GEM parent company leases River Place Office Building in Lincoln

LINCOLN – The parent company of Lincoln-based GEM Plumbing and Heating recently leased another office space in the town, according to a statement from Sweeney Real Estate & Appraisal.

Homex Services Group LLC, the parent company of GEM, leased 16,296 square feet of office space in the River Place Office Building, located at 695 George Washington Highway in Lincoln.

That’s just a portion of the 71,130-square-foot River Place Office Building, owned by D.S.D. Enterprises LLC, which bought the property in 2021. D.S.D. Enterprises is managed by Sandra Delli Carpini, owner and chief marketing officer of Seasons Corner Market, according to corporate records filed with the R.I. Office of the Secretary of State’s Division of Business Services.

The remainder of the property is occupied by the Seasons Corner Market company, which operates a chain of around 50 convenience stores co-located with Shell gas stations throughout Rhode Island, Massachusetts and New Hampshire.

GEM is currently located at its longtime headquarters at 1 Wellington Road in Lincoln, with another office on Pleasant Street in Fall River.

Sweeney did not release any of the terms of the lease agreement between the landlord and Homex Services Group, and the real estate firm did not immediately respond to an email with additional questions about what the transaction will mean for GEM’s operations.

Thomas O. Sweeney, principal of Sweeney Real Estate and member of the Society of Industrial and Office Realtors, represented D.S.D. in the lease transaction with Homex, as well as D.S.D.’s purchase of the River Place Office Building two years ago.

The River Place Office Building property, which was valued last year by Lincoln assessors as being worth about $5 million, was bought in 2021 by 695 George Washington Highway LLC for $4.8 million, according to the town’s online property tax evaluation database. 695 George Washington Highway LLC is managed by Delli Carpini, according to corporate filings. A year later, the River Place Office Building property was transferred for free to D.S.D. Enterprises, according to a copy of the warranty deed, a public record of the transaction.

The two-story office building, constructed in 1996, stands on a 10-acre lot, including 55,000 square feet of paved asphalt, according to Lincoln’s online property tax evaluation database.