GAINES TOWNSHIP, MI-A Detroit area REIT has begun work on developing a 400,000-sf retail center in suburban Grand Rapids. A 208,000-sf Meijer Superstore will anchor Ramco-Gershenson Properties Trust’s Gaines Marketplace project in Gaines Township.

A 124,000 sf Target is also planned for the center. Ramco-Gershenson is in negotiations with a number of national mid-box users who are interested in locating at the site and that is has signed a lease with the Applebee’s restaurant chain for an outlot location. Additional freestanding restaurants are also planned.

The bulk of the project is expected to be open for business by summer 2005.

“The company is committed to the development of strategically located shopping centers, anchored by credit-worthy national and strong regional tenants,” says Dennis Gershenson, president and chief executive officer. “The trade area demographics and outstanding location for the Gaines Marketplace are clear indicators of a successful site. The reasonably close proximity to other shopping centers in our portfolio adds to the appeal of this development. We are pleased to be bringing a development of this size and scale to the area.”

When completed, the Gaines property will be RGPT’s 66th shopping center.

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