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WARWICK, R.I. — Winstanley Enterprises and Surrey Equities have acquired the historic Rhode Island Mall at 650 Bald Hill Road in Warwick for $38 million. The 450,000-square-foot mall originally opened as the Midland Mall in 1967 as the first two-level enclosed mall in New England. The mall portion of the property, totaling 225,000 square feet, has been vacant since closing in April 2011. The remaining standalone retail space is currently anchored by Sears, Walmart and Kohl's. The new owners plan to renovate the mall and create larger tenant spaces that cater to anchor tenants. Cushman & Wakefield represented the seller, GLL Real Estate Partners, in the transaction. Eastern Retail Properties represented the buyer.