ShopOne, Pantheon JV acquire grocery-anchored shopping center in Rhode Island

A joint venture between ShopOne Centers REIT and Pantheon announced that it acquired North Providence Marketplace, a 112,497-square-foot grocery-anchored shopping center located in North Providence, R.I.

The asset is anchored by a high-volume Shaw’s Supermarket and is situated just two miles north of downtown Providence, which serves as an economic hub for the state with its large concentration of educational, financial and healthcare employment drivers.

North Providence Marketplace has been a fixture of the North Providence community for more than 50 years and is considered the dominant center of its kind in the trade area. The asset is 88 percent occupied and has a mix of national retailers, including Shaw’s, which added an in-store Starbucks as part of its interior refresh in 2020; Dollar Tree; Rainbow; H&R Block; and Sally Beauty Supply. North Providence Marketplace is located less than five minutes from Providence College and Rhode Island College.

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