May 7, 2003
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WAYNE, NJ - The Mainardi Management Co. today announced the signing of a significant lease at a property managed by the company near Princeton, NJ.
Whole Foods Market, Inc. (NASD-WFMI) has signed a 20 year lease to occupy approximately 63,000 square feet at the Shops at Windsor Green, a 157,500 square foot shopping center located on Route 1 in West Windsor, NJ. Whole Foods will occupy space previously leased to a Pathmark Supermarket and a Zany Brainy children's toy store. The Pathmark closed on March 15, and Zany Brainy, which recently declared bankruptcy as part of FAO, Inc., closed on April 14. The store is expected to open in February of 2004.
Founded in 1980, Whole Foods is the world's largest retailer of natural and organic foods. The company currently operates 143 stores throughout the United States, and, during 2002, had sales of $2.7 Billion.
Andrew Mainardi, III and Richard Mainardi, Jr. negotiated on behalf of the property's owners, Windsor Green Investors, L.L.C., an affiliate of Mainardi Management Co. Ken Bleznak of the Atlantic Real Estate Group represented Whole Foods in the transaction.
Mainardi Management Co. is a family-operated real estate management, leasing and development company located in Wayne, NJ. The firm currently manages 11 commercial properties, totaling just under one million square feet.
For further information on this transaction, please contact Richard Mainardi, Jr. at (973) 696-9265, or visit the company's website at: www.mainardimanagement.com.
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