Woonsocket, Rhode Island Commercial Real Estate 1 Listing

Woonsocket, Rhode Island: A Premier Destination for Commercial Real Estate

Introduction

Woonsocket, Rhode Island, offers a compelling landscape for commercial real estate (CRE) professionals. As a city with a population of approximately 41,000, Woonsocket is strategically positioned within the Providence metropolitan area. Its economy thrives on a diverse mix of industries, notably healthcare, retail, and manufacturing, making it an attractive hub for various CRE asset classes. With its rich industrial heritage and evolving economic landscape, Woonsocket presents unique opportunities for investors and developers seeking to capitalize on its potential.

Economic and Industry Overview

Woonsocket's economy is significantly influenced by its major industries, which include healthcare, retail, and manufacturing. The presence of CVS Health, a Fortune 500 company headquartered in Woonsocket, underscores the city's significance in the healthcare sector. This drives demand for office spaces and contributes to the city's robust economic profile. Additionally, the manufacturing and retail sectors support a thriving industrial real estate market. The Northern Rhode Island Chamber of Commerce and local economic development initiatives continue to foster a business-friendly environment that encourages CRE growth.

Strategic Location and Transportation Infrastructure

Woonsocket benefits from a strategic location with excellent transportation infrastructure. The city is well-connected by major highways, including Route 146 and Interstate 295, providing easy access to Providence and Boston. The proximity to T.F. Green Airport, approximately 30 minutes away, enhances Woonsocket's logistical advantages. The Rhode Island Department of Transportation provides further details on the city's transportation infrastructure, which supports efficient distribution and access to labor pools in the region.

Commercial Real Estate Inventory & Zoning

Woonsocket's commercial real estate market features diverse submarkets, including its Central Business District (CBD) and industrial corridors. Key asset classes in the city include office, industrial, retail, and medical properties. The city's zoning policies and incentives, such as tax incentives for developers, encourage CRE investment. For detailed zoning maps and parcel information, refer to the City of Woonsocket's Planning Department.

Major Employers and Institutions

Woonsocket is home to several major employers that drive demand for commercial real estate. CVS Health, the city's largest employer, maintains a significant corporate presence. Other notable employers include Landmark Medical Center and the Woonsocket School District. These institutions, along with local government centers, create sustained demand for office and medical facilities. Visit the Northern Rhode Island Chamber of Commerce for a comprehensive business directory.

Notable Commercial Developments & Projects

The city is witnessing several large-scale commercial developments, including mixed-use projects and innovation parks. Public-private partnerships and Opportunity Zones offer attractive investment opportunities. For more information on ongoing projects and development sites, explore the Woonsocket Planning Department.

Building Permits, Planning, and Development Tools

For CRE professionals looking to invest or develop in Woonsocket, key resources include:

Market Data & Economic Reports

Access to comprehensive market data is crucial for informed decision-making. Public data sets, such as those available from census.gov and the city's open data portal, provide valuable insights into Woonsocket's economic landscape. Brevitas leverages AI-powered aggregation from public data and internal insights to offer enriched market data and analytics. Explore Brevitas-powered dashboards for Woonsocket here.

Why Use Brevitas for Woonsocket, Rhode Island CRE?

Brevitas offers an unparalleled platform for discovering commercial real estate opportunities in Woonsocket. Our AI-driven tools provide real-time market alerts, smart property pages, and dealroom collaboration. Unique features include: