Providence Hill Real Estate owners buy office building near Tuckahoe HQ

The Ridge Office Building near Tuckahoe Shopping Center changed hands this spring. (Photos courtesy Providence Hill Real Estate)

After expanding with a second office across the river, the owners of a Tuckahoe-based real estate brokerage have secured additional room to grow across the street from their home base.

Providence Hill Real Estate’s Elliott Gravitt and brothers Caleb and Dawson Boyer recently purchased the Ridge Office Building at 8010 Ridge Road, just across and up the road from the brokerage’s original storefront at Tuckahoe Shopping Center.

Dawson Boyer said they jumped at the opportunity when they saw the building had been listed for sale. He said the two-story, 7,700-square-foot building, which is fully occupied, could eventually provide additional space for Providence Hill if it outgrows its Tuckahoe storefront, which the brokers plan to keep open.

Either way, he said the building was an appealing investment.

“We weren’t really looking to expand; we just noticed that it popped up on the market and we started chatting about how we’ve grown over the last four years, and there’s not really ever any space that becomes available in that little intersection right there,” Dawson Boyer said.

“We just got excited about the opportunity and mobilized quickly to get in an offer,” he said, adding that they competed with other offers on the property. “We don’t have plans to move immediately, but we’re committed to that area, we all live in that area and are from that area, so it was just a cool opportunity to plan for the future and have available space down the road.”

The group purchased the building from an entity tied to Hob Sigmon, a longtime area real estate agent who had co-owned the property since the 1980s.

Sigmon, president of Hob Sigmon Realty, said the property was put up for sale at the request of the family of his late investment partner, who had held the majority stake in the ownership entity. The property was listed by Mary Sigmon, Hob’s daughter and co-owner of Hob Sigmon Realty, who also managed the building.

Hob Sigmon

“We were happy with where it was going, because it stayed full and was easy to manage, and it was always nice to say it was the only office building around near the shopping center,” Hob Sigmon said. “We were happy with it, but (the family) kind of insisted we sell it and owned a little bit more than we did, so that’s why we sold it.”

Hob Sigmon, who likewise resides nearby, said he was happy that the building would remain in local ownership.

“That’s primarily the reason why we entertained his offer without asking for a whole lot of other bids,”he said, adding that Boyer helped seal the deal by writing him a letter stating why he wanted to own it and how he planned to keep it managed locally.

“He told me he’d gone to Tuckahoe Elementary and his children are going there. He’s been a local boy, so that was particularly appealing to us, because we felt…