PASTER ENTERPRISES SECURES LEASE, PLANS FOR RETAIL CENTER EXPANSION

MENDOTA HEIGHTS, MINN. — Walgreens Co. has signed a long-term lease within St. Paul-based Paster Enterprises’ Mendota Plaza shopping center located in Mendota Heights. The 14,820-square-foot freestanding out-lot building will be completed by spring 2010. The new building is part of a complete redevelopment and expansion of Mendota Plaza, which is expected to commence in the spring. Plans for the development call for updating the existing center, as well as adding two new buildings for restaurants and retail space. Future phases of the project call for the addition of office space, housing and a child care center facility. Tenants at the center will remain open during the first phase of construction, which will increase the development from 54,983 square feet in size to 77,403 square feet in size. Additional terms of the lease to Walgreens as well as the cost of completion for the project were not disclosed.