FOR INFORMATION
REGARDING LEASING,
please email us at
leasing@newbostonfund.com
or call 1.866.DIAL.NBF

RETURN TO LIST >

Shops at Quonset Point
North Kingstown, RI 02852

Acquired

5/1/2005

Location

The Shops at Quonset Point are located within the 3,174-acre master planned Quonset Business Park on Narragansett Bay in North Kingstown, RI. The park, a former naval base, is managed by our partner, Quonset Development Corporation (QDC), a quasi-public agency responsible for overseeing the re-use and development of the site.The State of Rhode Island has invested heavily in the transportation infrastructure of the park, including rail, water/sewer and construction of the Route 403 Connector, a 4-lane highway that connects Route 4 to our site.

Description

The Shops at Quonset Point represents a 400,000 square foot retail development at the gateway to the Quonset Business Park, providing much needed retail amenities to a region that has been under-served by retail space. New Boston was designated developer in May of 2005 and construction began in January 2008 with 256,000 SF (nearly 66%) of space already pre-leased to anchor tenants, Lowes and Kohls. The critical junior anchor, local grocery chain Dave?s Marketplace (23,771 SF), was secured and construction commenced on the 75,000 SF in-line retail center in the fall of 2008. Kohl`s officially opened its doors on October 1st, 2008 and Lowe`s held an official board cutting ceremony on January 15, 2009 to celebrate its opening.

Investment Rationale

High quality retail development that will serve a developing, under-served regional retail market
Opportunity to re-develop and re-use an under-utilized site that offers good access and visibility and where the state had made a substantial investment in new infrastructure
Opportunity to bring economic growth and new jobs to the redevelopment of a closed military facility in partnership with a quasi-public agency




Fund Ownership

Map

For more information regarding properties for sale, please email us at sales@newbostonfund.com or call 1.866.DIAL.NBF