8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) August 8, 2005

DEVELOPERS DIVERSIFIED REALTY CORPORATION

(Exact name of registrant as specified in its charter)

Ohio	1-11690	34-1723097
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

3300 Enterprise Parkway, Beachwood, Ohio	44122
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (216) 755-5500

__________________________________________________________________________________
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Exhibit 99.1 News Release for Sale of Office Dated Aug 8, 2005

Exhibit 99.2 News Release for Acquisition Dated August 8, 2005

Exhibit 99.3 Portfolio Information

Item 7.01 — Regulation FD Disclosure

On August 8, 2005, the Company issued a News Release announcing the sale of its office and industrial portfolio (the “News Release — Sale of Assets”), a News Release announcing the acquisition of Mervyns Real Estate Portfolio (the “News Release — Acquisition of Assets”) and a supplement containing property information of the Mervyns Real Estate Portfolio (“Portfolio Information”). A Copy of the News Releases are attached hereto as Exhibit 99.1 and Exhibit 99.2 and a copy of the Portfolio Information is attached hereto as Exhibit 99.3. This information is being furnished under Item 7.01 (Regulation FD Disclosure), pursuant to SEC Release No. 33-8216. This information is provided on the Company’s website at www.ddr.com.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Developers Diversified Realty Corporation
	(Registrant)
Date August 8, 2005	/s/ William H. Schafer
	William H. Schafer Senior Vice President and Chief Financial Officer

EX-99.1

AIP Exhibit 99.1

Contact: Michelle M. Dawson
Vice President – Investor Relations
Developers Diversified Realty
216.755.5455

Developers Diversified Realty Announces Sale of
Office and Industrial Portfolio

Cleveland, OH, August 8, 2005 — Developers Diversified Realty (NYSE: DDR) announced it has entered into an agreement to sell 25 office and industrial properties to Brascan Real Estate Opportunity Fund (BREOF), an investment fund launched by Brascan Corporation (NYSE/TSX: BNN) for $177 million, comprised of $170 million in cash and $7 million in subordinated equity. The transaction is expected to close in late September. Proceeds from the sale will be used to fund Developers Diversified’s acquisition of the real estate underlying 36 open and operating Mervyns stores, which the Company also announced today.

Developers Diversified acquired the office and industrial buildings that are under contract through its merger with American Industrial Properties in May 2001. The American Industrial Properties portfolio consisted of 31 industrial buildings, six office properties, two retail properties and approximately 24 acres of raw land.

Since the merger, Developers Diversified sold seven properties and one land parcel with gross proceeds aggregating over $32 million. This transaction disposes of all remaining industrial and office assets from the American Industrial Properties transaction, except for one property held in a joint venture, one property (comprised of three individual assets) which the Company is precluded to sell by the terms of the issuance of Developers Diversified operating partnership units in connection with the original acquisition, and one very small property located in the Company’s hometown. The Company will continue to own and operate the two retail properties located in Denver, CO and Daytona Beach, FL.

Scott Wolstein, Developers Diversified’s Chief Executive Officer and Chairman of the Board, commented, “I am pleased to announce the pending sale of a substantial portion of our office and industrial assets. This disposition demonstrates our patience and focus on an orderly disposition that has ultimately realized full value for these properties. Based on an analysis of our investment in American Industrial Properties, we estimate that we have earned an unleveraged return of approximately 10%, or a leveraged return of approximately 16%.”

Developers Diversified will conduct a conference call and an audio webcast on Tuesday, August 9, 2005 at 10:30 a.m. EDT. To access the conference call, dial 888-396-2356 at least ten minutes prior to the scheduled start of the call. When prompted, provide the access code: 16504431. The conference call will be recorded and available for replay beginning at 12:30 p.m., August 9, 2005 and will be available until 11:59 p.m., September 8, 2005. To access

the conference call recording, please call 888-286-8010 and use the access code: 58450771. The conference call will be webcast by CCBN, www.ccbn.com , and can be accessed via the DDR web site, www.ddr.com.

Including the Mervyns portfolio acquisition, Developers Diversified owns or manages over 500 operating and development retail properties in 44 states, plus Puerto Rico, comprising over 110 million square feet. Developers Diversified is a self-administered and self-managed real estate investment trust (REIT) operating as a fully integrated real estate company which develops, leases and manages shopping centers. You can learn more about Developers Diversified on the Internet at www.ddr.com.

Brascan Real Estate Opportunity Fund was established by Brascan Corporation to invest opportunistically in commercial real estate in North America. Brascan Corporation is an asset management company, with a focus on property, power and infrastructure assets. The Company has $40 billion of assets under management, including 70 premier office properties and over 130 power generating plants. The Company is listed on the New York and Toronto stock exchanges under the symbol BNN. For more information, please visit the Company’s web site at www.brascancorp.com

Developers Diversified Realty Corporation considers portions of this information to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934, both as amended, with respect to the Company’s expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause the results of the Company to differ materially from those indicated by such forward-looking statements, including, among other factors, local conditions such as oversupply of space or a reduction in demand for real estate in the area, competition from other available space, dependence on rental income from real property, the loss of a major tenant, constructing properties or expansions that produce a desired yield on investment or inability to enter into definitive agreements with regard to our financing arrangements or our failure to satisfy conditions to the completion of these arrangements. For more details on the risk factors, please refer to the Company’s Form on 10-K as of December 31, 2004.

ATTACHMENT:

OFFICE AND INDUSTRIAL DISPOSITION PORTFOLIO

				OFFICE/
	PROPERTY NAME	CITY	STATE	INDUSTRIAL	GLA
1	Gateway West	Phoenix	AZ	Industrial	155,587
2	Washington Business Park	Phoenix	AZ	Industrial	137,121
3	Winter Park Business Center	Orlando	FL	Industrial	119,883
4	1881 Pine Street	St. Louis	MO	Office	107,548
5	Meridian Street Warehouse	Dallas	TX	Industrial	72,072
6	Valwood II Business Center	Dallas	TX	Industrial	52,452
7	Beltline Business Center	Dallas	TX	Office	60,245
8	Carpenter Center	Dallas	TX	Industrial	46,473
9	Northgate II – 5, 6, 7, 8	Dallas	TX	Industrial	237,063
10	Northgate III – 7, 8, 9, 10, A, C	Dallas	TX	Industrial	257,700
11	Shady Trail Business Center	Dallas	TX	Industrial	68,043
12	Valley View Com. Park	Dallas	TX	Industrial	139,398
13	Carrier Place	Dallas	TX	Industrial	83,520
14	DFW North	Dallas	TX	Industrial	74,704

				OFFICE/
	PROPERTY NAME	CITY	STATE	INDUSTRIAL	GLA
15	Commerce Center	Houston	TX	Industrial	296,400
16	Commerce Park North	Houston	TX	Industrial	88,314
17	Plaza Southwest	Houston	TX	Industrial	151,898
18	Technipark Ten Service Center	Houston	TX	Industrial	71,647
19	Westchase Park	Houston	TX	Industrial	47,702
20	Gateway – 5, 6	Dallas	TX	Industrial	79,029
21	Parkway Tech Center	Dallas	TX	Industrial	69,547
22	Greenbrier Technology Center	Norfolk	VA	Industrial	95,458
23	Greenbrier Circle	Norfolk	VA	Industrial	230,097
24	Norfolk Commerce Center — I, III, IV	Norfolk	VA	Industrial	327, 711
25	Northwest Business Park – I, II, III	Milwaukee	WI	Industrial	143,114

EX-99.2

Mervyns Exhibit 99.2

Contact: Michelle M. Dawson
Vice President – Investor Relations
Developers Diversified Realty
216.755.5455

Developers Diversified Realty and Macquarie DDR Trust Announce
Acquisition of Mervyns Real Estate Portfolio

Cleveland, OH, August 8, 2005 — Developers Diversified Realty (NYSE: DDR) and Macquarie DDR Trust (“MDT”) announced the formation of a new joint venture to purchase the real estate underlying 36 open and operating Mervyns stores. The joint venture will acquire the assets from Mervyns for $396.2 million and subsequently lease the assets to Mervyns for 15 years at an annual rent of $30.5 million, which equates to a weighted average rent of $11.12 per square foot. The pricing equates to a 7.7% initial cash cap rate and an 8.9% cap rate on a GAAP basis. The Purchase and Sale Agreement contains a contingent purchase price adjustment secured by a $25 million letter of credit from the seller payable in certain circumstances including termination of all Mervyns leases. Individual, triple net leases will encumber each property and the tenant will be responsible for all property level maintenance. The leases will provide for 2% annual rent increases and will generally include four five-year renewal options. The leases will be cross-defaulted. The transaction is expected to close in mid-September.

MDT is an Australian Listed Property Trust jointly managed by Developers Diversified and Macquarie Bank Limited (ASX: MBL), an international investment bank and leading advisor and manager of specialized real estate funds. In previous transactions with MDT, Developers Diversified has owned a 14.5% ownership interest in the joint venture. In this joint venture, Developers Diversified and MDT each own a 50% interest.

Scott Wolstein, Developers Diversified’s Chairman and Chief Executive Officer, commented, “I’m pleased to announce this transaction because it represents another example of our ability to identify and successfully execute creative and opportunistic acquisitions. The structure of the transaction provides us with a long-term, accretive income stream with limited operating risk. In addition, there will be virtually no G&A impact and no additional capital investment.”

Mr. Wolstein continued, “We are particularly excited to have structured this transaction with MDT, providing additional diversity to its portfolio and investment strategy. MDT continues to be a highly beneficial joint venture partner, providing us with an efficient means of accessing capital.”

Richard Sheppard, Chairman of Macquarie DDR Management Limited, the manager of MDT, noted, “This is an exciting transaction for MDT unitholders. The acquisition provides a diversified exposure to high quality real estate focused in California and a rental income

profile with internal growth potential above that of our existing portfolio. The transaction underscores the value to MDT unitholders of the relationship with Developers Diversified.”

The new joint venture agreement provides Developers Diversified with the same fee schedule that it receives from its MDT joint venture, including a one-time acquisition and advisory fee in relation to capital structuring and debt financing.

The joint venture expects to place cross-collateralized mortgage financing on the portfolio at a loan-to-value ratio of approximately 65%. The remaining equity contribution will be allocated on a 50% / 50% basis to Developers Diversified and MDT. Developers Diversified intends to fund its portion of the equity with proceeds generated from the sale of a substantial portion of its office and industrial portfolio, which was also announced today.

Daniel Hurwitz, Developers Diversified’s Senior Executive Vice President and Chief Investment Officer, commented, “This transaction is an important step toward expanding our footprint in the West, adding nearly two million square feet of California real estate, which includes one million square feet in the Los Angeles metropolitan area.”

Mr. Hurwitz added, “These assets are located in high quality market dominant community centers and enclosed regional malls where retail sites are extremely difficult to acquire at the pricing levels achieved.”

The portfolio aggregates 2.74 million square feet and is 100% occupied by Mervyns. Approximately 70% of the assets (25) are based in California, including nearly 1.0 million square feet in the Los Angeles metropolitan area and over 500,000 square feet in the San Francisco area. Additional stores are located in Arizona (5), Nevada (5) and Texas (1).

Approximately 85% of the properties (31) are owned in fee. Of the remaining assets, four are subject to a groundlease and one is a leasehold interest. Over 70% of the assets (26) are located in open-air shopping centers, with the balance of the portfolio either attached to an enclosed mall or located as a freestanding building associated with an enclosed mall.

A powerpoint presentation providing additional details on the transaction is available on Developers Diversified’s website at www.ddr.com, and a detailed property list is attached to this announcement.

Developers Diversified will conduct a conference call and an audio webcast on Tuesday, August 9, 2005 at 10:30 a.m. EDT. To access the conference call, dial 888-396-2356 at least ten minutes prior to the scheduled start of the call. When prompted, provide the access code: 16504431. The conference call will be recorded and available for replay beginning at 12:30 p.m., August 9, 2005 and will be available until 11:59 p.m., September 8, 2005. To access the conference call recording, please call 888-286-8010 and use the access code: 58450771. The conference call will be webcast by CCBN, www.ccbn.com, and can be accessed via the DDR web site, www.ddr.com.

Including this portfolio acquisition, Developers Diversified owns or manages over 500 operating and development retail properties in 44 states, plus Puerto Rico, comprising

approximately 114 million square feet. Developers Diversified is a self-administered and self-managed real estate investment trust (REIT) operating as a fully integrated real estate company which develops, leases and manages shopping centers. You can learn more about Developers Diversified on the Internet at www.ddr.com.

Macquarie DDR Trust is a listed property trust with assets of approximately $2.5 billion (as at 30 June 2005). More than $A23 billion in property assets is managed under the Macquarie brand across a portfolio of listed and unlisted property trusts, unlisted development funds and property investment syndicates, globally.

Developers Diversified Realty Corporation considers portions of this information to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934, both as amended, with respect to the Company’s expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause the results of the Company to differ materially from those indicated by such forward-looking statements, including, among other factors, local conditions such as oversupply of space or a reduction in demand for real estate in the area, competition from other available space, dependence on rental income from real property, the loss of a major tenant, constructing properties or expansions that produce a desired yield on investment or inability to enter into definitive agreements with regard to our financing arrangements or our failure to satisfy conditions to the completion of these arrangements. For more details on the risk factors, please refer to the Company’s Form on 10-K as of December 31, 2004.

ATTACHMENT:

MERVYNS PORTFOLIO PROPERTY LIST

				MALL /
	PROPERTY			SHOPPING	OWNERSHIP
	NAME	CITY / STATE	GLA	CENTER	INTEREST
1	Mervyn’s Plaza	Phoenix, AZ (Chandler)	74,862	SC	Owned
2	Superstition Springs Regional Mall	Phoenix, AZ (Mesa)	86,858	Mall	Owned
3	Deer Valley Center	Phoenix, AZ	81,009	SC	Owned
4	Silver Creek Place	Phoenix, AZ	76,214	SC	Owned
5	Santa Cruz Plaza	Tucson, AZ	76,126	SC	Owned
6	Anaheim Hills Festival Center	Los Angeles, CA (Anaheim)	77,883	SC	Owned
7	The County East Shopping Center	San Francisco, CA (Antioch)	75,339	Mall	Owned
8	Burbank Town Center	Los Angeles, CA (Burbank)	89,182	Mall	Ground Lease
9	Chino Town Square Shopping Center	Los Angeles, CA (Chino)	81,282	SC	Owned
10	Sierra Vista Mall	Fresno, CA (Clovis)	77,561	Mall	Ground Lease
11	Westfield Shoppingtown Parkway	San Diego, CA (El Cajon)	85,744	Mall	Ground Lease
12	Westfield Solano Mall	San Francisco, CA (Fairfield)	89,223	Mall	Owned
13	Folsom Square	Sacramento, CA (Folsom)	79,080	SC	Owned
14	Foothills Ranch Town Centre	Los Angeles, CA (Foothill Ranch)	77,934	SC	Owned
15	Unnamed Center	Los Angeles, CA (Fullerton)	76,360	SC	Owned
16	Garden Grove Center	Los Angles, CA (Garden Grove)	83,746	SC	Owned

				MALL /
	PROPERTY			SHOPPING	OWNERSHIP
	NAME	CITY / STATE	GLA	CENTER	INTEREST
17	Albertson’s Shopping Center	Los Angeles, CA (Lompoc)	62,523	SC	Owned
18	Unnamed Center	San Francisco, CA (Madera)	59,720	SC	Owned
19	Northridge Shopping Center	Los Angeles, CA (Northridge)	75,455	SC	Leasehold
20	Antelope Valley Mall	Los Angeles, CA (Palmdale)	76,550	Mall	Owned
21	Porterville Market Place Shopping Center	Los Angeles, CA (Porterville)	76,378	SC	Owned
22	Freestanding Unnamed	San Francisco, CA (Redding)	61,363	SC	Owned
23	Southland Plaza Shopping Center	San Diego, CA	75,207	SC	Owned
24	Town Center West Shopping Center	Los Angeles, CA (Santa Maria)	84,886	SC	Owned
25	Santa Rosa Plaza	San Francisco, CA (Santa Rosa)	90,348	Mall	Owned
26	Slatten Ranch Shopping Center	San Francisco, CA (Slatten Ranch)	78,819	SC	Owned
27	Sonora Crossroads Shopping Center	Saramento, CA (Sonora)	62,214	SC	Owned
28	Arbor Faire Shopping Center	Bakersfield, CA (Tulare)	62,947	SC	Owned
29	Freestanding Unnamed	San Francisco, CA (Ukiah)	58,841	SC	Owned
30	West Covina Shopping Center	Los Angeles, CA (West Covina)	82,028	SC	Ground Lease
31	Eagle Station	Reno, NV (Carson City)	60,494	SC	Owned
32	Nellis Crossing Shopping Center	Las Vegas, NV	76,016	SC	Owned
33	Grand Canyon Parkway Shopping Center	Las Vegas, NV	79,294	SC	Owned
34	Loma Vista Shopping Center	Las Vegas, NV	75,687	SC	Owned

				MALL /
	PROPERTY			SHOPPING	OWNERSHIP
	NAME	CITY / STATE	GLA	CENTER	INTEREST
35	Sierra Center	Reno, NV	79,239	SC	Owned
36	Ingram Park	San Antonio, TX	76,597	SC	Owned

EX-99.3

Mervyns Portfolio Acquisition Overview August 8, 2005 Exhibit 99.3

Safe Harbor Statement Certain statements contained herein that are not historical in nature or that concern future earnings results or estimates or that reflect expectations or beliefs are forward-looking statements. Although we believe that such statements are based upon reasonable assumptions, you should understand that those statements are subject to risk and uncertainties and that actual results may differ materially from the forward-looking statements. Additional information about such factors and uncertainties that could cause actual results to differ may be found in the management's discussion and analysis portion of our Form 10-K for the year ended December 31, 2004 and filed with the SEC.

Efficient acquisition structure enables us to control portfolio of high quality retail sites in high barrier, growth markets Transaction: Sale-Leaseback of 36 operating Mervyns stores totaling 2.74 MSF Pricing: Total purchase price of approximately $396 million, which represents a 7.7% initial cash cap rate and an 8.9% cap rate on a GAAP basis Timing: Anticipated closing in mid-September

Joint venture structure with MDT broadens its investment parameters, increasing its growth profile and portfolio diversity Joint Venture Structure: New joint venture to be formed in which our aggregate interest will be 50% and MDT's interest will be 50% Fee Structure: Same as previous MDT transactions, including a one-time acquisition and advisory fee relating to capital structure and debt financing Ongoing property management and asset management fees represent approximately $1.4 million per year One-time acquisition and advisory fee represents approximately $2.5 million

Long term lease provides income stream with consistent internal growth and provisions for additional security Rent: $30.5 million per year, with 2% annual increases Security: Leases are cross-defaulted and rent is supported for five years with a $25 million letter of credit Term: 15 years plus four five-year options (option rent reflects continued 2% annual increases) Recovery Structure: Pure triple net

Sale-Leaseback structure limits our operational risk and capital outlay Estimated Annual FFO Accretion: Approximately $0.08 per share on a GAAP basis, including ongoing property management and asset management fees Minimal G&A Impact: No additional personnel will be added No Ongoing Capital Needs: Tenant bears risk of variable operating expenses and property maintenance

Acquisition redeploys approximately $170 million of proceeds from sale of office and industrial portfolio Financing: Currently structuring new secured mortgage financing 65% LTV 80% Fixed / 20% Floating 5 Year Term No Assumed Debt

High quality store portfolio provides immediate presence in key urban trade areas with outstanding demographics 5 Mile 255,604 85,611 $70,751 10 Mile 750,389 252,505 $69,942 15 Mile 1,403,215 467,754 $80,526 Portfolio Average Weighted by Value Population Households Avg. HH Income

Portfolio by Metropolitan Area Los Angeles 12 944,207 34% San Francisco 7 513,653 19% Phoenix 4 318,943 12% Las Vegas 3 230,997 8% San Diego 2 160,951 6% Sacramento 2 141,294 5% Other 6 432,964 16% (Reno-2, Fresno, Tucson, San Antonio, Bakersfield) Total 36 2,743,009 100% Major Metro City Number of Properties GLA Percent of Portfolio GLA

Portfolio by State California 25 1,900,613 69% Arizona 5 395,069 14% Nevada 5 370,730 14% Texas 1 76,597 3% Total 36 2,743,009 100% State Number of Properties GLA Percent of Portfolio GLA

Portfolio by Retail Format Property Type Shopping Center 26 1,952,000 71% Mall 8 670,805 25% Free Standing 2 120,204 4% Total 36 2,743,009 100% GLA Percent of Portfolio GLA Number of Properties

Portfolio by Ownership Interest Type Number of Properties Percent of Portfolio GLA Owned 31 2,333,039 85% Ground Lease 4 334,515 12% Leasehold 1 75,455 3% Total 36 2,743,009 100% GLA

Representative Assets

Burbank, CA - Burbank Town Center 245 E. Magnolia Blvd. * 2005 ESTIMATE DEMOGRAPHICS* POPULATION HOUSEHOLDS AVG. HH. INCOME 5 MILES 480,378 181,870 $66,271 10 MILES 2,318,858 837,206 $63,270 15 MILES 4,474,894 1,559,795 $73,022 90,000 sf (two levels) Built in 1991 / Expanded in 2002 S ubject to a long term groundlease Direct access to Interstate 5 Located in a super regional enclosed mall in the main retail hub of an extremely dense Los Angeles submarket PROPERTY DESCRIPTION Macy's Sears AMC Theatres CO-TENANTS IKEA Circuit City Ross Dress For Less

Burbank, California Site Map

Burbank, California Site Map

Slatten Ranch, CA - Slatten Ranch Shopping Center 5849 Lone Tree Way * 2005 ESTIMATE DEMOGRAPHICS* POPULATION HOUSEHOLDS AVG. HH. INCOME 5 MILES 155,759 48,660 $92,572 10 MILES 249,785 80,307 $85,815 15 MILES 405,920 133,607 $108,610 PROPERTY DESCRIPTION Direct access to Lone Tree Way, the major thoroughfare through Antioch Located in a newly developed market dominant community center in the primary retail hub of Antioch, an affluent and high growth San Francisco suburb 79,000 sf Built in 2003 Fee simple ownership CO-TENANTS Target Greatland Barnes & Noble Bed Bath & Beyond Office Depot Old Navy PETsMART Sports Chalet World Market Thomasville Furniture

Slatten Ranch, California Site Map

Slatten Ranch, California Site Map

West Covina, CA - Westfield Shoppingtown Eastland 2753 E. Eastland Center Dr. * 2005 ESTIMATE DEMOGRAPHICS* POPULATION HOUSEHOLDS AVG. HH. INCOME 5 MILES 469,926 130,095 $71,209 10 MILES 1,319,725 369,824 $72,356 15 MILES 2,776,623 823,414 $79,123 PROPERTY DESCRIPTION Direct access to Interstate 10 Located in a community center (originally developed as a super regional enclosed mall) in an extremely dense Orange County trade area 82,000 sf (two levels) Built in 1957 / Renovated in 1979 / Redeveloped in 1998 Subject to a long term groundlease CO-TENANTS Albertson's Target Babies 'R Us Bed Bath & Beyond IKEA Chick's Sporting Goods Office Depot Burlington Coat Factory Levitz Furniture Old Navy Ross Dress For Less Circuit City

West Covina, California Site Map

West Covina, California Site Map

Las Vegas, NV - Grand Canyon Parkway 4265 S. Grand Canyon Dr. * 2005 ESTIMATE DEMOGRAPHICS* POPULATION HOUSEHOLDS AVG. HH. INCOME 5 MILES 224,654 89,674 $80,049 10 MILES 683,988 269,157 $64,562 15 MILES 1,416,314 524,925 $72,792 PROPERTY DESCRIPTION 80,000 sf Built in 2003 Fee simple ownership Direct access to I-215 Located in a newly developed community center on Grand Canyon Parkway in a growing southwest Las Vegas trade area south of Summerlin CO-TENANTS Sears Grand Target

Southwest Las Vegas, Nevada Site Map

Southwest Las Vegas, Nevada Site Map

Anaheim Hills, CA - Anaheim Hills Festival 8100 East Santa Ana Canyon Rd. * 2005 ESTIMATE DEMOGRAPHICS* POPULATION HOUSEHOLDS AVG. HH. INCOME 5 MILES 146,816 49,639 $120,632 10 MILES 830,092 259,149 $91,717 15 MILES 2,677,305 767,740 $85,219 PROPERTY DESCRIPTION Direct access to Highway 91, near the Highway 261 interchange Located in a newly redeveloped market dominant community center in a highly affluent Orange County community 78,000 sf Built in 1992 / Redeveloped in 2002 Fee simple ownership CO-TENANTS Target Vons Supermarket Toys "R" Us T.J. Maxx Edwards Theatre 24 Hour Fitness

Anaheim Hills, California Site Map

Anaheim Hills, California Site Map