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Casto Announces Second Phase at Cincinnati Lifestyle Project
Tuesday, May 17, 2005
Regal Cinema To Anchor Deerfield Towne Center's Village Square
Columbus, Ohio — Casto, one of the country’s leading real estate organizations, today announced plans for the second phase of Deerfield Towne Center, a nearly 400,000 square foot lifestyle center in Cincinnati, Ohio. Known as Village Square, this second phase will consist of 150,000 square feet of additional commercial and retail space as well as a 150 unit brownstone condominium development. The commercial component will be anchored by a 66,000 square foot, 16-screen, state-of-the-art Regal Cinema, which is their first location in the Cincinnati market. Village Square is scheduled to open fall 2006. Upon completion of the Village Square phase, Deerfield Towne Center will be home to 550,000 square feet of lifestyle merchants, including Regal Cinema, Wild Oats, Bed Bath & Beyond, Borders Books & Music, Dick’s Sporting Goods, Gold’s Gym, Talbots, Ann Taylor Loft, New York & Company, White House/Black Market, Coldwater Creek, Mimi’s Café, Abuelo’s Mexican Food Embassy, Panera Bread, Macaroni Grill, Aveda Salon, Bombay, Sharper Image, Arhaus Furniture, Ovation Audio/Video and others. The expansion of Deerfield Towne Center fits well with Casto’s growth strategy plans and strengthens its presence in the Cincinnati, Ohio market, which it entered in 2001 with the acquisition of over 1.5 million square feet of shopping centers. According to partner Don Casto, “Deerfield Towne Center will be is the first self-contained mixed-use development in southern Ohio that provides amenities where residents can live, work, shop, dine and enjoy on-site entertainment. Mixed-use developments tend to reduce the need for multiple trips and diminish dependencies on vehicular transportation.” Deerfield Towne Center is located in one of Cincinnati’s most affluent and desirable communities and is just off Interstate 71 on Mason-Montgomery Road. Located just 1/4 mile west of Deerfield Towne Center is one of Cincinnati’s premier residential developments, The Long Cove Community, which will host Cincinnati’s 2005 Home-A-Rama with home prices ranging from $1.5M to $2M dollars. Phase I of Deerfield Towne Center opened August 1, 2004 and is 97% occupied. Village Square has additional space available for retail, restaurant and entertainment merchants to join this successful lifestyle project. Deerfield Towne Center is a joint project of Casto and Jeffrey R. Anderson Real Estate, Inc., a nationally prominent developer of lifestyle centers based in Cincinnati. Jeffrey R. Anderson Real Estate has nearly five million square feet of commercial real estate property, including Rookwood Commons & Pavilion, another lifestyle center in Cincinnati. 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.

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