CLEVELAND--(BUSINESS WIRE)--Nov. 5, 2002--
- Openings include Harlem Center and Woodbridge Crossing, New
- Expansions include the Promenade in Temecula, Temecula,
California and the Galleria at Sunset, Henderson, Nevada.
Forest City Enterprises, Inc. (NYSE:FCEA) (NYSE:FCEB) today
announced the opening of two retail centers and the expansion of two
other regional malls in the third quarter of 2002.
The four properties are:
Harlem Center, a 126,000-square-foot retail center, opened in
Manhattan, New York. Current Harlem Center retailers include
CVS/Pharmacy, Marshall's and Staples. The retail center is part of an
$80 million mixed-use project being developed by Forest City and its
partner on land leased from the Empire State Development Corp. in
central Harlem. All total, Harlem Center will include retail and
office space of approximately 271,000 square feet. Two New York state
government agencies will be anchor tenants of a new Harlem Center
office building, which is scheduled to open in early 2004.
"We are proud to be part of the continuing resurgence of Harlem,"
said Charles A. Ratner, president and chief executive officer of
Forest City Enterprises. "Harlem Center will continue to be a source
of much-needed jobs, and a hub of economic activity helping Harlem to
reach its full, dynamic potential. Consistent with our comprehensive
`City Strategy,' we are pleased to have such an active role in the
economic development of all five New York boroughs, as well as key
The Woodbridge Crossing is a 284,000-square-foot retail center
located in the high-growth New York City suburb of Woodbridge
Crossing, New Jersey. Major tenants of the mall include The Great
Outdoors, Linens-N-Things, Circuit City, and Thomasville Furniture.
The expansion of the Promenade in Temecula included the addition
of Macy's as a fourth anchor, joining JCPenney, Robinsons-May and
Sears - which brings the total square feet of the mall to 1,040,000.
The expansion of the Galleria at Sunset included the addition of
37,000 square feet of specialty shop space and an 84,000-square-foot
Gaylan's sporting goods store. Other major tenants of the mall include
Dillard's, Robinsons-May, Mervyn's and JCPenney. The mall now has a
total of 1,012,000 square feet.
Forest City Enterprises, Inc. is a $4.7 billion NYSE-listed real
estate company headquartered in Cleveland, Ohio. The Company is
principally engaged in the ownership, development, acquisition and
management of commercial and residential real estate throughout the
United States. The Company's portfolio includes interests in retail
centers, apartment communities, office buildings and hotels. The
Company's target markets include Boston, Denver, New York, California
and Washington, D. C.
Forest City Enterprises, Inc.
Thomas G. Smith, 216/621-6060
Thomas T. Kmiecik, 216/621-6060
On The Web: www.fceinc.com