The company already relocated and expanded a 25,000-sf DSW Shoe Warehouse atthe shopping center last May. The store was previously 15,000-sf.In addition, a 13,100-sf retail outlot building has been completed. Tenantsinclude national retailers Foot Locker, Radio Shack, D.O.C. Optical and tworestaurants.
"We are very excited about the progress of the center," said DennisGershenson, president and CEO of the REIT. "This is a center wechose to de-mall and the task has spanned several years."
He also said the second phase of the development is under way, and the company isin lease negotiations with a number of national retailers to occupy thebalance of the space at the center.
Tel-Twelve shopping center fronts Telegraph Road, and is located immediately offof the M-10 and I-696 Expressways in Southfield, MI. The center serves a large trade area inOakland County.Ramco-Gershenson has a portfolio of 57 shopping centers totalingapproximately 11.2 million sf of GLA, consisting of 56community centers, of which nine are power centers and three aresingle-tenant properties, as well as one enclosed regional mall.
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