 2, Rt. 4, Rt. 401 and I-95


  • East Greenwich is the wealthiest town in RI with AHHI exceeding $212,000 and over 113,000+ people live within five miles
East Greenwich Square  4_Property for Sale
East Greenwich Square  4_Property for Sale

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East Greenwich Square (0 Properties)

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Last updated
May 16, 2024