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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.