Rhode Island mall changes hands

Property anchored by Stop & Shop

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

CB Richard Ellis/Whittier Partners arranged the sale of Salt Pond Shopping Center located on Route 108 in Narragansett, R.I. The value of the transaction was $30.7 million. Cornerstone Real Estate Advisers acquired the 185,631-square-foot center from Property Advisory Group. Salt Pond Shopping Center is anchored by Stop & Shop (60,853 square feet) and Marshalls (55,650 square feet). Stop & Shop renovated its store in 2000. Marshalls took over a former Ames lease and opened for business in 2003. Other tenants at the property include West Marine, Sears Appliance, Blockbuster Video, Only a Dollar, and Newport Creamery. The center is located at the intersection of Point Judith Road and Woodruff Avenue. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....