Press Releases
Marcus & Millichap Brokers Industrial Property Sale in Providence Metro
June 19, 2025
BRISTOL, R.I., June 19, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of an 21,570-square-foot industrial warehouse in Bristol, Rhode Island.
“This sale is a testament to continued strong demand for Rhode Island industrial investments from both local and national groups,” said Harrison Klein, managing director of investments. “A lack of supply for smaller buildings continues to push record sale prices.”
Klein and Michael Grant, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller, a private investor and procured the buyer, Playground Properties, a Colorado-based investor. This marks the fourth Rhode Island transaction successfully brokered by The Klein Group in recent years.
“By tapping into our network of client relationships, we were able to identify an out-of-state buyer who paid top dollar for this asset,” added Grant, associate. “Our team’s deep understanding of the Rhode Island industrial market continues to drive results, and we’re excited to help new investors enter this growing region.”
Built in 1986 and fully renovated in 2023, the single-story property is located at 66 Tupelo St. in Bristol’s established industrial park. Recent upgrades include a new roof, updated electrical and lighting, new interior wall paneling, full HVAC, and a new wet sprinkler system. The building spans 18,760 square feet of warehouse space, with two overhead doors, a loading dock and 62 surface parking spaces. The facility is 100% leased to a local manufacturer on a long-term lease.
“This sale is a testament to continued strong demand for Rhode Island industrial investments from both local and national groups,” said Harrison Klein, managing director of investments. “A lack of supply for smaller buildings continues to push record sale prices.”
Klein and Michael Grant, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller, a private investor and procured the buyer, Playground Properties, a Colorado-based investor. This marks the fourth Rhode Island transaction successfully brokered by The Klein Group in recent years.
“By tapping into our network of client relationships, we were able to identify an out-of-state buyer who paid top dollar for this asset,” added Grant, associate. “Our team’s deep understanding of the Rhode Island industrial market continues to drive results, and we’re excited to help new investors enter this growing region.”
Built in 1986 and fully renovated in 2023, the single-story property is located at 66 Tupelo St. in Bristol’s established industrial park. Recent upgrades include a new roof, updated electrical and lighting, new interior wall paneling, full HVAC, and a new wet sprinkler system. The building spans 18,760 square feet of warehouse space, with two overhead doors, a loading dock and 62 surface parking spaces. The facility is 100% leased to a local manufacturer on a long-term lease.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
