business / news / / Providence Journal (Projo)
The Providence Place mall is being sold to a joint venture.
Providence Place mall is being sold for $133 million to Pyramid Management and Paolino Properties.
KEY POINTS
- Paolino aims to attract Costco to Providence Place, despite previous failed attempts in Rhode Island.
- Two Rhode Islanders, Gina Raimondo and Helena Foulkes, are on Costco's board, increasing potential influence.
- New owners plan to bring back former tenants and improve mall safety and operations.
COMPANIES
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