Excel Legacy Corp. Announces Groundbreaking Event for Its New San Diego Headquarters.SAN DIEGO--(BUSINESS WIRE)--Oct. 30, 1998--Excel Legacy Corp. (OTC/Nasdaq:XLCY) announced today that the company will begin construction on its new corporate headquarters in Rancho Bernardo at a groundbreaking ceremony to be held on Friday, Nov. 6, 1998 at 9:30 a.m. The new corporate headquarters site, called Excel Centre, is located at the highest profile corner in Rancho Bernardo, adjacent to the Rancho Bernardo Library in the Park Terrace shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into . The new building will be prominently seen from Interstate 15 and from other viewpoints within the community. Excel Centre will serve as the headquarters of Excel Legacy Corp. and the west coast headquarters of New Plan Excel Realty Trust, one of the largest community shopping center companies in the nation. "I am thrilled that two such prominent national real estate companies have selected San Diego to be their corporate headquarters," said San Diego City Councilmember Barbara Warden. "It's only fitting that the building would be named as a center of real estate excellence housing these two high profile companies." "We are equally excited to reaffirm San Diego as Excel Legacy's corporate headquarters," said Gary B. Sabin Sa·bin , Albert Bruce 1906-1993. American microbiologist and physician who developed a live-virus vaccine against polio (1957), replacing the killed-virus vaccine invented by Jonas Salk. , president and chief executive officer of Excel Legacy Corp. "Our new building will serve as the beacon of new business opportunities in San Diego, for our shareholders and our employees alike." Excel Legacy Corp., owner and developer of the 84,500 square foot Excel Centre building, is a public real estate company organized to create value through the acquisition, development and management of real property and real estate related operating companies. The company is actively pursuing a variety of real estate opportunities including among others the development of long-term, mixed-use, retail/entertainment projects and investing in properties requiring significant restructuring or redevelopment. Other San Diego properties owned by Excel Legacy Corp. include 11.1 acres of land in the 4-S Ranch Business Park. New Plan Excel is a Real Estate Investment Trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) that owns and manages 297 retail properties with over 38 million square feet of retail space in 31 states. The company has a total capitalization Total capitalization The total long-term debt and all types of equity of a company that constitutes its capital structure. total capitalization See capitalization. of over $3 billion, with 88 million outstanding shares on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors NXL NXL National XBall League NXL Network Exchange Limited . |
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