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Goldenberg Group’s Whitman Square Opens This Fall

PHILADELPHIA, PA, September 1, 2004 The Goldenberg Group, Inc. announced today that Whitman Square, a 434,800 square foot retail site at 9701 Roosevelt Blvd (Grant Ave. & Roosevelt Blvd.) in Northeast Philadelphia, will begin to open this September with the entire collection of stores coming online throughout the Fall and early next year. “We are thrilled about the upcoming opening of Whitman Square, in the heart of the Northeast.” said Peter Farnum, senior vice president and director of leasing for The Goldenberg Group. Of the “power” shopping center, which has been 100% leased since last May, Mr. Farnum added. “We have put together a complimentary mix of the top regional and national retailers and restaurants. These tenants will offer convenience, brand name merchandise and fine services to the residents of this community.” The Goldenberg Group, with the opening of Whitman Square, has found a viable reuse for the former site of the Whitman’s Chocolate factory. The factory was largely unutilized for more than ten years before the Goldenberg Group began this latest redevelopment effort. The new shopping center is expected to add more than 1,000 permanent jobs and nearly $2 million annually in taxes to the City of Philadelphia. The store openings will follow the below schedule throughout this fall: September: Lowe’s, Circuit City, Petco, & Eckerd Drugs. October: Michaels Crafts, Longhorn Steakhouse and Champps Restaurant & Bar. November: Wal-Mart, Chick-Fil-A. The Goldenberg Group is a multifaceted real estate development company specializing in the development, leasing, design, construction and management of retail, commercial, and mixed-use properties. Areas of concentration include: retail and “power” shopping centers, center city “urban” projects, “community” revitalization projects, residential projects, and acquisitions for renovation and/or conversion. Headquartered in Blue Bell, Pa., Goldenberg owns and manages 4.5 million square feet of space with an additional 2.5 million square feet in various stages of development. With more than forty highly innovative, talented and experienced individuals; The Goldenberg Group is adept at conceiving of and successfully developing the largest and most complex real estate projects in the region.