Colorado Mills 'Peaks' in Rocky Mountain Region

Mills Corporation, Denver West Realty Start Construction

In Lakewood, Co. Today



Project Kicks-Off With OFF 5TH - Saks Fifth Avenue

Outlets and Neiman-Marcus Offerings



Apr 24, 2001, 01:00 ET from The Mills Corporation

    LAKEWOOD, Colo., April 24 /PRNewswire Interactive News Release/ -- The
 Mills Corporation (NYSE:   MLS) celebrated the launch of its unique brand of
 retail and entertainment development in the Rocky Mountain region today with
 the official ground breaking and construction start at Colorado Mills in
 suburban Denver's Lakewood, Colorado.
     The 1.2 million square foot (gross leasable area) retail and entertainment
 shopping center is located on 130 acres at the intersection of I-70, Colfax
 Avenue and Indiana Avenue. Just 10 miles west of downtown Denver and along the
 primary route taken to a majority of Colorado's finest ski resorts, Colorado
 Mills is scheduled to open in the Fall of 2002.
     The $250 million retail and entertainment venue will offer the best
 shopping, dining, entertainment, recreation, community events and programs
 like those found in well known Mills-brand projects across the country.
 Colorado Mills will also feature a unique outdoor component, named "E-Street,"
 that will feature restaurants, a one-of-a-kind Museum and other entertainment
 venues. Many of The Mills Corporation's properties, including icons like
 Sawgrass Mills in South Florida and Ontario Mills in Southern California, are
 among the most visited destinations in their respective states, and are among
 the most productive retail locations in North America.
     Larry Siegel, Mills' Chairman and CEO stated, "Colorado Mills will be a
 shining star in the Mills constellation -- an exceptional offering in an
 exceptional market. We have long wanted to plant a Mills flag in the Denver
 area and this is a much-anticipated moment. We are thrilled to be here and we
 are excited to develop the best Mills center yet."
     Partnering in Colorado Mills will be Greg Stevinson, President of Denver
 West Realty, Inc.  Stevinson is a long-time resident of Jefferson County and
 civic leader in the community.  Also joining Mills and Denver West is Mills'
 equity partner, Kan Am, a full-service investment advisory company based in
 Munich, Germany.
     Colorado Mills will establish the Mills brand in the suburban heart of the
 20th largest metro area in the United States.  Colorado Mills is ideally
 positioned in Lakewood, just minutes from downtown Denver, in the state's 2nd
 most populous county (just behind Denver).  Within one hour's drive of
 Colorado Mills are six exceptional, internationally renowned ski resorts,
 including: Breckenridge, Copper Mountain, Keystone, Loveland, Vail and Winter
 Park.
     Greg Stevinson said, "Mills centers are always on the cutting edge of
 retail. I'm very impressed with the broad range of new shopping opportunities,
 as well as the unique entertainment experience their projects have to offer.
 Mills-type centers have proven that their blend of innovation, value and sheer
 fun pays off in customer satisfaction."
     With an early emphasis on style and name brands, Mills today announces
 "bookend" anchors to its fashion offering -- OFF 5TH - Saks Fifth Avenue
 Outlet and Last Call from Neiman Marcus.
 
     OFF 5TH -- Saks Fifth Avenue Outlet stores offer the best of American and
 European designers and brands in women's apparel, men's apparel, footwear,
 accessories and decorative home furnishings.  OFF 5TH stores carry merchandise
 directly from Saks Fifth Avenue's 62 stores, along with merchandise purchased
 from other fine vendors.  Merchandise is typically priced at 40 to 70 percent
 below original retail or comparable offerings at other stores.
 
     Last Call from Neiman Marcus is a consolidation of marked down merchandise
 from the upscale retailer's 32 stores nationwide, NM Direct, as well as
 Bergdorf Goodman and represents the most complete selection of quality
 merchandise at significant savings offered by Neiman Marcus. Prices will be
 65- 80% off the original selling price.
 
     Siegel noted, "These world-class retailers are the first in an exciting
 mix of tenants that will introduce Lakewood, Denver and the entire Rocky
 Mountain region to the out-of-home experience we call 'Shoppertainment'.  As
 this project unfolds, you'll see one of the most dynamic destinations in all
 of America."
     Lakewood Mayor Steve Burkholder said, "We are so pleased that this effort
 is coming to fruition. The Mills project will bring an entirely new shopping
 experience not only to Lakewood but the entire region. We have long known that
 this is a perfect retail site and Mills will be very complementary to the
 wildly successful Denver West Village."
     Colorado Mills is also pleased to immediately become involved in the
 Jefferson County community by making contributions to five local charities:
 The Jefferson County Open Space Foundation, The Lakewood Legacy Foundation,
 The Gold Crown Foundation, Lariat Loop Mountain Gateway Heritage Area and The
 Arvada Center for the Arts.  The contributions total $25,000 and are a first
 step in introducing Colorado Mills to the community.
     When fully leased and operational, Colorado Mills will create between
 3,000 and 4,000 jobs, with many more produced by the peripheral area
 businesses.   The city of Lakewood has estimated that Colorado Mills will
 generate approximately $4.58 million of net tax revenue to the city based on
 over $300 million in taxable sales at the center.  Additionally, Lakewood
 estimates that Colorado Mills could generate an estimated $1.5 million in tax
 revenues for the Jefferson County Open Space Program.
 
     The Mills Corporation is a self-managed real estate investment trust
 (REIT) based in Arlington, Va., that owns, develops, leases, manages and
 markets a portfolio of 12 market dominant retail and entertainment
 destinations (11 Mills and one Block) totaling approximately 17 million square
 feet in 10 states.  Arundel Mills, located in the Baltimore/Washington
 corridor, opened in November 2000.  Currently the company has five projects
 under construction and/or development in the United States and one in Toronto,
 Canada. The company's Internet address is http://www.millscorp.com .
 
     Denver West Realty owns and operates the 22-building Denver West Office
 Park, the Denver West Village retail area and is a partner in the adjacent
 Park at Denver West, luxury apartment community.  Denver West Realty is the
 master planner for the 750 acre land holding located in Lakewood at the
 confluence of five major highways -- I-70, U.S. 6, U.S. 40, Highway 93 and C-
 470.
 
     Kan Am is a full-service investment advisory company founded in 1973,
 focusing primarily on the development of and investment in commercial real
 estate projects in the United States and Germany.  The company is
 headquartered in Munich, Germany, with offices in Dusseldorf and Frankfurt,
 Germany, and in Atlanta, Ga. in the United States.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X15244832
 
 

SOURCE The Mills Corporation
    LAKEWOOD, Colo., April 24 /PRNewswire Interactive News Release/ -- The
 Mills Corporation (NYSE:   MLS) celebrated the launch of its unique brand of
 retail and entertainment development in the Rocky Mountain region today with
 the official ground breaking and construction start at Colorado Mills in
 suburban Denver's Lakewood, Colorado.
     The 1.2 million square foot (gross leasable area) retail and entertainment
 shopping center is located on 130 acres at the intersection of I-70, Colfax
 Avenue and Indiana Avenue. Just 10 miles west of downtown Denver and along the
 primary route taken to a majority of Colorado's finest ski resorts, Colorado
 Mills is scheduled to open in the Fall of 2002.
     The $250 million retail and entertainment venue will offer the best
 shopping, dining, entertainment, recreation, community events and programs
 like those found in well known Mills-brand projects across the country.
 Colorado Mills will also feature a unique outdoor component, named "E-Street,"
 that will feature restaurants, a one-of-a-kind Museum and other entertainment
 venues. Many of The Mills Corporation's properties, including icons like
 Sawgrass Mills in South Florida and Ontario Mills in Southern California, are
 among the most visited destinations in their respective states, and are among
 the most productive retail locations in North America.
     Larry Siegel, Mills' Chairman and CEO stated, "Colorado Mills will be a
 shining star in the Mills constellation -- an exceptional offering in an
 exceptional market. We have long wanted to plant a Mills flag in the Denver
 area and this is a much-anticipated moment. We are thrilled to be here and we
 are excited to develop the best Mills center yet."
     Partnering in Colorado Mills will be Greg Stevinson, President of Denver
 West Realty, Inc.  Stevinson is a long-time resident of Jefferson County and
 civic leader in the community.  Also joining Mills and Denver West is Mills'
 equity partner, Kan Am, a full-service investment advisory company based in
 Munich, Germany.
     Colorado Mills will establish the Mills brand in the suburban heart of the
 20th largest metro area in the United States.  Colorado Mills is ideally
 positioned in Lakewood, just minutes from downtown Denver, in the state's 2nd
 most populous county (just behind Denver).  Within one hour's drive of
 Colorado Mills are six exceptional, internationally renowned ski resorts,
 including: Breckenridge, Copper Mountain, Keystone, Loveland, Vail and Winter
 Park.
     Greg Stevinson said, "Mills centers are always on the cutting edge of
 retail. I'm very impressed with the broad range of new shopping opportunities,
 as well as the unique entertainment experience their projects have to offer.
 Mills-type centers have proven that their blend of innovation, value and sheer
 fun pays off in customer satisfaction."
     With an early emphasis on style and name brands, Mills today announces
 "bookend" anchors to its fashion offering -- OFF 5TH - Saks Fifth Avenue
 Outlet and Last Call from Neiman Marcus.
 
     OFF 5TH -- Saks Fifth Avenue Outlet stores offer the best of American and
 European designers and brands in women's apparel, men's apparel, footwear,
 accessories and decorative home furnishings.  OFF 5TH stores carry merchandise
 directly from Saks Fifth Avenue's 62 stores, along with merchandise purchased
 from other fine vendors.  Merchandise is typically priced at 40 to 70 percent
 below original retail or comparable offerings at other stores.
 
     Last Call from Neiman Marcus is a consolidation of marked down merchandise
 from the upscale retailer's 32 stores nationwide, NM Direct, as well as
 Bergdorf Goodman and represents the most complete selection of quality
 merchandise at significant savings offered by Neiman Marcus. Prices will be
 65- 80% off the original selling price.
 
     Siegel noted, "These world-class retailers are the first in an exciting
 mix of tenants that will introduce Lakewood, Denver and the entire Rocky
 Mountain region to the out-of-home experience we call 'Shoppertainment'.  As
 this project unfolds, you'll see one of the most dynamic destinations in all
 of America."
     Lakewood Mayor Steve Burkholder said, "We are so pleased that this effort
 is coming to fruition. The Mills project will bring an entirely new shopping
 experience not only to Lakewood but the entire region. We have long known that
 this is a perfect retail site and Mills will be very complementary to the
 wildly successful Denver West Village."
     Colorado Mills is also pleased to immediately become involved in the
 Jefferson County community by making contributions to five local charities:
 The Jefferson County Open Space Foundation, The Lakewood Legacy Foundation,
 The Gold Crown Foundation, Lariat Loop Mountain Gateway Heritage Area and The
 Arvada Center for the Arts.  The contributions total $25,000 and are a first
 step in introducing Colorado Mills to the community.
     When fully leased and operational, Colorado Mills will create between
 3,000 and 4,000 jobs, with many more produced by the peripheral area
 businesses.   The city of Lakewood has estimated that Colorado Mills will
 generate approximately $4.58 million of net tax revenue to the city based on
 over $300 million in taxable sales at the center.  Additionally, Lakewood
 estimates that Colorado Mills could generate an estimated $1.5 million in tax
 revenues for the Jefferson County Open Space Program.
 
     The Mills Corporation is a self-managed real estate investment trust
 (REIT) based in Arlington, Va., that owns, develops, leases, manages and
 markets a portfolio of 12 market dominant retail and entertainment
 destinations (11 Mills and one Block) totaling approximately 17 million square
 feet in 10 states.  Arundel Mills, located in the Baltimore/Washington
 corridor, opened in November 2000.  Currently the company has five projects
 under construction and/or development in the United States and one in Toronto,
 Canada. The company's Internet address is http://www.millscorp.com .
 
     Denver West Realty owns and operates the 22-building Denver West Office
 Park, the Denver West Village retail area and is a partner in the adjacent
 Park at Denver West, luxury apartment community.  Denver West Realty is the
 master planner for the 750 acre land holding located in Lakewood at the
 confluence of five major highways -- I-70, U.S. 6, U.S. 40, Highway 93 and C-
 470.
 
     Kan Am is a full-service investment advisory company founded in 1973,
 focusing primarily on the development of and investment in commercial real
 estate projects in the United States and Germany.  The company is
 headquartered in Munich, Germany, with offices in Dusseldorf and Frankfurt,
 Germany, and in Atlanta, Ga. in the United States.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X15244832
 
 SOURCE  The Mills Corporation

RELATED LINKS

http://www.millscorp.com