Real Estate Firm Spending $100 Million to Redevelop Benny’s
PROVIDENCE, R.I. — A Rhode Island real estate firm says it will spend more than $100 million to redevelop 29 locations of the southern New England retail chain Benny's, which is closing its doors this year.
The Carpionato Group announced plans Thursday to bring a mix of retailers and restaurants to the Benny's locations. They expect to create hundreds of construction jobs and more than 1,000 permanent jobs once the stores open.
The company said Tuesday it was buying nearly all of the Benny's locations for an undisclosed sum. The deal involves 14 stores in Rhode Island, 11 in Massachusetts and four in Connecticut.
The agreement comes after the Bromberg family, which has long owned the chain, announced they are retiring.