Company Website:
http://rpai.com
OAK BROOK, Ill. -- (Business Wire)
Retail Properties of America, Inc. (NYSE: RPAI) announced today the
renewal of 14 PetSmart leases at the end of 2012, representing
approximately 315,000 square feet. RPAI currently has 40 PetSmart stores
in its portfolio.
“We strive to partner and continually expand our relationships with best
in class retailers such as PetSmart,” said Shane Garrison, executive
vice president, chief operating officer and chief investment officer of
RPAI. “This announcement is yet another example of our proactive asset
management approach, as we deliver on our ongoing commitment to generate
a predictable and growing cash flow stream for our shareholders.”
PetSmart, Inc. (NASDAQ: PETM) is the largest specialty pet retailer of
services and solutions for the lifetime needs of pets. The company
employs approximately 50,000 associates and operates more than 1,269 pet
stores in the United States, Canada and Puerto Rico facilities.
About RPAI
Retail Properties of America, Inc. is a fully integrated,
self-administered and self-managed real estate company that owns and
operates high quality, strategically located shopping centers across 35
states. The company is one of the largest owners and operators of
shopping centers in the United States. 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.
Forward-Looking Statements
The statements and certain other information contained in this press
release, which can be identified by the use of forward-looking
terminology such as “may,” “expect,” “continue,” “remains,” “intend,”
“aim,” “should,” “prospects,” “could,” “future,” “potential,”
“believes,” “plans,” “likely,” “anticipate,” and “probable,” or the
negative thereof or other variations thereon or comparable terminology,
constitute “forward-looking statements” within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and are subject to the safe
harbors created thereby. These forward-looking statements reflect our
current views about our plans, intentions, expectations, strategies and
prospects, which are based on the information currently available to us
and on assumptions we have made. Although we believe that our plans,
intentions, expectations, strategies and prospects as reflected in or
suggested by those forward-looking statements are reasonable, we can
give no assurance that such plans, intentions, expectations or
strategies will be attained or achieved. Furthermore, these
forward-looking statements should be considered as subject to the many
risks and uncertainties that exist in the Company’s operations and
business environment. Such risks and uncertainties could cause actual
results to differ materially from those projected. These uncertainties
include, but are not limited to, general economic, business and
financial conditions, changes in the Company’s industry and changes in
the real estate markets in particular, market demand for and pricing of
the Company’s common stock, general volatility of the capital and credit
markets, competitive and cost factors, the ability of the Company to
enter into new leases or renew leases on favorable terms, defaults on,
early terminations of or non-renewal of leases by tenants, bankruptcy or
insolvency of a major tenant or a significant number of smaller tenants,
the effects of declining real estate valuations and impairment charges
on the Company’s operating results, increased interest rates and
operating costs, decreased rental rates or increased vacancy rates, the
uncertainties of real estate acquisitions, dispositions and
redevelopment activity, the Company’s failure to successfully execute
its non-core disposition program and capital recycling efforts, the
Company’s ability to create long-term shareholder value, the Company’s
ability to manage its growth effectively, the availability, terms and
deployment of capital, regulatory changes and other risk factors,
including those detailed in the sections of the Company’s most recent
Form 10-K and Form 10-Qs filed with the SEC titled “Risk Factors”. We
assume no obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or otherwise.
Contacts:
Retail Properties of America, Inc.
Cherilyn Megill, (630) 634-4288
Megill@rpai.com
Source: Retail Properties of America, Inc.