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Ramco-Gershenson Announces Newly Signed Office Leases for The Town Center at Aquia Development in Stafford County, Virginia

^{Published on 2009-01-29 05:39:36, Last Modified on 2009-01-29 05:40:28 - Market Wire}
 

FARMINGTON HILLS, Mich.--([ BUSINESS WIRE ])--Ramco-Gershenson Properties Trust(NYSE:RPT) announced today that it has signed two new office leases for its Town Center at Aquia development in Stafford County, Virginia. The new agreements include an 8,000 square foot lease with the United States Navy and a 2,400 square foot lease with Kratos Defense & Security Solutions, Inc. Both tenants will be part of the newly-constructed, 5-story office building at the Aquia development. Other office tenants currently in the building include Northrop Grumman in 62,200 square feet and SRA International, Inc. in 9,700 square feet. With the addition of the new tenants, as well as leased retail space that includes a restaurant, a barber and a dry cleaner, the office building is approximately 90% leased.

"We are pleased to announce the addition of two new office tenants for our Town Center at Aquia development," said Thomas Litzler, Executive Vice President of Ramco-Gershenson. "Quality office space remains in high demand in the Stafford County area and is an important component of our Aquia development. The Company is continuing to see interest in the site and is pursuing a number of opportunities for the development."

The Town Center at Aquia is located in the high growth; I-95 corridor located approximately 25 miles south of Washington, D.C. It is strategically positioned off I-95 and Route 610 at Exit 143, which provides excellent access for the north-south and east-west commuters. The Marine Corps Base at Quantico is just north of the development providing a large, stable population base to support the development.

About Ramco-Gershenson Properties Trust

Ramco-Gershenson Properties Trust, headquartered in Farmington Hills, Michigan, is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT), which owns, develops, acquires, manages and leases community shopping centers, regional malls and single tenant retail properties, nationally. The Trust owns interests in 89 shopping centers totaling approximately 20.1 million square feet of gross leasable area in Michigan, Florida, Georgia, Ohio, Wisconsin, Tennessee, Indiana, New Jersey, Virginia, South Carolina, North Carolina, Maryland and Illinois. For additional information regarding Ramco-Gershenson Properties Trust visit the Trust's website at [ www.rgpt.com ].

This press release contains forward-looking statements with respect to the operation of certain of the Trust's properties. Management of Ramco-Gershenson believes the expectations reflected in the forward-looking statements made in this press release are based on reasonable assumptions. Certain factors could occur that might cause actual results to vary. These include general economic conditions, the strength of key industries in the cities in which the Trust's properties are located, the performance of the Trust's tenants at the Trust's properties and elsewhere and other factors discussed in the Trust's reports filed with the Securities and Exchange Commission.