Paolino purchases historic Cherry & Webb building
By: Dee DeQuattro
The man who owns a large part of the Providence skyline, just made another historic aquistion.
Paolino Properties, owned by Joseph Paolino, Jr. just purchased Providence's historic Cherry & Webb building on Westminister Street for approximately $2.3 Million.
The building was formerly owned by Belvoir Properties. The current tenants include the CW-TV affiliate for Providence-New Bedford, the Rhode Island Disability Law Center, the Church of Jesus Christ of Latter Day Saints, and Broadview Networks, Inc.
“We are excited about the acquisition of this building and happy to continue expansion of our properties along Westminster Street,” said Paolino. “The Cherry & Webb building has long been a part of Rhode Island's collective memory, many have visited and shopped there over the years.”
In January, Paolino Properties acquired 100 Westminister street and the neighboring properties.
(C) WLNE-TV 2014