OAK BROOK, Ill., May 9, 2016 /PRNewswire/ --Retail Properties of America, Inc. (NYSE: RPAI) (or the "Company") announced today the signing of a new lease with The Wine Cellar Group to open The Wine Cellar Outlet at Heritage Square located in the Seattle Metropolitan Statistical Area (MSA). This is The Wine Cellar Group's first brick and mortar location in the state of Washington and another significant step for RPAI in upgrading the tenancy at the shopping center. The Wine Cellar Outlet will join The Corner Bakery Café, another first-to-market retailer previously announced last summer. The new location will be approximately 1,600 square feet and is expected to open in late 2016.
The Wine Cellar Group was founded in 1990 as an online-only retailer focused on sourcing small parcel and boutique wines. In 2012, they opened their first retail location, combining their "Cellar Collection" wines with a selection of handpicked wines from the world's better-known vineyards. The Wine Cellar Group's Heritage Square location, marks the Company's tenth location, and the first in the State of Washington, with plans to open several additional locations across the country this year.
Heritage Square is a 53,000 square foot neighborhood shopping center situated in the major retail corridor of Issaquah, Washington, a high barrier-to-entry sub-market with high average household incomes and great visibility off of I-90.
"We are pleased to bring another strong first-to-market retailer to the community of Issaquah," stated Stacy Short, vice president, western division. "The Wine Cellar Outlet is an exciting new retail category to add to the tenant mix, as we rebrand the center into a thriving shopping destination."
RPAI owns over 1.2 million square feet in the Seattle MSA, which is the Company's fifth largest market.
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 March 31, 2016, the Company owned 192 retail operating properties representing 28.3 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.
Kimberly Freely - Director, PR & Communications
Retail Properties of America, Inc.
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SOURCE Retail Properties of America, Inc.