The retail REIT recently signed the agreement with TJX Cos., Marshall'sowner, to expand the current store from a 26,000-sf spot to 50,000-sf store.The megastore is a new concept for TJX and includes expanded brand name homegoods, said Ramco-Gershenson officials. The new store should open byDecember.
The property owner is currently working on another lease with a destinationretailer to take over the spot left by Marshall's.Ramco-Gershenson officials said Marshall's desire to expand was aredevelopment of the plaza in 2001 and a new Wal-Mart store at the site.
Also, the REIT said it has leased a former 73,000-sf Builder's Square in theShoppes of Lakeland in Lakeland, FL, to Ashley Furniture. The new storejoins the new 125,000-sf as an anchor to the 300,000-sf Shoppes center."These two agreements we are announcing today are just the first in a seriesof releases that bring additional national, credit, destination users andanchor expansions at our shopping centers," said Dennis Gershenson,president and CEO.
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