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WS Acquires 530K-SF RI Retail Center
WS Development acquired Garden City Center, a 530,000-square-foot outdoor shopping center in Cranston, RI. Published reports indicate WS paid $181 million for the property, which California-based Gatewide Woodside acquired for $73 million in 1998.
First opened in 1948, Garden City Center today hosts a tenant mix that includes Whole Foods, lululemon, L.L. Bean, Crate & Barrel, Pottery Barn, Sephora and Williams Sonoma.
“Garden City Center is a beloved and powerful hub with a long history of success,” said Jeremy Sclar, president of WS Development. “We believe that our experience creating retail gravity in similar markets will allow us to take something great and make it even better. We are looking forward to working with the existing tenants and community toward this goal.”
The sale was arranged by NKF. Based in Chestnut Hill, MA, WS owns properties in the Boston region and around the U.S.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
