WARWICK, R.I. (AP) — A Baltimore-based real estate firm has closed on its purchase of the Rhode Island Mall in Warwick.
MCB Real Estate completed the sale of the former Midland Mall on Wednesday. The sale price wasn’t disclosed.
The company has plans to convert the property into several big box stores.
Former co-owners Winstanely Enterprises and Surrey Equities bought the mall in 2012 for $38 million and had planned to convert the two-story mall into an indoor outlet. Those plans were abandoned earlier this year.
The mall has also been owned by GLL Real Estate partners from Orlando, Florida.
Details about when the mall’s redevelopment will begin have not been released.