This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ramco-Gershenson Acquires Target, Whole Foods Anchored Center In St. Louis, Missouri

Ramco-Gershenson Properties Trust (NYSE:RPT) announced today that it has acquired Town & County Crossing shopping center, in Town and Country, a suburb of St. Louis, Missouri, for $37.8 million in an all cash transaction. The 282,000 square foot center, of which 145,000 square feet is owned by the Company, features a 137,000 square foot Target (anchor-owned) and a 55,000 square foot Whole Foods Market as well as a blend of strong national and regional retailers including Five Guys Burgers and Fries, FedEx, PNC Bank, Qdoba Mexican Grill, Sprint and Verizon. Town & Country Crossing is currently 81% leased, providing upside opportunities through the lease-up of newly constructed small shop space and the future development of up to 28,000 square feet of additional retail. Town & Country Crossing is the second St. Louis property acquired by the Company in 2011.

“Town & Country Crossing is a terrific complement to Heritage Place, our other St. Louis shopping center,” said Dennis Gershenson, President and Chief Executive Officer. “Both centers met our acquisition criteria including superior trade area demographics, strong anchor tenants, favorable pricing and value-add potential. Additionally, we were able to increase our footprint in St. Louis, which we have identified as an attractive expansion market.”

Town & Country Crossing is located in the southwest quadrant of Woods Mill Road and Clayton Road with direct access from State Highway 141. The center is part of a strong trade area, with a population of 165,709 and an average household income of $114,326 within a five mile radius.


Ramco-Gershenson Properties Trust (NYSE:RPT) is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT) based in Farmington Hills, Michigan. Our primary business is the ownership and management of shopping centers in targeted markets in the Eastern and Midwestern regions of the United States. At September 30, 2011, the Company owned and managed a portfolio of 84 shopping centers and one office building with approximately 15.3 million square feet of gross leasable area owned by the Company or its joint ventures. The properties are located in Michigan, Florida, Ohio, Georgia, Wisconsin, Indiana, New Jersey, Maryland, South Carolina, Virginia, Tennessee, Illinois and Missouri. For additional information regarding Ramco-Gershenson Properties Trust visit the Company's website at

This press release contains forward-looking statements with respect to the operation of certain of the Trust’s properties. Management of Ramco-Gershenson believes the expectations reflected in the forward-looking statements made in this press release are based on reasonable assumptions. Certain factors could occur that might cause actual results to vary, the ongoing U.S. recession, the existing global credit and financial crisis and other changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, adverse changes in the retail industry, our continuing to qualify as a REIT and other factors discussed in the Trust’s reports filed with the Securities and Exchange Commission.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs