Westport, Connecticut based Charter Realty & Development Corp. is pleased to announce it has purchased the Former K-Mart located at Routes 2 & 117 in Warwick, RI. The vacant store is part of the Shaw’s and Michael’s anchored marketplace center of 210,000 square feet. Charter will be subdividing the store into 3 anchors. Leases have been signed for a 35,500 square foot Jo-Ann Fabric Superstore and a 43,000 square foot Ashley Furniture store. The Jo-Ann is a relocation within the market; Ashley is their first store in Rhode Island. Ami Cipolla of The Dartmouth Company brokered the Jo-Ann deal and Fred Feinblum and David Hale of Feinblum Real Estate brokered the Ashley deal. There is a 40,000 square foot unit left as well as a pad. Construction will begin in July.

For more information contact Dan Zelson, Charter Realty & Development Corp., 183 Westport Avenue, Westport, CT 06880, phone (203) 227-2922, fax (203) 227-8388. For additional information on our company and project, access our website at www.chartweb.com.