Retail Properties of America, Inc. (NYSE:RPAI) today announced that the Shops at Legacy in Plano, TX has achieved 100% office leased rate and MacArthur Crossing in Irving, TX has achieved 100% retail leased rate after signing Plantation Petroleum Company (PPC) and Citigroup’s One Main Financial. Both centers are located in the Dallas-Fort Worth MSA and are part of RPAI’s long term strategic plan of concentrated growth in select market locations. The Shops at Legacy is located in an affluent, high growth area at the heart of the Legacy business park, a 2,665 acre master planned business, retail and residential community. It is a mixed-use urban center with an open-air, pedestrian-friendly environment featuring an outstanding mix of local and national retailers. MacArthur Crossing is across from MacArthur Park and Las Colinas Medical Center, Exxon Mobile Headquarters and other office developments. It is a high traffic community center anchored by Toys “R” Us/Babies “R” Us and Stein Mart with a great mix of national and local retailers, restaurants and services. “RPAI is thrilled that both the Shops of Legacy and MacArthur Crossing have experienced such strong leasing activity,” said Jason Kasal, vice president, senior leasing director, south region. “Leasing velocity in Texas is up and is even more pronounced in the Dallas-Fort Worth market. This represents the strength of our Texas portfolio and our company’s commitment to our tenants, the community and our shareholders.” PPC signed a 2,086 square foot lease at the Shops of Legacy and is expected to open spring 2014. PPC is a domestic exploration and production business that acquires oil and gas properties primarily located in the Eastern Shelf and Permian Basin (Texas and Southeast New Mexico). Citigroup’s One Main Financial leased the last 2,000 square feet of remaining retail space at MacArthur Crossing and is also expected to open spring 2014. The office will be located in phase II between Stein Mart and Pei Wei.
About RPAIRetail Properties of America, Inc. is a fully integrated, self-administered and self-managed real estate investment trust that owns and operates high quality, strategically located shopping centers across 34 states. The Company is one of the largest owners and operators of shopping centers in the United States. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the Company is available at www.rpai.com.