(Natalie Keith is a contributing writer to GlobeSt.com.)

SOUTHFIELD, MI-Redevelopment efforts at Ramco-Gershenson Properties Trust’s Tel-Twelve shopping center have been completed with the signing of two new tenants, PetsMart and Best Buy. “With the signing of these two leases, we are done with the redevelopment efforts for all intents and purposes,” Fred Zantello, executive vice president of the Farmington Hills-based REIT tells GlobeSt.com. “It was really more of a remerchandising rather than a redevelopment,”

PetSmart signed a 30,000-sf lease and will be located in space formerly occupied by Circuit City. About 20,000 sf to 22,000 sf will be used for a prototype store and the remaining 8,000 sf to 10,000 sf will be used for a PetsHotel, a new concept by the pet supplier. The store is expected to open in August or September, Zantello says.

Best Buy signed a 44,000-sf lease and will occupy space formerly leased by Media Play. Ramco-Gershenson is demolishing the two-story building where Media Play was located, and Best Buy’s new unit is expected to open in October or November.

“The company terminated the leases of both Circuit City and Media Play in the second and third quarter, securing lease-buyouts from the users,” said president and chief executive officer Dennis Gershenson in a released statement. “Both of these new retailers are positive draws for the center.”

Tel-Twelve is a 525,000-sf shopping center located in the southeast quadrant of Telegraph and Twelve Mile roads, two heavily traveled roadways in Southeastern Michigan. The signing of leases with PetSmart and Best Buy marks the second, and final, redevelopment of the shopping center over the past two years. Under past redevelopment efforts, new retail anchors were added including Lowe’s, Meijer, Michaels, DSW and Pier 1 Imports.

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?


© 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.

Dig Deeper


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


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.