PROVIDENCE – The state’s tallest skyscraper, the Art Deco-style Bank of America Building at 111 Westminster St., has been sold.
The $33 million transaction closed Friday, according to Jonathan Aron, vice president of NAI Hunneman, the Boston-based firm that brokered the deal. The buyer was High Rock Westminster Street LLC, an affiliate of the Burlington, Mass.-based Compass Realty Associates, he said.
The office tower – known locally as the Superman building, for its Gotham-esque appearance – had been owned by Inland Real Estate Exchange Corp., which is affiliated with a 1031 tenant-in-common ownership of about 30 individuals, Aron said.
“It’s a very prominent building,” he said. “It’s really a huge upside opportunity for this buyer and this building down the road.”
The 428-foot building – a Providence landmark completed in 1928 as the Industrial Trust Tower, and later known as the Fleet Bank Tower – contains about 350,000 square feet, spread across 26 floors. It sits on a little more than a half-acre of land, with frontage on Kennedy Plaza.
At this writing, due to the PBN website redesign, there is no date on this story. One must go to other news sources to learn that this event occurred in 2008.