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Press release from Business Wire

Retail Properties of America, Inc. Announces 26,976 Square Feet of New Leases at The Shops at Legacy

Friday, October 26, 2012

Retail Properties of America, Inc. Announces 26,976 Square Feet of New Leases at The Shops at Legacy16:20 EDT Friday, October 26, 2012 OAK BROOK, Ill. (Business Wire) -- Retail Properties of America, Inc. (NYSE: RPAI) announced today that one of its subsidiaries recently signed a 15,169-square-foot lease with Henry's Tavern, an American Bar & Grill, and Kenny's Smoke House, a 2,736-square-foot barbecue restaurant at The Shops at Legacy (“Legacy”), one of the premiere shopping destinations in Plano, TX. In addition, Francesca's Collections, Bevello, The Boardroom and Legacy Crossfit recently opened at Legacy. Expected to open around Halloween, this will be Henry's first location in Texas. The Portland based restaurant combines its rich history with an avant garde approach to beer inspired food and a dedication to local brews. Kenny's Smoke House is a restaurant concept more than twenty years in the making by owner and well known chef, Kenny Bowers, with an opening planned for first quarter of next year. Fashion retailers that recently opened include a 1,388-square-foot Francesca's Collections store, a boutique of handpicked items with excellent prices, and Bevello, a 3,463-square-foot boutique which promotes a ‘love-centric' fashion experience. Two additions to Legacy's health and beauty category include The Boardroom, a 1,750-square-foot hair salon, which delivers the ‘ultimate relaxed grooming experience for men', and Legacy Crossfit, a 2,470-square-foot fitness facility. “Adding almost 27,000-square-feet of new restaurants and retail continues to enhance The Shops at Legacy's outstanding merchandise mix,” said Jason Kasal, vice president/leasing director for RPAI Southwest Management LLC, a subsidiary of RPAI. “The Shops at Legacy truly sets the standard in the market for providing a total shopping, dining and entertainment experience with a vibrant environment seven days a week,” added Kasal. The Shops at Legacy is the modern-day answer to a town square, set in the affluent community of Plano, Texas. It's a highly successful “urban village” that embodies a live, work, play attitude for its shoppers, business workers and residents. Fashion-forward boutiques, an art-house movie theater, and a myriad of options for dining and nightlife, The Shops at Legacy is a true destination for the Dallas/Fort Worth area. The Shops at Legacy features over 90 boutiques and restaurants including Urban Outfitters, Mi Cocina, Bob's Steak and Chop House and Sambuca 360. 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 StatementsThe 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. Retail Properties of America, Inc.Cherilyn Megill(630) 645-7247 or Megill@rpai.com