SOUTHFIELD, Mich., July 20 /PRNewswire/ -- Ramco-Gershenson Properties
Trust (NYSE: RPT) announced today the opening of a 136,000 square foot
Wal-Mart (NYSE: WMT) at its Roseville Plaza shopping center in Roseville,
Michigan. Roseville Plaza is a 300,000 square foot shopping center located
at the intersection of 12 Mile and Gratiot Roads, adjacent to the I-696
Expressway.
"We are pleased to bring a retailer of Wal-Mart's magnitude to this
market", said Dennis Gershenson, president and chief executive officer. "The
inclusion of Wal-Mart at this center was part of a redevelopment project that
also included relocating and expanding a CVS Drug store as well as a complete
renovation of the center. These efforts immediately impact our bottom line
and strategically position the center for the future."
Ramco-Gershenson Properties Trust has a portfolio of 55 shopping centers,
with approximately 11.5 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, +1-248-350-9900, Fax, +1-248-350-9925, both of Ramco-Gershenson Properties Trust
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