OAK BROOK, Ill., June 25, 2015 /PRNewswire/ -- Retail Properties of America, Inc. (NYSE: RPAI or the "Company") announced today that Total Wine & More has signed a new lease at Denton Crossing in Denton, Texas, their fifth location across the portfolio. In addition, Kroger is expanding its footprint at Denton Crossing by over 18,000 square feet, bringing the center's leased rate to 99%.
Total Wine & More will occupy 24,000 square feet and will be located between Best Buy and TJ Maxx. Founded in 1991, Total Wine & More is the country's largest independent retailer of fine wine with more than 8,000 different wines from every wine-producing region in the world, as well as more than 2,500 beers and 3,000 different spirts in various price ranges and categories. Total Wine & More currently operates more than 110 superstores across 16 states.
Kroger, one of the largest grocery retailers in the United States, will be adding 18,300 square feet to its current location, increasing its footprint at Denton Crossing to more than 80,000 square feet. Kroger will also be remodeling the existing store as part of the expansion.
Denton Crossing is conveniently located off of I-35, just east of Golden Triangle Mall. The center has a large mix of national retailers including Michaels, Ulta, TJ Maxx, Old Navy, Best Buy, Pier 1 Imports and Famous Footwear.
"Denton Crossing is perfectly positioned in the market's retail corridor and the leasing activity with these two retailers further speaks to the strength of our center," stated Jason Kasal, vice president and senior leasing director, south region. "Kroger's expansion and the opening of Total Wine & More will result in a significant increase in occupancy and foot traffic to the center while further enhancing the overall shopping experience."
Total Wine & More is expected to open in late fall 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 March 31, 2015, the Company owned 212 retail operating properties representing 31.3 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.
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SOURCE Retail Properties of America, Inc.