Development Plans Advanced for Southport Town Center.

Business Editors

SANTA MONICA, Calif.--(BUSINESS WIRE)--Oct. 31, 2002

-- 283,000-Square-Foot Lifestyle Retail Center is Joint Venture Between Watt Commercial Properties and West Sacramento Land Company --

Development and leasing activities are accelerating on the highly anticipated Southport Town Center in West Sacramento with construction scheduled to begin in April 2003, according to officials at Watt Commercial Properties which is leading the development.

"The popularity of the new home communities in Southport has quickly brought thousands of new residents to West Sacramento. Our center will provide them with daily needs retailers such as the Nugget Market, dry cleaner and other services along with a host of restaurants from quick-serve to casual dining in an open-air main street-style setting," said Jonathan Genton, vice president of development for Watt Commercial Properties.

Southport Town Center will be developed in two phases. The first phase of 140,000-square feet will include the 60,000-square-foot Nugget Market and 80,000-square-feet of retail and restaurant space. The new development is set around the historic Club Pheasant at the corner of Jefferson Boulevard and Lake Washington Street.

"Club Pheasant is a beloved icon for the city. Our center is designed to respect and honor its history and place in the community, and not overwhelm or detract from it," said Bryan Turner, president, West Sacramento Land Company.

The 27-acre site is bounded by Linden Road, Jefferson Boulevard and the planned extension of Lake Washington Boulevard. The Nugget Market and 16,000-square-feet of shops will be constructed along the Lake Washington Boulevard frontage with the remainder of phase one stretching along Jefferson Boulevard and mid-way down Linden Road. Development costs are estimated to be $41 million, exclusive of the Nugget Market which is being constructed separately.

Southport Town Center is a lifestyle/community center, a combination of daily needs services, shops and dining set around large public spaces that can become a gathering place for the community. Designed by architects RTKL Associates, the center will feature an internal pedestrian circulation much like a town square with wide walkways and outdoor plazas for dining or relaxing. Varying building heights and the use of different finishes will create a main street district. Artful fountains provide a tranquil setting while abundant landscaping will offer color and shade. The center's signature plaza, at the corner of Jefferson and Linden, is open to the street creating a view corridor and is flanked by a variety of restaurants. Discussions are underway with numerous potential tenants such as a coffeehouse, juice bar and sandwich shop along with larger casual dining establishments.

"We have had tremendous interest from restaurants and retailers that realize the potential of this large untapped market. This a central location to serve the new residents that currently have to travel several miles for any kind of services," Genton noted.

Southport Town Center is a joint venture between Watt Commercial Properties and the West Sacramento Land Company owned by the Turner Family of Sacramento. Over the years Watt Commercial Properties has developed more than five million square feet of retail projects and currently owns and manages 42 retail centers throughout the West.

Watt Commercial Properties is a leading developer, owner and manager of commercial real estate in California and Nevada. The company's portfolio includes more than eight million square feet of commercial and retail space.