"Warwick is the second largest city in Rhode Island and is knownas the state's retail capital," says Lou Quilici, senior vicepresident of Inland Real Estate Acquisitions, Inc. "This center isfilled with great places to shop and it would be tough to find abetter location."William Moylan and Chris Angelone of CB RichardEllis/Whittier Partners in Boston represented the seller, 1324 BaldHill Road LLC. Angelone declined to further identify the seller,however; other local brokers tell GlobeSt.com the seller wasUniversal Properties Group of West Warwick, which matchesinformation held by the Secretary of State's office. As well, thebrokers tell GlobeSt.com that Universal Properties master leasedthe lone vacant space as part of the deal.

This is the second power center Inland has acquired in RhodeIsland in recent months. The other was a smaller power center inMiddletown that closed in December for $18 million. "This is whatthey buy and they are probably the most aggressive buyer in themarket right now," says Angelone, who brokered both deals. "They'vespent almost $50 million in the state within the last threemonths."