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Casto Acquires Ownership Interest in Cincinnati Shopping Center
Thursday, January 20, 2005
Arbor Square Added to Growing Portfolio
Columbus, Ohio — Casto, one of the country's leading real estate organizations, announced the recent purchase of 50% ownership of Arbor Square shopping center in Mason, Ohio. Arbor Square is a 48,690 square foot retail shopping center with three outparcels located at the intersection of Socialville-Foster and Mason- Montgomery Roads. The first phase of the center was completed in 2003. The interest was purchased from Arbor Square LLC on December 6, 2004. The center is currently 97.1% leased with one 1,400 square foot storeroom available in the five-tenant outparcel building that fronts Mason-Montgomery Road. Key tenants include Complete Petmart, Hallmark, Half-Price Books, Bruegger's Bagels, Moe's Southwest Grill, McDonald's and Wendy's, as well as an adjacent Kroger. In addition to the existing retail, the center has 4.2 acres of out-parcel land and up to nine acres of land for the development of future retail space. Casto will be responsible for the day-to-day operations of the center, while joint-venture partner Terra Firma, one of the center's original developers, will provide leasing services. According to partner Don M. Casto, III, "Arbor Square's strong location and tenant mix fit well with our growth strategy and strengthens our retail presence in the Cincinnati market. With our 2001 acquisition of over one million square feet in the Cincinnati market, our 425,000 square foot Deerfield Towne Center development with Jeffrey R. Anderson Real Estate, Inc. and several other interests, our ownership in the greater Cincinnati area has grown to over 1.5 million square feet. Greater Cincinnati has been and will continue to be an important area of our company's growth with future acquisitions as well as the ongoing development at both Arbor Square and Deerfield Towne Center. We plan to remain focused on new development, individual asset and portfolio acquisitions, redevelopments and 1031 exchanges in areas such as southwestern Ohio, northern Kentucky, North and South Carolina, and Florida." Casto, a fully integrated real estate organization since 1926, is a recognized leader in the ownership, management, acquisition and development of commercial shopping centers and multi-family residences, office buildings and corporate parks. Casto's growing portfolio currently includes over 19 million square feet of commercial property and nearly 7,000 residential units located primarily throughout the midwestern United States and southwest Florida. Casto's current Cincinnati centers include:

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