Providence Local News

 

Former Providence mayor buys 20-story skyscraper

Former Providence mayor buys 20-story skyscraper

PROVIDENCE, R.I. (AP) — Former Providence Mayor Joe Paolino (pay-oh-LEE'-noh) Jr. has bought a 20-story downtown office tower and two smaller properties for approximately $60 million.

Paolino announced on Wednesday that his firm, Paolino Properties, had acquired the building at 100 Westminster St., as well as a smaller attached building and a parking lot across the street.

The 350,000 square-foot skyscraper houses offices for companies including Providence Equity Partners, Nortek and the U.S. attorney's office. The two buildings were last sold in 2006 for $62 million.

Paolino says he is now the only Rhode Island resident to own a high-rise building in Providence.

Paolino was mayor from 1984 to 1991.

 

Image: SHUTTERSTOCK Laura Stone

 

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