RHODE ISLAND INDUSTRIAL
Outlook for industrial real estate market in R.I. for rest of 2025 and start of 2026 is positive George Paskalis million fit-out for manufacturing. The ribbon cutting for this facility was in August 2025.
Julie Freshman MG Commercial Real Estate
rest of 2025 and beginning of 2026 is positive. Demand for industrial space is expected to remain steady, and vacancy rates are expected to remain low, despite some softening in the leasing market. The low supply and steady demand have continued to keep the sale market strong for empty buildings as well as fully-leased industrial investment opportunities. Julie Freshman, SIOR, is vice president of MG Commercial Real Estate and George Paskalis, SIOR, is partner MG Commercial Real Estate, Providence, R.I.
the Quonset Development Corp. (QDC) and has continued to see new construction and expansions in 2025. For example, Anduril Industries, a defense technology company that develops advanced, AI-powered autonomous systems and hardware for military and security applications, has opened a 150,000 s/f facility in Quonset to support the full-rate production of two of their autonomous underwater vehicle (AUV) models. The project involved leasing an existing build- ing (Flex Technology Park Building # 11 which broke ground in 2024 as a shell), and completing an $8.3
MG Commercial Real Estate
Industrial lease rates in Rhode Island have increased over the past few years and are now in the $6-$7 per s/f range, NNN for bulk ware- house space, in the $7-$8 per s/f range for general purpose industrial space, and around $10 per s/f for flex space. Sale prices for 20,000 s/f to 50,000 s/f have continued to range from $65 to as high as $100 per s/f or more depending on quality and location. The outlook for the industrial real estate market in Rhode Island for the
As we head into the 4 th quarter of 2025, the Rhode Island industrial market remains healthy with steady demand. Vacancy rates remain below the 7% national average and range between 4% and 5%. Over the past year, vacancies have risen only 0.1% (source: CoStar). Much of the demand for indus- trial space continues to come from the logistics/ distribution and man- ufacturing sectors. There is more availability on the leasing side of the industrial market, while inventory on the sale side is still limited. Recent lease transactions include 20,194 s/f of industrial space at 24 Maple St. in Warwick that was leased to a third-party logistics company. Notable spaces available for lease include 322,281 s/f of dis- tribution space at 1159-1193 Broad St. in Central Falls; and 47,981 s/f of high bay warehouse space available for lease at 2-4 Energy Way in West Warwick. On the sale side, 100 Founders Dr. in Woonsocket, totaling 35,000 s/f, sold to a self-storage developer for $3,163,991 in August 2025; a 144,000 s/f industrial building, in the North Central Industrial Park in Lincoln, is under contract; a 160,000 s/f industrial building is under contract with an investor and a 23,868 s/f industrial building locat- ed on Niantic Ave. in Providence is also under contract and set to close in November. While there has not been much new speculative construction of industrial buildings in the Rhode Island market historically, several projects have come to completion with some absorption already real- ized. Additionally, there are some larger tracts available for build- to-suit opportunities or purchase, including 65 buildable acres in North Smithfield for acquisition with immediate access to Rte. 146. Another significant proposed de - velopment project in Rhode Island is the Comstock Industrial Center, located immediately off of I-295 in western Cranston, which is a 17.3- acre site and is fully approved for up to 270,000 s/f of high bay ware- house or manufacturing uses. This is a rare opportunity to purchase a fully approved site, while the lease rate for this build-to-suit leasing opportunity will be determined
based on tenant needs. Projects like these are candidates for the Rhode Island Ready program, which is funding utilized by developers for infrastructure improvements to the sites. The Quonset Business Park, ranked among the top 10 best in- dustrial parks in the United States, and one of the top 10 auto importers in North America, is managed by
1159 - 1193 BROAD STREET
Central Falls, RI 02863
WAREHOUSE/DISTRIBUTION SPACE FOR LEASE
PROPERTY SUMMARY
WAREHOUSE/DISTRIBUTION SPACE FOR LEASE 1159-1193 BROAD ST. Central Falls, RI
PROPERTY DESCRIPTION 1159 - 1193 Broad Street contains a newly renovated 322,281 +/- SF industrial building situated on a total of 9.48 acres of land. A new TPO roof was installed in 2023, significant renovations were completed in 2022 and 2023, ceiling heights are up to 34' clear, there is rail access on site and there are multiple dock locations with the ability to add additional docks to suit.
LOCATION DESCRIPTION 1159 - 1193 Broad Street is located within Central Falls, Rhode Island, off of Broad Street (Route 114), with convenient access to I-95 and points north and south. With convenient access to Providence (7 miles) and Boston (45 miles), the property location provides a strategic advantage for logistics and distribution operations. PROPERTY HIGHLIGHTS 1 4 Loading Dock Doors
OFFERING SUMMARY Lease Rate:
$6.00 - 7.00 SF/yr (NNN)
1 Drive-In/Grade-Level Door Up to 34' Clear Ceiling Heights New TPA Roof 2023 ESFR Sprinklers New LED Lights Heavy Power (RI Energy) Rail Service Available Onsite Ample On-Site Parking
Available SF:
31,781 - 322,281 SF
Lot Size:
9.48 Acres
Building Size:
322,281 SF M-2 (Heavy Industrial)
Zoning :
GEORGE PASKALIS, SIOR
JULIE FRESHMAN, SIOR Vice President 401.751.3200 x3309 julie@mgcommercial.com
365 Eddy Street, Penthouse Suite Providence, Rhode Island 02903 mgcommercial.com
Partner
401.751.3200 x3303
george@mgcommercial.com
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. All references to age, sq. footage, income, and expenses are approximate. Buyers should conduct their own independent investigations and rely only on those results. --------------------------------- GEORGE PASKALIS, SIOR JULIE FRESHMAN, SIOR
Partner
Vice President
365 Eddy Street, Penthouse Suite
401.751.3200 x3303
401.751.3200 x3309
Providence, RI 02903 mgcommercial.com
george@mgcommercial.com julie@mgcommercial.com
2025 FALL PREVIEW
October 31, 2025 41
Proof Approved New Proof NE NY REAL ESTATE JOURNAL Tel: 781-878-4540
This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. All references to age, sq. footage, income, and expenses are approximate. Buyers should conduct their own independent investigations and rely only on those results.
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