Natalie Keith
SOUTHFIELD, MI-Redevelopment efforts at Ramco-GershensonProperties Trust's Tel-Twelve shopping center have been completedwith the signing of two new tenants, PetsMart and Best Buy. "Withthe signing of these two leases, we are done with the redevelopmentefforts for all intents and purposes," Fred Zantello, executivevice president of the Farmington Hills-based REIT tellsGlobeSt.com. "It was really more of a remerchandising rather than aredevelopment,"
PetSmart signed a 30,000-sf lease and will be located in spaceformerly occupied by Circuit City. About 20,000 sf to 22,000 sfwill be used for a prototype store and the remaining 8,000 sf to10,000 sf will be used for a PetsHotel, a new concept by the petsupplier. The store is expected to open in August or September,Zantello says.
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