NRDC completes two leases at Northeast Business Center - 165,000 s/f; Includes a 105,000 s/f lease to Preferred Fragrances

National Realty & Development Corp. (NRDC) has completed two new transactions at Northeast Business Center totaling 165,000 s/f. Preferred Fragrances, an importer of women's perfume, moved from its Mountainville facility to a 105,000 s/f space at 1900 Corporate Blvd. The company opened at the site January, 1st. Existing tenant Kraft Foods has renewed their lease for five years and expanded their facility to 60,000 s/f at 700 Corporate Blvd. The initial Kraft facility was developed over 10 years ago and it has been renovated. "I am pleased that Preferred Fragrances has found a location at this property that could satisfy their distribution requirements. Northeast Business Center is a perfect fit for their needs," said Brian Sekel, executive VP. "We look forward to continuing a long and productive relationship with them." Northeast Business Center is located on Rte. 17K opposite Stewart International Airport and within one mile of the NYS Thruway and Interstate 84. The 141-acre Corporate Park is the premier business facility in the Hudson Valley. One 5,000 s/f space is still available at the center. Please call the NRDC Leasing Department at 1-800-932-RENT (7368) or visit www.nrdc.com for more details. -more- 3 Manhattanville Road Purchase, New York 10577-2117 Tel: 914.272-8035 Fax: 914.694.5448 About National Realty & Development Corp. National Realty & Development Corp. is a leading real estate owner/developer with 50 years of experience and a portfolio of 70 shopping centers located in 14 states throughout the country. Headquartered in Purchase, New York, National Realty & Development Corp. was recently ranked 22th of the top 100 Retail Real Estate Owners in the U.S. by Retail Traffic Magazine. NRDC has 3 projects in various stages of development and approval that will add close to 476,000 square feet to its 22 million square foot portfolio. Liberty Square Shopping Center in Burlington, NJ, will expand by another 40,000 square feet to accommodate a Walmart Supercenter. The Marketplace at Manville in Manville, NJ, will accommodate a 36,000 square foot expansion for Walmart Supercenter. And the development of Market Center, a 400,000 square foot urban revitalization in Quincy, MA. A complete listing of National Realty & Development Corp.'s portfolio and further details on NRDC's latest projects can be found at www.nrdc.com.