Nordblom Company and Cornish Associates Purchase The Providence Journal Building
Nordblom Company and Cornish Associates are pleased to announce their joint purchase of the historic Providence Journal Building located at 75 Fountain Street in the heart of downtown Providence, Rhode Island. This purchase also includes two adjoining parking lots at 78 Fountain Street and 1 Eddy Street. The Seller was A.H. Belo, who had owned these three properties and the newspaper until its sale in late 2014. The CBRE team, lead by Senior Vice President/Partner Alden Anderson, oversaw the transaction.
The building affords exceptional space in a terrific city location. Directly across the street from the Convention Center and Omni Providence Hotel, it also overlooks Kennedy Plaza, generally considered the heart of the city and the state’s transportation hub. Other notable neighbors include the Dunkin’ Donuts Center and the 1 million square foot Providence Place Mall. The location also benefits from proximity to the flourishing retail stores and restaurants throughout downcity.
Cornish and Nordblom plan to commence immediately with improvements to the building. Their plan includes modernizing and revitalizing this iconic property while offering leases to a broad cross section of tenants ranging from full-floor users to 2-5,000 square foot occupants. With the building’s large windows and tall, bright spaces, it will provide exceptional new offices at very competitive rents in the marketplace. This is the first time, since its construction, that significant space has been available in this property and it offers an extraordinary opportunity for a wide range of prospective tenants. When renovations are complete at the close of 2015, the building will feature 160,000 square feet of renovated office space as well as over 10,000 square feet of restaurant/retail space facing the newly re-designed Emmet Square.