EAST PROVIDENCE – An industrial and warehouse facility with office space has hit the market at a starting bid of $3.3 million, said property representative Sweeney Real Estate & Appraisal.
The two story, 72,696 square-foot building is situated on about 2.7 acres of land and located at 77 Pawtucket Ave., according to the Sweeney listing. The property, which was built in 1972 and renovated in 2020, includes 11,700 feet of office space, two loading docks, a large freight elevator, and more than 100 parking spaces.
The location formerly housed the Colonial Mills Factory Outlet, which last year filed for Chapter 11 bankruptcy after nearly 40 years in business. In fall 2021, Colonial employed around 100 people.
Rhody Rug Inc., Colonial’s former competitor, acquired the company for an undisclosed amount in September after a months-long buying process, taking on the name Rhody Rug and Colonial Mills.
The combined operation works out of Rhody Rug’s 9 Powder Hill Road factory in Lincoln and is one of the few remaining manufacturers of its kind in the country: Rhody Rug CEO Scott Weldon last year told PBN that with the acquisition, the company is now the largest U.S. manufacturer of braided rugs.
Weldon estimated that Rhody Rug, which was founded in 1987, has just six national competitors.