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Rappaport Press Release

Leasing Activity Heats Up at Penn Mar Shopping Center

Forestville, Maryland

1/25/2010

Ledo Pizza, Subway and Fresh Scents recently signed leases to relocate their businesses at Penn Mar Shopping Center in Forestville. Additionally, Weight Watchers has signed a new lease for 2,000 square feet.

"The Ledo Pizza, Subway and Fresh Scents businesses have been closed since last May, when a section of the center was damaged by a gas explosion," explained John H. Hayden, The Rappaport Companies' Senior Director of Leasing "We are thrilled to be able to relocate these merchants within Penn Mar," he added.

Ledo Pizza, a pizzeria specializing in thin crust, rectangular shaped pizzas, has increased their square footage from 2,000 square-feet to 3,000 square-feet. Ledo Pizza offers an array of menu items such as salad, soup, pasta and hamburgers. Now located between T-Mobile and Penn Mar Liquors, Ledo Pizza is set to reopen in March.

Offering a healthy alternative to traditional fast food for health conscious consumers, Subway has leased 1,800 square-feet next to A1-Pawnbrokers. Subway salads and wraps are made with a wide variety of meats, cheeses, vegetables and toppings. All Subway sandwiches are made to order on freshly baked bread. Melissa Webb and Pat O'Meara of Rappaport Retail Brokerage represented Subway. The Rappaport Companies represented the landlord. Subway is now open.

Each leasing 2,000 square feet, Fresh Scents, a fragrance shop and Weight Watchers will be located next to each other in the former SunTrust Bank space. Shary Thur of Thur & Associates represented Weight Watchers, John Hayden of The Rappaport Companies represented the landlord. Located between Five Guys and The Avenue, Fresh Scents and Weight Watchers will open later this spring.

Reconstruction of the stores that were damaged by the gas explosion continues. The wing of affected stores has been torn down, and The Rappaport Companies has submitted all building permits. According to Larry M. Spott, Rappaport's Executive Vice President of Development, construction should begin in February. The new space should be available for occupancy sometime this summer.

Penn Mar Shopping Center is located on Pennsylvania Avenue and Donnell Drive in Forestville. The 387,028-square-foot shopping center is anchored by Burlington Coat Factory, Shoppers Food Warehouse and Marshalls. It features more than 50 stores, restaurants and service merchants. The center is owned by Penn Mar Associates, LLC and is managed by The Rappaport Companies of McLean, Va.

The Rappaport Companies owns and develops shopping centers and provides retail leasing, tenant representation, property management, construction management, development, consulting and receivership services for retail space in shopping centers and mixed-use properties throughout the Washington, D.C./Baltimore area. Headquartered in McLean, Va., The Rappaport Companies’ portfolio totals more than 12 million square feet of existing and future retail space in urban and suburban locations owned by affiliates of Rappaport and by many local and institutional clients.