"The addition of Bed, Bath & Beyond to our Jackson Crossing shopping center marks the fifth expansion of this asset. It also validates the continued strength of the center's location as the dominant retail venue in the Jackson trade area," says Dennis Gershenson, president and CEO. "During 2001 we commenced or completed the repositioning of eight shopping centers as we work to proactively respond to changing retail trends while continuing to strengthen great assets."

Jackson Crossing is located on West Road at the intersection of the I-94 and US 127 expressways. RPT also developed Jackson West, a 210,000-sf shopping center adjacent to Jackson Crossing. Average household income for the Jackson trade area is expected to grow approximately 20% over the next three years, according to company officials.

The company has a portfolio of 57 shopping centers, with approximately 11.8 million sf of gross leasable area, located in Michigan, Ohio, Wisconsin, New York, New Jersey, Maryland, Virginia, North Carolina, South Carolina, Tennessee, Georgia, Alabama and Florida.