OAK BROOK, Ill., Nov. 11, 2014 /PRNewswire/ -- Retail
Properties of America, Inc. (NYSE:RPAI) announced today that the
American Automobile Association (AAA), Max Muscle, Wingstop and
Sport Clips have signed leases on more than 9,000 square feet of
available retail space at Pacheco Pass in Gilroy, California, enhancing the property's
merchandising mix and increasing occupancy at the center.
Pacheco Pass Shopping Center, located in the center of
Gilroy, CA, has great visibility
and ease of access from Highway 101. It is anchored by Lowe's,
Costco and a Wal-Mart Supercenter along with national tenants such
as Best Buy, HomeGoods and Old Navy. Since adding Marshalls in late
2011, followed by Kirklands and Ulta Beauty in 2012, RPAI has
achieved a measurable increase in
the leased rate at the center, moving from 69% as of March 31, 2011 to 97% today, creating new demand
for the retail space and improving rent rates at the property.
"Leasing performance at Pacheco Pass has been strong," stated
Stacy Short, assistant vice
president, leasing director, west region. "The additions of AAA,
Max Muscle, Wingstop and Sport Clips are definite indicators that
our remerchandising efforts are working and we are in the midst of
a major revitalization in the overall trade area. We welcome our
new tenants to the center and look forward to additional tenant
announcements as we continue to enhance the value of Pacheco
Pass."
The new tenants at Pacheco Pass will open between late fall 2014
and spring 2015.
About RPAI
Retail Properties of America, Inc. is a REIT and is one of the
largest owners and operators of high quality, strategically located
shopping centers in the United
States. As of September 30,
2014, the Company owned 218 retail operating properties
representing 31.1 million square feet. The Company is publicly
traded on the New York Stock Exchange under the ticker symbol RPAI.
Additional information about the Company is available at
www.rpai.com.
Media Contact:
Kimberly Freely
Director, PR & Communications
630-634-4319
freely@rpai.com
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SOURCE Retail Properties of America, Inc.