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Last Updated ( Tuesday, 22 May 2012 19:16 )
DATE_FORMAT_LC2=Tuesday,May 22 2012 12:00:00 am EDT   
Ramco-Gershenson to Acquire Four Shopping Centers

Boulder, Colo.; St. Louis; Milwaukee  — Ramco-Gershenson Properties has entered into purchase agreements to acquire four shopping centers in Colorado, Missouri, and Wisconsin. Harvest Junction North and South are regional community centers in Boulder, Colo., with purchase prices of $35.5 million and $33.7 million respectively. The two centers include 327,875 square feet and are 96 percent leased.Ramco-Gershenson is also in contract to purchase an additional 14 acres adjacent to Harvest Junction North for $2.7 million for expansion.

The 166,468-square-foot Central Plaza in St. Louis has a purchase price of approximately $21.6 million. Central Plaza is 100 percent leased and is anchored by Office Max and JoAnn Fabrics.

The Nagawaukee Shopping Center, which is located in Milwaukee, carries a purchase price of $15.1 million. The 113,617-square-foot shopping center is anchored by a Kohl's Department Store and a 60,000-square-foot Sentry Supermarket, which is not part of the acquisition. The company anticipates all four of the purchases will be all-cash transactions.

— Brittany Biddy

 

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