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Ramco Fills Tel-Twelve Anchor Holes with PetsMart, Best Buy

SOUTHFIELD, MI-With the signing of leases by PetSmart and Best Buy, Ramco-Gershenson Properties Trust, owner of the Tel-Twelve shopping center has completed plans to "de-mall" the center. The signing of the two leases marks the second and final redevelopment phase of the shopping center.

By Natalie Keith | Updated on February 27, 2006

( Natalie Keith is a contributing writer to GlobeSt.com.)

SOUTHFIELD, MI-Redevelopment efforts at Ramco-Gershenson Properties Trust’s Tel-Twelve shopping center have been completed with the signing of two new tenants, PetsMart and Best Buy. “With the signing of these two leases, we are done with the redevelopment efforts for all intents and purposes,” Fred Zantello, executive vice president of the Farmington Hills-based REIT tells GlobeSt.com. “It was really more of a remerchandising rather than a redevelopment,”

PetSmart signed a 30,000-sf lease and will be located in space formerly occupied by Circuit City. About 20,000 sf to 22,000 sf will be used for a prototype store and the remaining 8,000 sf to 10,000 sf will be used for a PetsHotel, a new concept by the pet supplier. The store is expected to open in August or September, Zantello says.

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