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by Kim Kalunian

Warwick, RI - The Rhode Island Mall will be back in business in the near future thanks to two developers who just purchased the formerly vacant building for $38 million.

Originally opened in 1967, the Midland Mall was New England’s first two-story enclosed shopping center. In the mid-1980s, it was renamed the Rhode Island Mall, and closed its doors in April of 2011. Since then, the mall has been void of stores (aside from the anchors of Sears, Wal-Mart and Kohl’s) and sealed off to the public. But just two week ago, Winstanley Enterprises of Concord, Mass., and Surrey Equities of New York, N.Y., finalized their purchase of the space. The sale consists of 225,000 square feet of retail space, including Wal-Mart and Kohl’s. Sears owns their own store, but Wal-Mart and Kohl’s are in long-term lease agreements.

Adam Winstanley, founder of Winstanley Enterprises, said the rent paid by Kohl’s and Wal-Mart will help to fund the renovation of the former mall.

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