Property tours are available by appointment only on Tuesday, August 22nd, from 12:00pm-2:30pm, and Thursday, September 7th, from 9:30am-12:00pm. Please contact the listing brokers to schedule an appointment.
Calkain & Ten-X are pleased to offer for sale to qualified investors, the opportunity to purchase the fee simple interest in the fully leased office building located at 55 Technology Way (the “Property”) within the West Greenwich Business Park, which is a 52 acre campus business park. 55 Technology Way is a Class A office building on 10.82 acres and consisting of 113,700 SF of office space, plus 56,300 SF of manufacturing space, for a total of 170,000 SF. The Property is 100% leased to IGT Global Solutions Corporation (“IGT” or the “Tenant”), who has occupied the building since December of 2006. 55 Technology Way is a regional facility for IGT, who originally signed a 10 year lease as GTECH Corporation (in 2015 GTECH fully acquired IGT and adopted the name). Subsequently, the Tenant has recently extended its current base year lease term for an additional 8 years, through November 30, 2027 providing a full 10 years of base term plus two successive option periods.
The Property was built in 1993, but as part of IGT’s recent lease extension the building systems and entire office space will be modernized with improved office design and updated finishes. These upgrades will be funded through a $2,300,000 tenant allowance package. In addition to the TI Allowance, the landlord has agreed to repave and restripe the parking lot and install a new roof.
IGT is the world’s leading end-to-end gaming company. It is a public company, traded on the New York Stock Exchange (NYSE: IGT) with a market cap of $3.76B and total revenue in excess of $5.15B as reported 12/31/2016. It’s holdings company headquarters are in the United Kingdom, with operating headquarters in Rome, Italy; Las Vegas, Nevada; and Providence, Rhode Island. IGT attracts the industry’s top talent, with more than 12,000 employees across the globe.
Broker of Record: Michael J. Giuttari | MG Commercial Real Estate | RI Lic#REC0013621 This property will be auctioned on Monday, September 11 - Wednesday, September 13 . The price displayed is the starting bid amount of $7,000,000. For information and to register to bid on this property, please visit Ten-X.com.