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Goldenberg Group Completes Leasing at Whitman Square

PHILADELPHIA, PA, May 3, 2004

The Goldenberg Group, Inc. announced today that Phases I & II at Whitman Square are fully leased, with the recent signings of Office Max, Famous Footwear and Famous Dave’s. The 434,800 square foot site at 9701 Roosevelt Blvd. (Grant Ave. & Roosevelt Blvd.) in Northeast Philadelphia and scheduled to open by the fall of this year.

“We are thrilled to be 100% leased and to have put together a complimentary mix of the top regional and national retailers and restaurants at Whitman Square,” said Peter Farnum, Senior Vice President of Leasing and Broker for the Goldenberg Group. “Once opened, we will provide Northeast Philadelphia and its surrounding communities with a wide range of quality goods services and dining in one convenient location.”

This $45 million project is expected to add more than 1,000 permanent jobs and nearly $2 million annually in taxes to Philadelphia. Whitman Square is located at the former Whitman Chocolate factory, which closed in 1993. This industrial site had gone largely unutilized more than 10 years before this redevelopment effort.

When completed, Whitman Square will be home to Lowe’s, WalMart, Circuit City, Office Max, Michaels, Petco, Eckerd Drugs, Famous Footwear, Champps, Chick-fil-A, Longhorn Steakhouse and Famous Dave’s.

In addition to Whitman Square, the Goldenberg Group owns Columbus Commons, a 647,000 square foot center city “power” shopping center, which has Philadelphia’s first and only IKEA as well as Lowe’s, Best Buy and Linen’s-N-Things. Columbus Commons is now 97% leased with only two vacancies remaining. With this year’s completion of these two centers, The Goldenberg Group will bring Philadelphia nearly 1.1 million square feet of new shopping.