10-11-19

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Located on the roof of RIDC’s Mill 19 development RIDC contracts Scalo Solar Solutions to install solar array in Western PA

SPOTLIGHTS INSURANCE/TITLE ISSUE HIGHLIGHTS Volume 31, Issue 19 October 11 - 24, 2019 7-12A MC REAL ESTATE PARTNERS ACQUIRES EXECUTIVE PLAZA

FRISCO, TX & ROCK- VILLE, MD — InvenTrust Properties Corp. (Inven- Trust, IVT) announced the acquisition of Eldorado Mar- ketplace, a 186,068 s/f center anchored by Market Street in Frisco, TX, a suburb of Dallas, for $71 million and the ac- quisition of Travilah Square, a 56,220 s/f shopping center anchored by Trader Joe’s in Rockville, MD, a suburb of ITTSBURGH, PA — Regional Industrial Development Cor - poration of Southwestern Pennsylvania (RIDC) has contracted with Scalo Solar Solutions to install what is thought to be one of the larg- est solar arrays in Western Pennsylvania on the roof of RIDC’s Mill 19 development. Installation begins this week. The array, which will include more than 110,000 s/f of high- powered solar panels and pro- duce over two million kilowatt hours (kWh) per year will also be one of the largest single- surface, sloped roof solar arrays in the country. Mill 19 is a former steel mill located on a 178-acre site formerly owned by J&L Steel Hazelwood Works, then LTV Steel. It is the anchor development of what is now known as the Hazelwood Green P

acquisitions for InvenTrust. “This property benefits from the Rockville area’s key demo- graphics, including a growing population and an increasing average household income. The property also provides considerable lease up opportu- nity with the recent opening of the newly built Trader Joe’s.” Travilah Square is strategi- cally located in Rockville area. In addition to Trader Joe’s, the shopping center features national tenants such as TI- TLE Boxing and Flower Child, and several new tenants, including Tropical Smoothie and The Joint. Christy David , executive VP for InvenTrust and head of transactions added, “Inven- Trust has now acquired over $400 million of high quality grocery-anchored centers in key growth markets year-to- date. IVT remains on track to hit the company’s acquisi- tion goals for 2019 and these acquisitions both support our strategy of investing in the right assets in the right markets.”  renaissance.” Phase A of Mill 19, the first building, now houses Manu- facturing USA’s Advanced Robotics for Manufacturing (ARM) Institute, and is soon to be followed by Carnegie Mellon University’s Manufacturing Futures Initiative and Catalyst Connection. Phase B, the sec- ond building, will house a cor- porate R&D center for a global technology company. These two buildings will be net-zero energy as a result of the offset energy the solar array produces on site. It is expected to be com- pletely installed and operating sometime next summer. “This solar array will produce an energy offset equivalent to 773 tons of coal every year, which is enough to power 169 homes every year for 25 years,” said Michael Carnahan , Scalo Solar Solutions general manager. 

RIDC’s Mill 19 development Solar array renderings

site, the last large riverfront brownfield within city limits. Featuring a building within a building design concept, the mill’s metal walls and roof have been stripped away, intention- ally revealing its underlaying steel superstructure. Inside the mill’s exoskeleton, there will be a 264,000 s/f high-tech complex separated into three new build- ings with light industrial, R&D,

office space and outdoor public amenities. “Mill 19 is not just a symbol of Pittsburgh’s prosperous in- dustrial past,” RIDC president Donald Smith said. “It is also a symbol of our present and future economy. The rooftop solar array is a part of an eco- friendly and sustainable design that is a hallmark of our city’s environmental and economic

3B

UPCOMING CONFERENCES

InvenTrust Properties acquires two premier grocery-anchored centers totaling $120million

October 22, 2019 6 th Annual Healthcare & Medical Conference November 1, 2019 5 th Annual NJ CRE Leadership Conference For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea@marejournal.com

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Trader Joe’s in Rockville, MD

Washington, DC., for $52 million. “The acquisition of Eldo- rado Marketplace expands our footprint in the attractive Frisco market and provides significant opportunities for future revenue growth,” said Stephen Snodgrass , VP of transactions for InvenTrust. “Frisco is home to a number of large corporate headquarters including the PGA and Keurig Dr. Pepper, and this property benefits from a prime, high- traffic location in this high-

income and rapidly growing market. Eldorado Marketplace has a stable tenant base featur- ing a top performing Market Street in the region as well as nationally recognized retail- ers and restaurants such as AT&T, JerseyMike’s, Re/Max, PetSmart and UPS. “We are excited to expand our footprint in the active Washington, DC. submarket with the addition of a core asset like Travilah Square,” said Nicole Horne , VP of

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