central Islip shopping center approved, financed and anchored.

Town Center at Central Islip, a 267,000 square-foot shopping center that will fill a huge retail void in the Long Island community of Central Islip, is on line for groundbreaking in June and completion by Fall of 2000.

Town Center, being developed by J.D. Carlisle Development Corp., is located in the heart of one of Long Island's strongest new commercial corridors, and is approved, financed and anchor leased.

"Town Center at Central Islip comes on the heels of over $500 million in public and private development already invested in this growing community," said David Green of Insignia/ESG, development and leasing consultant for the project. Gene Spiegelman of Retail Development Partners, exclusive leasing agent, added "With financing in place, zoning approval in hand, and two anchor tenants secured, Town Center at Central Islip is poised to be a great retail development success story in Suffolk County."

Spiegelman and Green said that leases with two anchor tenants - an 80,000 square-foot multiplex theater and a 50,000 square-foot supermarket - are out for final execution at this time. Just last month, Town Center at Central Islip received financing from The Union Labor Life Insurance Company, based in Washington, D.C. Additionally, 130,000 square feet of retail and restaurant space is currently being leased.

Town Center at Central Islip, located at Exit 43A off the Southern State Parkway on Carleton Avenue, a major North-South thoroughfare for Western Suffolk County, complements nearly 2.2 million square feet of commercial development on the grounds of the former 684-acre Central Islip psychiatric hospital. Highlights include the new 870,000 square-foot Federal Court building; nearly 800,000 square feet of industrial space; and the 500,000 square-foot Suffolk County Courthouse Complex. Adding to the critical mass, Central Islip is home to the New York Institute of Technology, the new Touro College of Law, and most exciting, a 6,000-seat minor league baseball park, future home to the Long Island Ducks, which is scheduled to break ground in May 1999.

The immediate area boasts nearly 7,000 employees and students, and 100,000 residents in 30,000 households within a three-mile radius, having a median household income exceeding $62,000 per annum.

"Town Center in Central Islip provides tremendous opportunity for retailers to profit from a densely populated residential community and a very significant business hub that is presently not being serviced by any first class retail destination," said Spiegelman. "The project is positioned to service a number of consumers simultaneously - local residents, neighboring businesses, students and faculty, sports fans and those coming to experience state-of-the-art theater entertainment."