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Ramco-Gershenson Plans Expansion, Upgrade at Mall

LIVONIA, MI-Ramco-Gershenson Properties Trust says Kroger will expand the anchor store at the REIT's Livonia Plaza, where it already occupies 68,000 sf. The center includes a TJ Maxx in 23,800 sf.

By Dan Heaton | Updated on May 04, 2004

LIVONIA, MI-Kroger will expand its store at a recently acquired Ramco-Gershenson Properties Trust center here, the two companies say. Kroger has an existing 68,000-sf location at the Livonia Plaza in this suburb.

Final plans for the project are now being reviewed by the city, Kroger says, with project completion expect by spring 2005. Ramco-Gershenson says parking lot improvements and lighting upgrades will accompany the expansion and renovation of the supermarket.

“During our due diligence period prior to acquiring Livonia Plaza, we discussed with Kroger the possibility of expanding the supermarket,” says president and chief executive officer Dennis Gershenson. “Thus, at the time we purchased the center approximately one year ago, we were aware of this value-added opportunity. It is a credit to our management team that they were able to move so quickly. This new agreement with Kroger will improve the shopping center’s rental stream and also the asset’s overall value.”

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