443 Jefferson Blvd
Warwick, RI 02886
Auction:4/9 - 4/11: 443 Jefferson Boulevard · Office Property For Sale

Property tours are available by appointment only. Please contact the listing broker to schedule a property tour. CBRE/New England is pleased to offer for sale 443 Jefferson Boulevard in Warwick, Rhode Island. This well-located, freestanding, single-story office building totaling ñ43,286 SF is situated on approximately 3.61 acres. Within two miles to the north on Jefferson Boulevard is Exit 15 off Interstate 95 and under one mile to the south and east is T.F. Green Airport. This property provides an optimal central location for West Bay office users. The property is further improved with approximately 217 parking spaces providing an above-market parking allocation to meet the needs of high-density office users today. The building was most recently utilized as a call center by a national bank. This building has up-to-date life safety systems and a 600 kW Cummins generator to support building operations during a power outage. 443 Jefferson Boulevard is located in the West Bay office submarket, which is the largest suburban office submarket in Rhode Island with 3,392,728 SF at year-end 2017. This submarket historically has been the strongest in the Rhode Island suburban market. While While the West Bay submarket had net negative absorption of 64,317 SF in 2017, the number is misleading as it is the result of additional buildings with availability being added to the inventory and not the result of tenants vacating space in the submarket. 443 Jefferson Boulevard was a major contributor with the addition of the 43,286 SF to the submarket. If the submarket was normalized, the vacancy rate would be well below 10%. 443 Jefferson Boulevard presents a unique opportunity for a purchaser to buy a well-located, flexible office building for its own use or as an investment well-below replacement cost in an ever-tightening, high-demand submarket.