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Ramco-Gershenson To Redevelop Tennessee Property

SOUTHFIELD, MI-The retail REIT says Wal-Mart will expand from a 139,000-sf store to a 208,000-sf supercenter at its Northwest Crossing center in Knoxville, TN as part of a redevelopment program.

By Dan Heaton | Updated on May 18, 2004

SOUTHFIELD, MI-An expansion of an existing Wal-Mart store will a key component to a Ramco-Gershenson Properties plan to redevelop its 304,000-sf Northwest Crossing shopping center in Knoxville, TN. Wal-Mart will expand its existing store of 139,000 sf to a 208,000-sf superstore.

In addition to the Wal-Mart expansion, the company is adding a 31,000-sf Ross Dress for Less in the location previously occupied by an Ingles grocery store. The Wal-Mart Supercenter and Ross Dress for Less are expected to open in the summer.

“Wal-Mart’s expansion to a superstore at Northwest Crossing marks the third conversion of an existing Wal-Mart to the larger format within our core shopping center portfolio,” says Dennis Gershenson, president and CEO of the Southfield-based REIT. “The decision by Wal-Mart to expand to a superstore is a testament to the shopping center’s superior location and attractive trade area demographics. The addition of the Ross Dress for Less is an example of the interest by national retailers as well as local tenants to be part of a shopping center with a Walmart Supercenter, which draws such an incredible number of customers daily.”

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