Klein and Grant of Marcus & Millichap sell 21,570 s/f industrial warehouse

Bristol, RI Marcus & Millichap negotiated the sale of a 21,570 s/f industrial warehouse.

Harrison 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.

Built in 1986 and fully renovated in 2023, the single-story property is located at 66 Tupelo St. in an 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 s/f 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.”

“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,” said Grant. “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.”

This marks the fourth R.I. transaction brokered by The Klein Group in recent years.