In an acquisition that demonstrates continued growth and diversity of one of the largest privately owned real estate companies in the state, Paolino Properties, led by Joseph R. Paolino, Jr., purchased a 123,000 sq.ft. East Providence building that houses research and development, administrative and data offices for Hasbro Industries.
The building at 200 Narragansett Park Drive, in East Providence, Rhode Island was acquired from Conhas I & II, LLC for a purchase price of $10.5 million by Paolino Properties. The purchase provides continued growth of Paolino Properties’ portfolio through strategic alignment with Class ‘A’ tenants, all of whom are strong economic producers within the state.
Hasbro Industries will continue to occupy the building, which houses over 400 employees.
