SOUTHFIELD, Mich., Sept. 12 /PRNewswire/ -- Ramco-Gershenson Properties
Trust (NYSE: RPT) today announced the grand opening of the Auburn Mile, a
650,000 square foot shopping center located in Auburn Hills, Michigan. Meijer
(a grocery/general merchandise retailer), Target and JoAnn etc craft
superstore are now open. Best Buy, Costco and Ethan Allen are expected to
open late fall.
The center, which commenced construction last summer, is located in the
heart of Oakland County, the third wealthiest county in the nation and fronts
a full mile on the I-75 expressway, the most significant corridor in
Southeastern Michigan. Access to the center off of I-75 is provided by two
full interchanges at Baldwin and Joslyn Roads.
"Auburn Mile is shaping up to be an extremely valuable addition to our
shopping center portfolio", said Dennis Gershenson, president and chief
executive officer. "With its mix of leading national and regional tenants,
superior location and accessibility from the freeway, the center attracts
shoppers from a large trade area, positioning itself as one of the dominant
shopping centers in the area."
Ramco-Gershenson Properties Trust has a portfolio of 56 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 more information on Ramco-Gershenson Properties Trust via facsimile at
no cost, simply dial 1-800-PRO-INFO and enter the company code RPT or visit
our Website @ http://www.ramcogershenson.com
SOURCE Ramco-Gershenson Properties Trust
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Related links:
http://www.ramcogershenson.com
CONTACT:
Dennis Gershenson, President & CEO, or
Richard Smith, CFO, both of Ramco-Gershenson Properties Trust,
248-350-9900
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