Detroit mall may get J.C. Penney; Store would anchor Shoppes at Gateway Park.(News)(J.C. Penney Corporation Inc.' contract with General Growth Properties Inc.)

Crain's Detroit Business, March, 2007 by Harrison, Sheena

Byline: Sheena Harrison J.C. Penney Co. Inc. has signed a letter of intent to anchor The Shoppes at Gateway Park in Detroit - a sign that the developer could be gaining momentum in its plans to develop the 330,000-square-foot retail center. According to a letter forwarded to Crain's by Bernard Schrott, a Gateway Park investor, Plano, Texas-based J.C.

Penney intends to open a 100,000-square foot store at the center, which is planned for the southeast corner of Eight Mile Road and Woodward Avenue near the Michigan State Fairgrounds. The letter is from Chicago-based General Growth Properties Inc., the nation's second-largest retail real estate investment trust, which has agreed to develop, lease and manage Gateway Park. Plans also include up to five national...

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