Weingarten Realty Breaks Ground on Surf City Crossing

New Shopping Center to Serve Area Residents and Bring Jobs to the Community

• Press Release
• Source: Weingarten Realty
• On 5:33 pm EDT, Wednesday September 23, 2009

SURF CITY, N.C.--(BUSINESS WIRE)--Weingarten Realty (NYSE:WRI - News) announced today that the company broke ground on a new 70,000 square foot shopping center. Named Surf City Crossing, Mayor Zander Guy and member of the Greater Topsail Area Chamber of Commerce and Tourism helped celebrate the start of construction on the 70,505 square foot shopping center. The new center is expected to open in late 2010.

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Sitting conveniently at the intersection of U.S. Highway 17 and NC Highway 210, Surf City Crossing is strategically located 20 miles northeast of Wilmington, and 20 miles southeast of Jacksonville, and will serve the growing markets of Surf City, Topsail Island and Hampstead, N.C. Anchored by Harris Teeter supermarket, the center is designed to house 11 more businesses, and will serve a thriving population of almost 40,000 residents.

“This region along the North Carolina coastline is a popular tourist destination, and home to an increasing number of fulltime residents,” said Ken Hocker, regional development director for Weingarten Realty. “This center sits at the crossroads of two of the area’s most heavily traveled highways. It is in a great location, with a top quality anchor which makes us confident that it will become the prime shopping destination for Surf City shoppers.”

Mayor Zander Guy and Pam Honeycutt of the Greater Topsail Area Chamber of Commerce were on hand to welcome Weingarten representatives to Surf City, and to turn the first shovels of dirt on the new project.

“The bigger story here is more than a new shopping center groundbreaking,” noted Mayor Guy. “Surf City Crossing will bring growth and development into the Topsail area. More importantly, it will bring new jobs into our community.”

The shopping center portion of the development is phase one, notes Hocker. “Once we complete construction on the retail space, plans call for development of a luxury apartment complex right behind the center,” he said.

Photos of the groundbreaking are available upon request.

About Weingarten Realty Investors:

Weingarten Realty Investors (NYSE:WRI - News) is a commercial real estate owner, manager and developer. At June 30, 2009, the company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 378 developed income-producing properties and 24 properties under various stages of construction and development. The total number of properties includes 318 neighborhood and community shopping centers located in 22 states spanning the country from coast to coast. The company also owns 81 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties located in Arizona and Texas. To learn more about the company's operations and growth strategies, please visit http://www.weingarten.com.

Weingarten Realty
Marketing Manager
Carrie Murray, 713-866-6959