The new Marshalls is expected to be open in time for the 2003 holiday shopping season.
Ramco-Gershenson said the decision to expand by Marshalls is a result of the redevelopment of the Roseville Plaza over the last couple of years, highlighted in late 2001 with the addition of a 146,000-sf Wal-Mart store. R-G said negations in the final stages with a "destination retailer" to move into the current Marsalls location at the plaza.
No lease terms were announced.
The Megastore is a new concept for TJX Companies. It will include expanded brand name home goods, family apparel and accessories at prices it says will be less than department stores.
"During the second quarter conference call, I mentioned the pending announcement of a number of positive anchor additions and expansions at our shopping centers," says Dennis Gershenson, president and CEO of R-G.
At the same time it announced the Marshalls expansion in Roseville, R-G also said a 73,000-sf former Builder's Square at its Shoppes of Lakeland in Lakeland, FL, would be filled by Ashley Furniture and said that 300,000-sf shopping center is expected to be fully occupied by the third quarter of 2004.
"These two agreements are just the first in a series of releases that bring additional national, credit, destination users and anchor expansions at our shopping centers," Gershenson said.
The Massachusetts-based TJX Companies operates about a dozen each of its Marshalls and TJ Maxx stores in the Metropolitan Detroit area.
Ramco-Gershenson Properties Trust is based in Southfield, MI, and operates 62 shopping centers, of about 12.2 million sf of gross leasable area, in 12 states.
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