GLENN SQUARE OFF TO QUICK START IN ANCHORAGE

SEATTLE WA: Seattle and Dallas-based P. O'B. Montgomery & Company has announced that following a June 1 closing, the company’s new Glenn Square multi-use development, located in Anchorage Alaska, has gotten off to a quick start, and is on schedule to meet its projected Spring, 2007 opening. The complex, located on the Glenn Highway at Mountain View Road, in the northern sector of Anchorage, has progressed rapidly beyond initial groundbreaking, with foundations poured and vertical construction well underway. Anchors for the 177,800 square foot retail portion of the center include Old Navy, Bed Bath & Beyond, Petco, Michaels, and Famous Footwear, with an additional anchor to be announced shortly. The office portion of the project, consisting of 56,100 square feet, is expected to be leased to a single user, which is to be named later.

Glenn Square is projected to be the cornerstone of the Municipality of Anchorage’s efforts to bring growth and redevelopment to the Mountain View area of the city. Currently underserved by retail, both the city and private industry have focused a great deal of effort and investment in the area. With excellent visibility from Glenn Highway, one of the area’s main thoroughfares, Glenn Square is not only expected to serve the immediate area, but to be a significant draw from other parts of the region. According to David Irwin, President of P. O'B. Montgomery & Company, “This is an excellent project in a superior location that has been underserved by retail. We have had a great deal of interest from the local retail community since groundbreaking.”

P. O'B. Montgomery & Company purchased the land for the project from the Municipality of Anchorage Community Development Authority, a redevelopment agency for Anchorage. Key individuals in bringing the project to fruition included Anchorage Mayor Mark Begich, Robin Ward, Executive Director of the Community Development Authority and David Irwin, President of P. O'B. Montgomery & Company. Kimco Developers, Inc. (www.kimcorealty.com) and P. O'B. Montgomery & Company (www.pobmontgomery.com) are the Partners in the project. Leasing Agent for Glenn Square is Chris Stephens of Bond, Stephens & Johnson.

For further information, contact David Irwin at P. O'B. Montgomery & Company at
425-576-5208.

P. O’B Montgomery & Company
5550 LBJ Freeway, Suite 380
Dallas, Texas 75240
Contact: Peggy Jones
Executive Administrator
972-455-4909
pjones@pobmontgomery.com

About P. O'B. Montgomery & Company:
Originally founded in 1919 as P.O'B. Montgomery, Builders, Engineers by Philip O'Bryan Montgomery, Sr., P.O'B Montgomery & Company was reestablished in 1980 by Philip Montgomery as a real estate investment and development firm. The company specializes in the ownership, operation, acquisition, and development of neighborhood and community shopping centers. Since 1980, the company has owned and operated more than five million square feet of neighborhood and community shopping center properties throughout the continental United States, from Miami, Florida to Seattle, Washington, and is now developing in Alaska. The company is headquartered in Dallas and maintains a regional office in Seattle. For more information about P.O'B Montgomery & Company, visit the company’s Web site at www.pobmontgomery.com.

This release was published on openPR.