RPAI Signs Three New Leases with Ulta Beauty

OAK BROOK, Ill., March 31, 2015 /PRNewswire/ -- Retail Properties of America, Inc. (NYSE:RPAI or the "Company") announced today that it has signed three new leases with Ulta Beauty and will expand two shopping centers to accommodate the retailer. The leases include a 10,400 square foot lease at Montecito Crossing in Las Vegas, Nevada, a newly constructed 10,010 square foot lease at Parkway Towne Crossing in Frisco, Texas, and a newly constructed 10,035 square foot lease at Lake Worth Towne Crossing in Lake Worth, Texas, bringing RPAI's store count to 14.

"The addition of Ulta Beauty at Montecito Crossing, Parkway Towne Crossing and Lake Worth Towne Crossing will enhance the retail mix at each of these centers," stated Maria Toliopoulos, SVP and Director of Leasing. "As a best-in-class national retailer, Ulta Beauty is a perfect fit for our high quality tenant portfolio as we continue to optimize and enrich the shopper experience."

Montecito Crossing is a highly visible center located in one of the fastest growing affluent areas in Clark County. Major tenants include HomeGoods, PetSmart, and Pier 1 Imports. The center is shadow anchored by Kohl's and offers easy access from US 95 and the Bruce Woodbury Beltway (US 215).

Parkway Towne Crossing is located in Frisco, Texas, a rapidly growing suburb of Dallas. It is shadow anchored by Super Target and offers a mix of national retailers including Best Buy and Michaels.  RPAI is expanding the shopping center by an additional 21,000 square feet to accommodate demand.

Lake Worth Towne Crossing is a busy power center offering a wide variety of retail and service uses. Shadow anchored by Target, major tenants include PetSmart, Ross Dress for Less and Hobby Lobby. RPAI recently acquired an adjacent tract of land and is expanding the center by 15,000 square feet to accommodate Ulta and Maurices.

The Ulta Beauty at Montecito Crossing is expected to open late summer, 2015 while construction at Parkway Towne Crossing and Lake Worth Towne Crossing is expected to be completed towards the end of the year.

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 December 31, 2014, the Company owned 208 retail operating properties representing 30.5 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.

Media Contact:Kimberly FreelyDirector, PR & Communications630-634-4319[email protected]

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SOURCE Retail Properties of America, Inc.