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Paolino adds Hasbro office building to real estate holdings


PROVIDENCE, R.I. — Paolino Properties has added to its Rhode Island real estate portfolio this month with the purchase of an East Providence building that houses Hasbro Inc. offices.


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}); Paolino adds Hasbro office building to real estate holdings Published: January 13, 2015 10:23 AM Comments .addthis { border-top: 1px solid #0F3E71; border-bottom: 1px solid #0F3E71; padding: 10px 5px; margin-bottom: 20px; } var switchTo5x=true; stLight.options({publisher: "af51aaca-03ce-4aa8-b72b-e643556f6eaf", doNotHash: true, doNotCopy: false, hashAddressBar: true}); By Paul Grimaldi Paul Grimaldi The Providence Journal pgrimald@providencejournal.com Published: January 13 2015 10:23 PROVIDENCE, R.I— Paolino Properties has added to its Rhode Island real estate portfolio this month with the purchase of an East Providence building that houses Hasbro Incoffices.The real estate firm, led by former Providence mayor Joseph RPaolino Jr., paid $10.5 million to a real estate holding entity — Conhas I & II LLC — for the 123,000-square-foot building at 200 Narragansett Park Drive, the Paolino company said TuesdayMore than 400 employees in Hasbro’s research and development, administrative and data units work in the building, which is just down Newport Avenue from the toy maker’s Pawtucket headquarters.The purchase adds to Paolino’s expanding portfolio“We are committed to supporting the continued growth of Rhode Island’s economy and providing high quality space for corporations and their employees,” Paolino said“The acquisition also aligns with our objective to grow and diversify the Paolino portfolio.”A year ago, Paolino Properties made perhaps its largest purchase, paying $60 million for the downtown Providence office tower at 100 Westminster St., the attached historic building at 30 Kennedy Plaza and the parking lot at 110 Westminster St.Paolino’s plan to purchase the Newport Grand slot parlor along with two other investors was put on hold in 2014 after voters in that city turned down a November referendum that would have allowed table games at the venue. On Twitter:  @PaulEGrimaldi .addthis { border-top: 1px solid #0F3E71; border-bottom: 1px solid #0F3E71; padding: 10px 5px; margin-bottom: 20px; } var switchTo5x=true; stLight.options({publisher: "af51aaca-03ce-4aa8-b72b-e643556f6eaf", doNotHash: true, doNotCopy: false, hashAddressBar: true}); var pjc_oburlStr = location.pathname + '; pjc_oburlStr = (pjc_oburlStr.indexOf('?') > -1) ? pjc_oburlStr.substr(0, pjc_oburlStr.indexOf('?')) : pjc_oburlStr; var OutbrainPermaLink = 'http://www.providencejournal.com' + pjc_oburlStr; document.write('); var pjc_oburlStr = location.pathname + '; pjc_oburlStr = (pjc_oburlStr.indexOf('?') > -1) ? pjc_oburlStr.substr(0, pjc_oburlStr.indexOf('?')) : pjc_oburlStr; var OutbrainPermaLink = 'http://www.providencejournal.com' + pjc_oburlStr; document.write('); COMMENTS Providencejournal.com is now using Facebook CommentsTo post a comment, log into Facebook and then add your comment belowYour comment is subject to Facebook's Privacy Policy and Terms of Service on data useIf you don't want your comment to appear on Facebook, uncheck the 'Post to Facebook' boxTo find out more, read the FAQ

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