THE CADDY THAT ZIGS. m 4x2.Th 1997 N /-/ in the state of Michigan in 1962, which is the Summit Place Mall in Waterford. They built the first pri- 'Th vately developed structure in down- ,— town Detroit in over 38 years when they built the Pontchartrain Hotel, which opened in 1968. And that same year, they opened Tel-Twelve Mall," said Dennis Gershenson. . "Bill and Aaron Gershenson opened three of the initial Kmart stores, including the third store in _the chain, at Plymouth and /--- Southfield roads. Once, they had a triple opening of three stores on the same day and at the exact same time — that was another first — in Dayton, Ohio. We have been a developer of shopping centers ever since." Each of Bill Gershenson's four sons came into the family business as \--they graduated from undergraduate or graduate school. They have worked together for 25 years, which is when Bruce, the youngest of the siblings, joined the organization. The four brothers continue to work together every day. Bill Gershenson died 20 years ago, and Aaron died 16 years ago. "We ran the business, along with our \--partner, Michael Ward, until the date that we went public," said Dennis Gershenson. Before Summit Place was devel- oped, the Gershensons had built a number of strip shopping centers. Both Tel-Twelve and Summit Place have undergone extensive expansions in recent years, coupled with some significant change in ten- ants. At Tel-Twelve, "we expanded and added Crowleys, Montgomery Ward downsized, and we added Office Depot, then Media Play, and then Circuit City," said Gershenson. The nearly 45,000-square-foot Circuit City store, the retailer's first superstore to be built in an enclosed mall, resulted from a repositioning at Tel-Twelve. The new store replaced MC Sporting Goods, an under-per- forming regional sporting goods operation, whose lease was terminat- ed by Ramco-Gershenson Properties Trust. Summit Place originally was a 700,000-square-foot shopping cen- ter. It has now doubled in size. What sets Ramco-Gershenson apart from its competitors is its abili- ,) ty to anticipate potential problems among its shopping center retail ten- ants, and quickly and decisively act upon their analysis. A case in point is 7 OPTION 1 OUT OF STOCK 40 to Choose From 24 Month Lease as low as $299* per month *Call or see sales person for details • expires 9/30/97 AUDETTE 4.• , // 7100 Orchard Lake Rd. (at 141,6 mile) West Bloomfield (248) 851-7200 The Board of Directors Maccabi Club eihroit Wants to wish its coaches, athletes `and parents a healthy, happy New Year. We also want to thank GUARDIAN ALARM, The Lesley Company, Harron Advertising, Foremost Athletics, The Migdal Family of Sport City and Preferred Embroidery and Design for their support and generous contributions to the 1997 Detroit Maccabi Delegation. 9/26 1997 209