• Construction Under Way on Apartment Building, Grocery Store
• Future Phases to Include One Million+ Square Feet of Office Space, More Apartments and Street Retail

BETHESDA, Md. (July 1, 2006) — LCOR, the real estate development, investment and asset management company, today announced that it’s broken ground for North Bethesda Center, a mixed-use commercial and residential development that is rising on a 32-acre site owned by the Washington Metropolitan Area Transit Authority adjacent to the White Flint Metrorail station in North Bethesda, Md.

Construction is under way on an 18-story, 312-unit rental apartment project and a 65,200 square foot Harris Teeter grocery store. The total construction cost is approximately $110 million.

LCOR is master developer of the site. The town-center style development ultimately will include more than one million square feet of office space, 202,000 square feet of street-retail space, and 1,250 multifamily housing units. North Bethesda Center is expected to generate approximately 5,400 new permanent jobs and 6,500 mass transit rides.

Prospective tenants for office or retail space at North Bethesda Center should contact LCOR Vice President Michael J. Smith.

LCOR specializes in the development of mixed-use, multifamily and office properties, including transit-oriented development. The firm developed, owns and operates the United States Patent and Trademark Office headquarters campus in Alexandria, Va., which contains 2.4 million square feet of office space, and was recently named master developer by New Jersey Transit for its 65-acre Hoboken Terminal and Yard transit-oriented property in Hoboken, N.J.

Based in Berwyn, Pa., LCOR is a real estate development, investment and asset management company. The firm’s portfolio includes approximately $8 billion of developments completed, under construction or in pre-development.

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