SOUTHFIELD, Mich., Jan. 11 /PRNewswire/ -- Ramco-Gershenson Properties
Trust (NYSE: RPT) announced today the opening of a 116,000 square foot Home
Depot at its Crossroads Centre development in Rossford, Ohio. Home Depot is
the first retailer to open at the 650,000 square foot center, where
construction began last June. Additional anchors include Target department
store, Giant Eagle supermarket, Linens 'N Things and Michael's Crafts. Leases
have also been executed with Pet Supplies Plus, Fashion Bug, Bath & Body Works
and Shoe Carnival. Crossroads Centre is located adjacent to the I-75 and
I-80/90 expressways and is part of the Toledo trade area.
"Our Crossroad Centre development is off to an outstanding start with the
ahead of schedule opening of Home Depot. Several additional retailers are
scheduled to open this spring", said Dennis Gershenson, president and chief
executive officer. "We are extremely pleased with the pace of the leasing
activity that has taken place at the center and the quality of our tenants."
Ramco-Gershenson Properties Trust has a portfolio of 56 shopping centers,
with approximately 11.7 million square feet of gross leasable area, located in
Michigan, Ohio, Wisconsin, New Jersey, Maryland, Virginia, North Carolina,
South Carolina, Tennessee, Georgia, Alabama and Florida. Headquartered in
Southfield, Michigan, the Company is a fully integrated, self-administered,
publicly-traded real estate investment trust (REIT). The Trust owns,
develops, acquires and manages community shopping centers, regional malls and
single tenant retail properties, nationally.
This press release contains forward-looking statements with respect to the
operation of certain of the Trust's properties. Management of
Ramco-Gershenson believes the expectations reflected in the forward-looking
statements made in this document are based on reasonable assumptions. Certain
factors could occur that might cause actual results to vary. These include
general economic conditions, the strength of key industries in the cities in
which the Trust's properties are located, the performance of the Trust's
tenants at the Trust's properties and elsewhere, and other factors discussed
in the Trust's reports filed with the Securities and Exchange Commission.
For further information on Ramco-Gershenson Properties Trust via facsimile
at no cost, dial 1-800-PRO-INFO and enter the company symbol RPT.
SOURCE Ramco-Gershenson Properties Trust
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CONTACT: Dennis Gershenson, President & CEO, or Richard Smith, CFO of Ramco-Gershenson Properties Trust, 248-350-9900, or fax, 248-350-9925
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