ONE CITIZENS PLAZA
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OWNER: |
Gramercy Capital |
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DEVELOPER: |
Marsella Development Corporation |
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INVESTMENT: |
$42,000,000 |
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RECENT SALE: |
$60,200,000 (2006) |
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SCOPE: |
240,000 square foot Class A commercial office building |
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STATUS: |
Fully occupied and highest rental rate in the Providence office market |
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In the late 1980’s Marsella Development approached Citizens Financial Group about building its world headquarters on a prominent site in downtown Providence already controlled by the developer. During the adjacent river relocation project, One Citizens Plaza raised thirteen stories to become the signature office building in the city, a recognition the property still holds today.