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Lerner and Tower will Develop Dulles 28 Centre

Dulles, Virginia, November 10, 2004 – Lerner Enterprises and The Tower Companies are pleased to announce that they will develop Dulles 28 Centre, a 300,000 square foot shopping center in Dulles, Loudoun County, Virginia. Lerner Enterprises and The Tower Companies both of North Bethesda, Maryland will jointly develop the center. Construction will begin in Summer 2005.

This lifestyle shopping center is strategically located at the new grade separated interchange of Routes 28 and 625 (Waxpool Road) directly opposite AOL's Dulles headquarters. This is the second phase of development for Dulles 28 Centre. The center is anchored by an existing 135,000 square foot Wegmans Food Market that opened in February 2004. New in-line stores, including mini-anchor stores and restaurants will complete the merchant mix.

"Dulles 28 Centre sits right in the middle of one of the nation's fastest growing commercial and residential areas. The center will provide customers with a remarkable offering of retail and services. We are pleased with the overwhelming positive merchant response to the design and layout of the center and look for a speedy lease up and delivery" said Arthur N. Fuccillo, Managing Director of Development for Lerner Enterprises.

Also located within Dulles 28 Centre will be a Residence Inn by Marriott (ResidenceInn.com), a 151-suite hotel purpose-built to extended stay travelers, which will open in Fall 2005 and will be known as the Residence Inn - Dulles Airport. The Dulles 28 Centre location offers guests of the Residence Inn - Dulles Airport convenient access to the Washington Metropolitan Area's larges business, retail and leisure centers, including Tysons Corner, Dulles Town Center, Reston Town Center, Leesburg and Washington, D. C. In addition, Dulles 28 Centre is just a short distance away from the new National Air and Space Museum's Steven F. Udvar-Hazy Center, the companion facility to the National Air and Space Museum's building on the National Mall in Washington, D. C. Marriott International of Washington, D. C. will operate the Residence Inn-Dulles Airport.

Dulles 28 Centre, located three miles from Washington Dulles International Airport, is within minutes of Dulles' technology corridor and many area companies, including American Online, EDS, Cisco System, Xerox and MCI. Dulles 28 Centre is in the heart of large population base with exceptionally high purchasing power.

Loudoun County boasts:

  • The fastest growing county in the country
  • Third wealthiest county nationwide
  • Fifth largest job growth in the county
  • Average household income of $126,102
  • 40% of the population is between 25-44 years of age
The 300-acre development includes:
  • Residence Inn - Dulles Airport hotel is under construction and will open in Fall 2005.
  • Wegmans Food Market opened February 2004. Headquartered in Rochester, New York, Wegmans Food Markets, Incorporated, boasts $3.3 billion in annual sales in 2003. Wegmans operates 66 stores: 51 in New York State, 10 in Pennsylvania, 4 in New Jersey and 1 in Virginia.
  • Future site of Bear National Golf Club at Dulles 28 Centre, a Nicklaus Design 18-hole championship golf course. Bear National will feature a Nicklaus Academy, a year-round training academy with covered and heated tee stations, club fitting center, video and computer technology, 2,000 square foot golf shop and more. The golf academy is scheduled to open in Summer 2005 and the golf course is scheduled to open in Summer 2006.
  • Loudoun Dulles 28 Centre Auto World includes:
    • BMW of Sterling
    • Brown's Nissan
    • Don Beyer Volvo
    • Ferrari/Maserati
    • CarMax

Dulles 28 Centre will be designed by Bignell, Watkins & Hasser Architects of Annapolis, Maryland. Lerner Corporation of North Bethesda, Maryland will provide leasing and management services for the project.

Lerner Enterprises, founded by Theodore N. Lerner, is based in North Bethesda, Maryland and is one of Washington, 
D. C.'s largest real estate developers. The company is involved in all phases of commercial and residential real estate including planning, development, construction, leasing, and asset management and property management. Lerner Enterprises has developed and currently manages through its leasing and management affiliate, Lerner Corporation, more that 15 million square feet of office, retail and residential space. Lerner retail projects include White Flint and Dulles Town Center malls, The Spectrum at Reston Town Center and North Point Village Center in Virginia and Annapolis Harbour Center, Fallsgrove Village Center and Towne Plaza in Maryland.

The Tower Companies commitment to creating successful communities and workplaces has been Tower's driving force for over 50 years. Founded by Albert Abramson, The Tower Companies are a national leader in the development of high-tech, environmentally friendly "smart/green" buildings. Local Tower sites of note are The Tower Building at Tower Oaks Park off I-270 in Rockville, White Flint Mall, Bethesda Place and a headquarters building for MCI. The Tower Companies also developed River Creek, a 1,200 home, gated golf course community on the Potomac River in Loudoun County, Virginia.

Additional information on Dulles 28 Centre is available at Dulles28Centre.com
Additional information on The Tower Companies is available at TowerCompanies.com