Capital Group Properties purchases 160,000 s/f Warwick Center for $12.35 million

Warwick, RI Capital Group Properties purchased Warwick Center, a 160,000 s/f shopping center from Nuveen, an institutional asset manager and also a TIAA company. The purchase price of $12.35 million, marks Capital Group Properties’ first retail acquisition in the state.

Capital Group Props. plans to make capital improvements to upgrade the shopping center, such as enhancements to landscaping, the parking lot, pylon sign, lighting and building façades.

Warwick Center is comprised of national and regional tenants including Barnes & Noble, DSW, Edge Fitness, Ulta Beauty, Carrabba’s Italian Restaurant, and Walpole Outdoors.

Warwick Center is located on 15 acres at 1350 Bald Hill Rd. along the intersection of I-95 and I-295, a retail and commuter corridor that sees more than 35,000 vehicles per day. It is at a signalized intersection across from a newly opened 90,000 s/f Market Basket and Home Depot.