Kempner Properties And Peter Braus Acquire Retail Asset From Mike Schuchman For $8.5M

The retail property located at 75 Newport Avenue in East Providence, RI, was sold for $8,500,000. This asset encompasses a total square footage of 14,368, leading to a price per square foot of $591.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,500,000
• Square Footage: 14,368
• Price per Square Foot: $591
• Buyer: Kempner Properties & Peter Braus
• Seller: Mike Schuchman - ALRIG USA
• Broker: Robert Horvath - Horvath & Tremblay
• Transaction Date: 06/30/2026

The deal was facilitated by broker Robert Horvath, representing the interests of the buyer, Kempner Properties, and Peter Braus, while the seller was represented by Mike Schuchman of ALRIG USA. This transaction reflects strategic movements in the retail market within the region.