Mott & Chace Sotheby's International Realty has traded its Waterplace Condominiums address for a new 1,600-square-foot office in Wayland Square, relocating its city operation to 145 Wayland Ave. on Providence's East Side. The move gives the brokerage a fresh foothold in a neighborhood known for its mix of residential and commercial properties.
According to Providence Business News, the lease transaction was announced in June and facilitated by Kevin Casey of Sweeney Real Estate & Appraisal, who represented Cerce Capital, the ownership in the deal. The new office sits within a commercial property identified by the Providence property assessor at 141 Wayland Ave.
A Look at the Wayland Square Building
The property contains 5,622 square feet of above-grade space, with 2,811 square feet spread across each of its two floors, per the same report. Built in 1965, the building is classified by the assessor as an office building and sits on a 3,355-square-foot lot, or about 0.08 acres. The outlet's reporting notes the property had a 2026 total assessment of $927,400, consisting of $532,500 for the land and $394,900 for the building, and that it last changed hands in August 2021, when it sold for $700,000.
The relocation marks another chapter for a brokerage that has steadily expanded across Rhode Island since its founding. Mott & Chace was founded in 2013 by Ray Mott and Judy Chace and is affiliated with the Sotheby's International Realty network, the station's report indicates. The company grew its footprint in 2016 through the acquisition of Coleman Realtors, which expanded its presence into Barrington and East Greenwich.
Part of a Broader Statewide Footprint
By 2024, Mott & Chace had opened its eighth Rhode Island office in Bristol and was operating locations across Charlestown, Providence, Westerly, Narragansett, East Greenwich, Barrington, Westport and Bristol, the same account states. The firm had previously set up a downtown Providence office at 100 Exchange Street along Water Place Park, a 1,800-square-foot space designed by Saccoccio & Associates that included a conference room, two private offices and an open work area for 14 agents, according to sa-architects.com.
The move to Wayland Square comes as Providence's office market continues to navigate elevated vacancies. The city's office vacancy rate stood at 18.50% in 2025, unchanged from the year before and below Rhode Island's 22.53% statewide average, according to commercialcafe.com. That data covers properties of at least 25,000 square feet, so it does not directly reflect a space the size of Mott & Chace's new 1,600-square-foot office.
Rents Climbing Even as Space Sits Empty
Average asking rent for Providence office space reached $30.56 per square foot in 2025, up 2.54% from the previous year, per the commercial real estate data firm. Downtown Providence had the lowest vacancy rate in the market at 16.32%, while Greater Providence recorded the highest at 22.12%. Providence completed a total of 212,000 square feet of office space in 2025, the firm's figures show.
For Mott & Chace, the Wayland Square move represents a return to a tighter, neighborhood-scaled footprint after years of expansion across the state. The brokerage held a grand opening for the new Providence office, describing the space as its new Providence home, PBN reported.
