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THE LIGHTSTONE GROUP'S NEW JERSEY MALLS HOSTS WALGREEN'S GRAND RE-OPENING CEREMONIES

LAKEWOOD, N.J., Oct. 5 /PRNewswire/ -- The Lightstone Group today announced that Walgreen's Pharmacy has completed interior upgrades and store re-merchandising to the stores it purchased from the Drug Fair group back in May of this year.

The stores held their grand re-opening and promotions at The Millburn Mall located in Union, N.J. and the Browntown Shopping Center in Old Bridge, N.J.

Both centers were purchased from the Cantor family in 2003 and recently completed multi-million dollar renovations. Millburn's occupancy is at 98% and has a national tenant presence with retail outlets such as Staples, Five Guys Burgers and Fries, Subway, opening November 15, and of course, Walgreen's, the latest addition to the tenant roster.

The Browntown property also added 7-11 to it already impressive list of occupants.

"The renovation was a key ingredient in the recipe for the successful re-development," said Jeff Dash, vice president of leasing for The Lightstone Group. Dash has been with the properties since 1993 and has seen them go full circle. He notes, "They are stronger than ever, given today's economic climate."

To learn about leasing opportunities at Millburn Mall and the Browntown Shopping Center or throughout The Lightstone Group portfolio of retail properties, contact Jeff Dash at (908) 668-8300 or jdash@lightstonegroup.com.

About The Lightstone Group

The Lightstone Group is one of the country's largest privately held real estate companies with interests in residential, office, retail, hospitality and industrial real estate assets. Principally through its operating entities including Prime Retail, Prime Group Realty Trust and Beacon Management, the company owns a diversified portfolio of more than 19,000 multifamily units and 24 million square feet of office, industrial, hotel and retail properties in 27 states, the District of Columbia, and Puerto Rico. Headquartered in New York, The Lightstone Group has approximately 1,150 employees and maintains regional offices in Maryland, Illinois and New Jersey. For more information, visit www.lightstonegroup.com.

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