Continental Real Estate Companies / AdVenture Development LLC

 

FOR IMMEDIATE RELEASE                                                         FOR MORE INFORMATION
                                                                                                             Ruth Milligan, 614-348-0760

 

Union Highlands Shopping Center Plans Unveiled

Project expected to generate 1200 jobs and $850,000 in tax revenue

New development partnership announces Lowe’s Home improvement Center as anchor

 

UNION TOWNSHIP, PA (May 10, 2005) -- Continental Real Estate Companies (CREC) and AdVenture Development, LLC have joined in a partnership to develop Union Highland Shopping Center located in Union Township on Route 88 across from Mineral Beach. The 440,000 square foot complex will be anchored by a 134,000 square foot Lowe’s Home Improvement Center. The site will be accessed through two signalized intersections is expected to include other anchors along with a variety of restaurants, retail shops and a bank.

 

Kevin Dougherty, President of AdVenture Development, LLC commented, “We are excited about working in this northern tier of Washington County and look forward to serving the residents of Union, Nottingham, and Carroll Townships, and Finleyville Borough. The Union highlands Shopping Center will provide expanded convenience to the residents by offering retail stores that are not currently available in this area. We look forward to building a project that best serves the community.

 

The Union Highlands project has been submitted to Union Township for its initial review and is expected to cost in excess of $40,000,000. Construction is expected to start in the fall of 2005 with an anticipated opening in 2006. Over 700 construction jobs and 1200 full and part-time permanent, direct jobs are expected to be generated. Additionally, the shopping center will generate an estimated $850,000 in real estate tax revenues for Union Township, Ringgold School District, and Washington County. Union Township will receive additional revenue from transfer stamp fees, permit fees, and occupational privilege and wage taxes.

 

In Pittsburgh, Continental Real Estate Companies has developed the Waterfront, The Galleria and is in process of developing the North Shore between the two stadiums, totaling over 4.5 million square feet.

 

“Our partnership with AdVenture provides another opportunity for us to do what we do best: develop high-quality retail environments,” said ORE Pittsburgh Development President Barry Ford. This project also shows our ongoing commitment to the greater Pittsburgh area, building on our successes at the Waterfront, Galleria and North Shore.”

 

AdVenture Development, LLC was founded by Kevin Dougherty in early 2005. Previously, Dougherty served as President and co-founder of Michael Joseph Development Corporation. Over the past fifteen years, Dougherty has been the catalyst for the development of over 2 million square feet of commercial space in Western Pennsylvania. AdVenture Development, LLC focuses on the development of shopping centers and retail outlets as well as medical and surgical facilities in the mid-Atlantic area.

 

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Continental Real Estate Companies has developed more than one billion square feet of mixed use retail throughout the united States during the past 15 years.

Current or recently finished retail projects include The streets of Yorktown, Houston, TX, The Streets of Indian Lake, Hendersonville (Nashville), TN, The Streets of Ablemarle, Charlottesville, VA, The streets of Chester, Chester, NJ, The streets of Cranberry. Pittsburgh, PA, The North shore, Pittsburgh, PA, The Galleria, Mt. Lebanon, PA, The streets of Torindgon, Charlotte, NC, The Streets of West Chester, Cincinnati, OH, Parkway Centre, Grove City, OH, The Market at Hilliard, Columbus, OH; The Market at Polaris, Columbus, OH, The Market at Clifty Crossing, Columbus, IN, Toringdon Market, Charlotte, NC, and The Cap at union Station, Columbus, OH.