Wegmans Food Markets Has Started Construction at The Village at Leesburg

Business Wire, Sept 9, 2008

LEESBURG, Va. -- Developers, Cypress Equities and Kettler, announced today Wegmans Food Markets, Inc. has started construction at its new location at The Village at Leesburg located on the southwest corner of River Creek Parkway and Route Seven in Leesburg, Virginia.

Wegmans Food Markets, Inc. is a 71-store supermarket chain with stores in New York, Pennsylvania, New Jersey, Maryland and Virginia. The family-owned company, founded in 1916, is recognized as an industry leader and innovator. Wegmans has been named one of the "100 Best Companies to Work For" by FORTUNE magazine for eleven consecutive years, ranking #3 in 2008. Known for its fresh produce, restaurant-quality prepared foods, artisan breads, consistent low prices and incredible customer service, Wegmans will count the Leesburg store as its sixth in Virginia, following the opening of a store in Gainesville later this year and one in Fredericksburg in June 2009.

The 140,000 square foot Wegmans is expected to open in November of 2009 and will be joined by other major tenants including Coldwater Creek, LA Fitness, Books-A-Million, Eggspectation, Potomac River Running, Neibauer Dental, Crystal Bright Cleaners and Wachovia Bank. Additionally, there is a strong commitment from a number of local and regional retail stores plus several premium national specialty retailers along with premier restaurants new to the area.

"We are pleased with the way the tenant lineup is progressing for the project and Wegmans is an important part of that success," stated Jeff Coker, Managing Director of Cypress Equities. "We want to create a sense of place - where people can dine, live, work and shop."

The Village at Leesburg is a 1.2 million square foot vertically-integrated, four-story village consisting of residential, retail, restaurants and office. Cypress Equities will develop the retail portion of the project, while Kettler will develop the office and residential components of the project including 335 luxury apartments. Encompassing traditional planning and design characteristics with an upscale urban feel, The Village at Leesburg will be a welcome destination for residents of the Washington, DC metropolitan area.

About Cypress Equities

Cypress Equities was founded in 1995 and is headquartered in Dallas, Texas. Cypress is the retail, resort and mixed-use development affiliate of the Staubach Company. Through its seven development offices, Cypress is currently developing over $3 Billion in projects throughout the U.S. and Caribbean. Cypress is currently under construction on developments across the country consisting of community & power centers as well as vertically integrated mixed-use villages incorporating retail, residential, hotel and office. Visit www.cypressequities.com for more information.

About Kettler

Founded by Robert C. Kettler in 1977, Kettler is among the largest private real estate and property management companies based in the DC metro area and one of the nation's top 20 multifamily developers. Kettler was awarded the 2008 Pillars of the Industry Award for Property Management Company of Year by the National Association of Homebuilders. The firm's diverse business model has led to the delivery of five million square feet of commercial space and over 50,000 homes in its master-planned communities and condominiums. Kettler's apartment portfolio includes high-end, market rate, affordable and fee managed assets. Currently, Kettler is developing commercial, resort and transit-oriented mixed-use projects. www.KETTLER.com