RPT BUYS 270,000 SF SHOPPING CENTER

by admin

CREVE COEUR, MO. — Ramco-Gershenson Properties Trust (NYSE: RPT) has acquired Heritage Place, a 270,000-square-foot shopping center located in the St. Louis suburb of Creve Coeur. Situated at the intersection of Olive Boulevard and Ross Avenue, the property is anchored by a 74,721-square-foot Dierberg's Supermarket. Other tenants include Marshalls, T.J. Maxx, Office Depot and Petco. Occupancy was 90.1 percent at the time of closing. Heritage Place marks the fourth grocery-anchored shopping center RPT has purchased since the third quarter of 2010. The seller's name and acquisition price were not disclosed.

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