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Major Tenant Happenings Cleveland, Ohio -- Several major tenants have opened at centers owned and managed by Developers Diversified Realty Corp., Cleveland. Kohl's department store recently opened at Nassau Park Pavilion in Princeton, N.J.; Springfield Commons in Toledo, Ohio; and Stow Community Center in Stow, Ohio. Babies 'R' Us recently joined Southland Crossings in Boardman, Ohio, and Bed Bath & Beyond opened a store at Uptown Solon in Solon, Ohio. In addition, CompUSA has opened at The Shoppes at Sunset Hills, a 97,678 sq. ft. center in Sunset Hills, Mo. The center is managed by The Sansone Group, St. Louis, through a joint venture with Developers Diversified, its owner.

Plano, Texas -- Saks Fifth Avenue will join the anchor lineup at an upscale regional mall in Plano being planned by Bloomfield Hills, Mich.-based Taubman Centers Inc. The as-yet-unnamed center also will feature Neiman Marcus, Dillard's, Foley's and Lord & Taylor when it opens in August 2001. The two-level Saks store, which will not open until 2004, is initially planned for 120,000 sq. ft. with expansion rights to 160,000 sq. ft.

New Developments Pasadena, Calif. -- A luxury urban hotel is being paired with upscale retailers and restaurants in a new development by Los Angeles-based Champion Development Group. The Pasadena Collection, a $45 million project located on the northwest corner of South Lake Avenue and Cordova Street, is expected to serve as a catalyst for the renaissance of South Lake as a fashionable downtown business district.

The entire project, which is expected to get under way in the spring, will total approximately 200,000 sq. ft., with the hotel occupying 160,000 sq. ft. and upscale retail and restaurant space accounting for 40,000 sq. ft. The 200-room hotel will be designed in the European tradition, translating into a refined, residential environment as opposed to a hotel that hosts large conventions. A 15,000 sq. ft. landscaped courtyard, including a water feature, will be the focal point of the project.

Atlanta -- Plans are in the works and letters of intent have been signed with development partners for the redevelopment of a 144-acre brownfield site known as Atlantic Steel in downtown Atlanta. Jacoby Development Inc. (JDI), Atlanta, initiated the project and is working closely with Atlantic Steel to remediate the soil and ensure that the site conforms to environmental standards. The active steel mill plans to close its doors early this year, and once the cleanup is concluded, groundbreaking on the redevelopment could begin as early as this fall.

JDI is joined by The Mills Corp., Arlington, Va., which plans to develop 1.2 million sq. ft. of retail and entertainment space; Houston-based Hines Interests Limited Partnership, which expects to build up to 5 million sq. ft. of office space; and Atlanta-based Post Properties, which will develop 2,400 housing units on the site. CRB Realty Associates Inc., an Atlanta-based real estate consulting firm, is involved in pre-development work on the project.

The retail and entertainment component of the project will be patterned after The Block at Orange in Orange, Calif., which opened in November. It is Mills' newest brand and will feature an open-air, Main Street design that incorporates full-price specialty retail shops with an expansive focus on entertainment, restaurants and upscale dining. It is scheduled to open in 2001. Plans for Mills' involvement on the Atlantic Steel project follow the company's recent announcement to develop Sugarloaf Mills in Gwinnett County, a northern suburb of Atlanta.

New York -- Several new projects by Brooklyn, N.Y.-based Forest City Ratner Cos., a unit of Cleveland-based Forest City Enterprises Inc., are in various development stages in metropolitan New York. Construction is under way on 42nd Street Project in Manhattan at Times Square. Housing Madame Tussaud's Wax Museum, a 25-screen AMC Theatre, a restaurant, retail shops and entertainment venues, the project plays an intregral part in the renovation of the heart of the theater district. It is expected to open this fall.

In North Bergen, N.J., work is under way on Columbia Park Center, a 335,000 sq. ft. regional center featuring Regal Cinemas, Circuit City, Old Navy, Staples and Shop Rite. It is expected to open in October.

Other projects the company is working on include Battery Park City, a 175,000 sq. ft. retail/entertainment center in lower Manhattan; The Heights, a 102,000 sq. ft. vertical retail center in Brooklyn; and Forest Avenue Cinemas, a 68,000 sq. ft. Regal Cinemas complex in Staten Island. All are expected to open in spring 2000.

Sydney, Australia -- Plans are in the works for a $240 million entertainment/retail/office complex in Sydney that will introduce to Australia the concept of entertainment centers anchored by megaplex movie theaters. A development of North Sydney-based JAGAR Property Group, the 1 million sq. ft. project -- The Entertainment Center at the Arnotts Biscuit Factory -- will feature a 12-screen Hoyts megaplex, Woolworth's food market, a fresh-produce market, restaurants, a microbrewery, three specialty retail anchors, two corporate office headquarters and an office penthouse concept within the retrofitted block of buildings. It also will include two levels of office space and six levels of subterranean and above-grade parking.

The Newport Beach, Calif., office of Long Beach, Calif.-based Perkowitz + Ruth Architects Inc. will direct the planning and design of the project, which is scheduled to open in conjunction with the summer Olympics in 2000. Sydney-based Saunders Architecture is the architect of record.

Rehoboth Beach, Del. -- Construction is nearing completion on Pelican Square, a 140,000 sq. ft. shopping center in Rehoboth Beach. Anchored by Staples, Super Fresh and Marshalls, the project is located next to Rehoboth Beach Outlet Center and is expected to draw both tourists and year-round resort residents when it opens in May. It is a development of Baltimore-based Talles & Robbins Development Co. KLNB Inc., Baltimore, is the leasing agent.

Redevelopments Newport, R.I. -- Redevelopment work is nearing completion on R.K. Newport Towne Center, formerly known as Newport Mall. The project, expected to be completed in April, involves the de-malling of an enclosed center into an open-air center with 280,000 sq. ft. of retail space. Tenants at the Newport center include Super Stop and Shop, T.J. Maxx, Jo Ann Fabrics, Blockbuster Video, Foot Locker, Waldenbooks and West Marine. Newton, Mass.-based R.K. Associates is the project's developer.

San Diego -- Redevelopment work is under way to turn Marketplace at the Grove in San Diego into a big-box, value-focused power center. Phoenix-based Vestar Development Co. is investing $60 million in the effort, which will result in 650,000 sq. ft. of space on approximately 56 acres. New tenants signed include Wal-Mart, Sam's Club and HomeBase. Remaining tenants include Mervyn's, Long's Drugs, Pic 'n' Save, Coco's Family Restaurant and The Grove Bowling Center. The project is expected to be completed in November.

Bayshore, N.Y. -- Construction has begun on Gardiner Manor Center in Bayshore. The $50 million redevelopment project will transform the obsolete Gardiner Manor Mall, which formerly housed Sears, into a 480,000 sq. ft. power center that will include Target, Old Navy, Staples, Barnes & Noble, Michaels and Modells. Existing tenants include King Kullen, Genovese and Sterns. Westport, Conn.-based Starwood Ceruzzi LLC is expected to finish the project this summer.

Center Openings State College, Pa. -- Nittany Commons, a 121,000 sq. ft. shopping center, recently opened in State College. Major tenants include Pep Boys, OfficeMax and Giant Food grocery store. The Woodmont Corp., Fort Worth, Texas, developed the center.

Brea, Calif. -- Stores will begin opening in March at Birch Street Promenade, a street retail and entertainment destination designed as the centerpiece of Brea's $100 million downtown revitalization. Two blocks of Birch Street have become a pedestrian promenade lined with shops and restaurants. Westwood, Calif.-based CIM Group developed six buildings comprising 80,000 sq. ft. of retail and restaurant space on the first level and rental lofts on the second and third levels. Another major component of the project is an Edwards Theatres complex with 22 screens. Other tenants will include Market City Cafe, Zen Zat Tea, Wolfgang Puck and Pottery Barn.

Expansions Hackensack, N.J. -- Riverside Square, a 635,331 sq. ft. regional mall in Hackensack, has received approval from the city planning board for a 23,000 sq. ft. expansion to house a seven-screen fine arts theater and cafe. Center manager Urban Retail Properties Co., an affiliate of Chicago-based Urban Shopping Centers Inc., is working in conjunction with the Angelika Film Center & Cafe, which is majority-owned by Reading Entertainment Inc., Philadelphia. The entertainment company is developing a nationwide chain of cinemas exhibiting art and independent and foreign films and featuring gourmet cafes and art galleries in the theater lobbies. These upscale entertainment centers are based on the original Angelika Film Center & Cafe, located in the SoHo district of New York. Completion has not yet been determined for the one at Riverside Square, which is anchored by Bloomingdale's and Saks Fifth Avenue.

Burnaby, British Columbia -- Metropolis, a 160,000 sq. ft. entertainment complex, recently opened at Eaton Centre Metrotown in Burnaby, located in the greater Vancouver area. The two-level expansion is anchored by Famous Players SilverCity, a 60,000 sq. ft., 10-screen multiplex; Playdium, a 37,000 sq. ft. enclosed area of technology-based interactive entertainment; and Superstar Universe, a 23,000 sq. ft. store providing athletic, street and outdoor footwear, apparel and accessories, and featuring a 40-meter track. Other tenants in the complex include Rainforest Cafe and Chapters bookstore. Toronto-based Cambridge Shopping Centres Ltd. owns and manages Eaton Centre Metrotown, which features approximately 1.4 million sq. ft. of GLA.

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