Retail Properties of America, Inc. Signs lululemon to New Leases at Southlake Town Square and The Shops at Legacy

  Retail Properties of America, Inc. Signs lululemon to New Leases at
  Southlake Town Square and The Shops at Legacy

Business Wire

OAK BROOK, Ill. -- June 27, 2013

Retail Properties of America, Inc. (NYSE: RPAI) today announced that it has
entered into its first leases with lululemon athletica inc. (“lululemon”),
bringing lululemon’s trend-setting athletic apparel to Southlake Town Square
(“Town Square”) in Southlake, TX and The Shops at Legacy (“Legacy”) in Plano,
TX, further establishing these lifestyle centers as leading shopping
destinations in Texas.

“We are very excited to partner with lululemon, a best-in-class athletic
apparel retailer, at our premier Town Square and Legacy properties,” said
Shane Garrison, executive vice president, chief operating officer and chief
investment officer of RPAI. “This announcement is an example of the increased
demand from a broad spectrum of retailers we are seeing for small shop space
in today’s marketplace. RPAI’s new leases with lululemon increase the
diversity of our tenant base and demonstrate the quality of our portfolio. As
we continue our proactive remerchandising approach, we are intently focused on
capturing the right tenants for all of our properties that will drive
increased consumer traffic and have both strong credit qualities and
attractive long-term prospects.”

The lululemon leases, which total 6,423 square-feet, include 3,243 square-feet
at Town Square and 3,180 square-feet at Legacy. RPAI has additionally signed
new and renewal small shop leases of 114,680 and 76,909 square feet to Town
Square and Legacy, respectively in the last 12 months.

Located in the heart of the Dallas-Fort Worth Metroplex in Southlake, Texas,
Southlake Town Square is known worldwide as the blue print for success in
open-air lifestyle urban developments. Opened in 1999 and expanded
progressively since that time, the 130-acre Town Square boasts more than 120
specialty retail shops and restaurants including Apple, Michael Kors, J.Crew
and Coach. The center is also home to a 14-screen Harkins Theatre, an upscale
urban Hilton Hotel, offices, city and county government buildings, a U.S. Post
Office and residential brownstones.

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, Francesca’s, Mi
Cocina, Bob’s Steak and Chop House, Sambuca 360 and Kendra Scott, which is
opening soon.

About lululemon athletica

lululemon athletica (NASDAQ:LULU) (TSX:LLL) is a yoga-inspired athletic
apparel company that creates components for people to live long, healthy and
fun lives. By producing products that help keep people active and stress free,
lululemon believes that the world will be a better place. Setting the bar in
technical fabrics and functional designs, lululemon works with yogis and
athletes in local communities for continuous research and product feedback.
For more information, visit www.lululemon.com.

About RPAI

Retail Properties of America, Inc. is a fully integrated, self-administered
and self-managed real estate investment trust 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 Statements

The 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.

Contact:

Retail Properties of America, Inc.
Cherilyn Megill, (630) 634-4288
Megill@rpai.com