2023 CoStar Impact Award - Lease of the Year
Autism Care Provider Expands Operations, Leasing Third Property in RI
By Robert McCune
Hotel News Now
Responding to a growing need for autism care in the state, Bierman Autism Centers signed a lease in June for its third location in Rhode Island — this one in Warwick, 12 miles south of downtown Providence.
The latest autism care center occupies just under 10,000 square feet of a 44,150-square-foot building at 487-501 Jefferson Blvd. The building's other major tenants include Westbay Community Action, a community social services agency.
The social impact and team effort required to bring this lease to fruition earned the autism care center a 2023 CoStar Impact Award for lease of the year in Providence, as judged by real estate professionals familiar with the market.
Bierman Autism Centers also has locations in Cranston and East Bay, Rhode Island. Leeds Mitchell IV, executive vice president of MG Commercial Real Estate, has represented the company in all of its real estate affairs in the state. He said, "the need for these centers is more than ever," but finding the right fit for this latest expansion was challenging.
"Projects like this can be complicated and it’s important to have savvy landlords and to be able to organize and come together to ultimately be able to deliver the product on time and something that works well and within budget. It was a team effort for sure to get this lease completed," he said, adding that the property had to have options for outdoor playground space and the building had to undergo a full rehab.
Founded in 2006, Bierman Autism Centers offer children ages 18 months to 9 years old a place to engage in play to learn foundational skills they can build on, such as self-advocacy and communication.
About the project: The lease for 9,880 square feet of space in a 44,105-square-foot property at 487-501 Jefferson Blvd., Providence, Rhode Island, was signed on June 1, 2022. The space will house the Bierman Autism Centers.
What the judges said: "Knowing firsthand the lack of support in public schools for special needs children, an autism center is the definition of an impactful tenant." — Gregory Arakelian, sales associate and commercial director, Lila Delman Real Estate.
"It supports a rapidly growing area of the medical world." — Michael Giuttari, president, MG Commercial Real Estate.
They made it happen: Leeds Mitchell IV, executive vice president of MG Commercial Real Estate.
CoStar's Impact Awards highlight the commercial real estate transactions and projects that have transformed their markets over the past year. The winners are chosen by independent panels of industry professionals who work in the markets they judge.