Warwick, R.I. - An affiliate of CRES Development Co. recently acquired Bald Hill Plaza in Warwick for $9 million. The seller was Dallas-based Archon Group LP.

The 128,840-sq.-ft. power center, which is located along the state's most heavily concentrated retail corridor, includes anchor tenants TJ Maxx, MVP Sports and Target Department Stores. CRES Development Co. plans to renovate and re-merchandise the center, notes president and chief operating officer Bruce Gorsky.

Based in Lynnfield, Mass., CRES Development Co. is a REIT active throughout the states of New England and Florida.