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Beaver Creek Crossings to Bring More Than 650,000 Square Feet of New Retail Space to Apex, N.C. New Center to Feature Kohl's, Movie Theater and Many More to be Announced Soon APEX, N.C., April 21 /PRNewswire-FirstCall/ -- Shopping and entertainment opportunities continue to pour into Apex. The latest edition was celebrated today with the groundbreaking ceremony for Beaver Creek Crossings, located near the intersection of U.S. 64 and N.C. 55 in Apex. The more than 650,000 square foot open-air shopping center will include Kohl's, a 12-screen multiplex movie theater by Consolidated Theatres and retailers from every major category including sporting goods, electronics, clothing, pet supplies, home decor, specialty retail and restaurants. Developers Diversified Realty of Cleveland, Ohio and 1st Carolina Properties of Cary, North Carolina, joined efforts to make Beaver Creek Crossings a reality. Combined with the adjacent Beaver Creek Commons, Developers Diversified Realty will have developed more than 1 million square feet of retail in this thriving western Wake County community. Stores at Beaver Creek Crossings are expected to begin opening in Summer 2006. In addition to the traditional groundbreaking, officials from Apex, Developers Diversified and 1st Carolina Properties participated in a "Hollywood-style" celebration by creating cement handprints similar to those on the Hollywood Walk of Fame outside Grauman's Chinese Theater. "Beaver Creek Crossings' tenant lineup, stunning architecture and exceptional amenities will create a unique shopping destination within a vibrant and growing community," said Dan Herman, vice president of development for Developers Diversified Realty. "Developers Diversified Realty and our partners, 1st Carolina Properties, look forward to celebrating the grand opening of this shopping center with the residents of Apex and our retail partners next year." "The Town of Apex is more and more becoming a destination for businesses looking for a location with a growing customer base, and a feeling of community," said Keith Weatherly, mayor of Apex. "The addition of Beaver Creek Crossings and the unique offerings that will be available here will establish Apex even more as the destination for people to live, work and play." "We are proud of our association with Developers Diversified and the opportunity to bring shopping to a new level in Apex," said Connell Radcliff, president of 1st Carolina Properties. "The challenge of assembling a premier list of retailers and the ability to work with the professionals at Developers Diversified, as well as our partners with the Town of Apex, has made this project special to all of us." When combined, Beaver Creek Crossings and Beaver Creek Commons will encompass over 1 million square feet of the nation's leading retailers all in an open-air setting, the preferred shopping venue for customers. What makes the entire Beaver Creek complex unique is its location on both sides of U.S. 64. The two phases of Beaver Creek Crossings will be joined by a pedestrian and vehicular bridge that will span U.S. 64, making access to each phase easy and convenient for shoppers. Designed by Cline Design Associates of Raleigh, Beaver Creek Crossings will feature strategically placed tower elements clearly visible from a distance. Once at the center, shoppers will notice unassuming black awnings and accent lighting that will highlight warm colors of paint and brick. Its open-air, pedestrian-friendly design is sure to make it a favorite destination for shoppers from the Triangle, and beyond. Beaver Creek Crossings is joint venture development between Developers Diversified Realty and 1st Carolina Properties. About Developers Diversified Realty Cleveland-based Developers Diversified Realty (NYSE:DDR) currently owns and manages approximately 470 properties in 44 states and Puerto Rico totaling 108 million square feet of retail real estate, including 3.4 million square feet in North Carolina. Developers Diversified is a self-administered and managed real estate investment trust (REIT) operating as a fully integrated real estate company that acquires, develops, and manages shopping centers. You can learn more about Developers Diversified Realty on the Internet at http://www.ddr.com/ . About 1st Carolina Properties 1st Carolina Properties is a Cary, North Carolina-based development company. The company is led by four partners who bring a combined 75 years experience in the development of community, neighborhood, lifestyle and power centers throughout the Southeast. Through their network of tenant relationships, 1st Carolina Properties partners are actively building six (6) quality projects throughout the Carolinas. Further information on the company is available at http://www.1stcarolinaproperties.com/ or you can contact their office at 919.657.5005 or . Media Contact: Graham Wilson PRStreet, Inc. Cary, NC 27511 (919) 467-5567 http://www.prstreet.com/ DATASOURCE: Developers Diversified Realty CONTACT: Graham Wilson of PRStreet, Inc., +1-919-467-5567, or Web site: http://www.ddr.com/ http://www.1stcarolinaproperties.com/

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