HomeGoods Signs Lease with Kramont Realty Trust for The Mall at Cross County

Business Wire, July 18, 2000

Business Editors

PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)--July 18, 2000

Kramont Realty Trust (NYSE:KRT) today announced the signing of a lease with HomeGoods for a 22,175 square foot store in The Mall at Cross County, Yonkers, New York.

Construction of the new store will begin within the next few weeks, with an anticipated opening in the late fall of this year.

HomeGoods is a chain of over 50 off-price home fashion stores owned by The TJX Companies, Inc. They offer an exciting and rapidly changing selection of home decor merchandise, including giftware, domestics, rugs, bed and bath accessories, lamps and seasonal merchandise at great values.

TJX, the parent company of HomeGoods, operates several large retail chains such as Marshalls, T.J. Maxx, T.K. Maxx, Winners and A.J. Wright.

"We are pleased that The TJX Companies has decided to open a HomeGoods store in The Mall at Cross County in addition to their T.J. Maxx store, which has proven popular with area shoppers. Our mall is the ideal location for this type of retailer because of its reputation for offering products and services most needed and wanted by area residents" said Louis P. Meshon, Sr., president of Kramont Realty Trust. "With the addition of HomeGoods, The Mall at Cross County is now 100% leased", he added.

The Mall at Cross County, located at 750 Central Park Avenue in Yonkers, New York, is a 265,000 square foot two-level enclosed mall featuring major tenants such as Circuit City, The Sports Authority, T.J. Maxx, Kids "R" Us and National Wholesale Liquidators.

Kramont Realty Trust is a self-administered, self-managed equity UPREIT specializing in neighborhood and community shopping center acquisitions, leasing, development and management. Kramont owns and operates 90 properties encompassing approximately 12 million square feet of leasable space in 16 states.

Detailed information regarding Kramont Realty Trust and its properties can be found on its World Wide Web site at http://www.kramont.com.