Capital Group Properties of Southborough, MA has purchased  Warwick Center, the company announced this week.

Capital Group acquired the  160,000 SF shopping center  on Bald Hill Road from Nuveen, a large institutional asset manager and also a TIAA company. The purchase price of $12,350,000 marks Capital Group Properties’ first retail acquisition in Rhode Island. Capital Group 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. In the state’s  core retail corridor, Warwick Center is located on 15 acres at 1350 Bald Hill Road that sees more than 35,000 vehicles per day. It is at a signalized intersection across from a newly opened 90,000 SF Market Basket and Home Depot.