MOUNT PROSPECT, IL-Ramco-Gershenson Properties Trust reports it has acquired the Mount Prospect Plaza shopping center here for a little over $36 million.

The Farmington Hills, MI-based REIT paid $36.1 million for the 301,000-square-foot retail center anchored by Marshalls, Ross Dress for Less, Aldi, a Walgreen's data processing center and a LA Fitness that is under construction. The shopping center is shadow-anchored by a Walmart Supercenter.

Other tenants at the property, which is 85% leased, include: Dress Barn, Famous Footwear, Petco, Sally Beauty, Subway, Chase Bank, Charter National Bank, Panda Express, and Jimmy Johns.

“At the beginning of the year the company announced its interest in acquiring high-quality shopping centers in the Chicago and St. Louis metropolitan markets as well as in the state of Colorado. Our strategy is to acquire properties where we can add value for our shareholders,” states Dennis Gershenson, president and CEO of Ramco-Gershenson.

He continues, “Mount Prospect Plaza satisfies all of our acquisition criteria including a superior demographic profile, a compelling roster of national creditworthy tenants, and the potential to drive additional value. At this center, we saw immediate lease-up potential and the opportunity to expand the center and add several out parcels.”