Groundbreaking news from Knightstone: Construction has Started at King's Crossing in Kingston, ON



    KINGSTON, ON, Sept. 17 /CNW/ - A ground-breaking ceremony today marked
the beginning of construction at King's Crossing, a new Power Centre retail
development in Kingston, ON, Canada with completion scheduled for Fall 2008.
    Developed by Toronto-based, Knightstone Capital Management Inc., the new
retail development is situated on a prime location with convenient access and
visibility from Hwy. 401, with an estimated traffic count of 135,000 cars
daily.
    Formerly owned by Canadian National, the 90-acre site is fully zoned and
totals over 500,000 sq. ft. of new retail comprised of the following
developments:

    
    -   POWER CENTRE - a 50 acre site, approximately 400,000 sq. ft.
    -   FASHION OUTLET CENTRE - a 12 acre site, approximately 125,000 sq. ft.
        and the largest Fashion Outlet of its kind between Toronto and
        Montréal
    -   ONE ACRE STANDALONE SITE - Ideal for a restaurant
    -   KINGSLAKE PLAZA - Approximately 75,000 sq. ft. of existing retail
    

    "King's Crossing will become an important regional shopping attraction
and a focal point for the community," said David Lehberg, President/CEO of
Knightstone Capital Management Inc. "This project will create a new and
lasting identity for the city of Kingston, and will generate significant
economic growth and benefits to the community."
    Once built, the project is expected to contribute over $2 million
annually in taxes to the city. King's Crossing will also create hundred's of
new permanent and part-time retail jobs and hundred's of new construction
jobs.
    King's Crossing will be anchored by large format retailers who will draw
consumers to the site, plus a mix of department stores and other key retailers
including Canadian Tire, Tommy Hilfiger, Puma, Nygard, Stokes, Liz Claiborne,
10 Below and many other national branded retailers.

    ABOUT KNIGHTSTONE CAPITAL MANAGEMENT INC.

    Founded in 2001, Knightstone Capital Management Inc. is a
privately-owned, Toronto-based real estate investment, asset-management, and
development company focusing primarily on office retail and multi-residential
assets in major Canadian and United States markets.


    
                                 FAST FACTS
    -------------------------------------------------------------------------

    ABOUT KING'S CROSSING:            A new, fully-zoned, retail project in
                                      Kingston, ON, Canada totaling over
                                      500,000 sq. ft. of new retail space.

    SIZE:                             78 acres

    LOCATION:                         South side of Hwy. 401 at Division St.
                                      exit in Kingston, ON

    KING'S CROSSING DEVELOPMENTS:     POWER CENTRE
                                      -  50 acre site
                                      -  Approximately 400,000 sq. ft.

                                      FASHION OUTLET CENTRE
                                      -  12 acre site
                                      -  Approximately 125,000 sq. ft.
                                      -  The only Fashion Outlet Centre along
                                         Hwy. 401 between Toronto and
                                         Montréal

                                      ONE ACRE STANDALONE SITE
                                      -  Ideal for a restaurant

    RANGE OF LEASABLE SPACE:          -  1,000 sq. ft. to 70,000 sq ft.

    HIGHWAY TRAFFIC COUNT:            over 135,000 vehicles daily

    COMPLETED DEALS WITH THE
    FOLLOWING RETAILERS:              Canadian Tire, Loblaw's, Tommy
                                      Hilfiger, Puma, Nygard, Stokes, Ardene,
                                      Boston Pizza, Liz Claiborne, 10 Below,
                                      Courtyard Marriott Hotel, Indeka.

    PARKING:                          2,386 parking spots

    NEW RETAIL JOBS TO BE CREATED:    Hundreds!

    NEW CONSTRUCTION JOBS TO BE
    CREATED:                          Hundreds!

    ESTIMATED DATE OF COMPLETION:     Fall 2008
    

    /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
    the CNW Photo Network and archived at http://photos.newswire.ca.
    Additional archived images are also available on the CNW Photo Archive
    website at http://photos.newswire.ca. Images are free to accredited
    members of the media/





For further information:

For further information: David Eisenstadt, Beth Merrick, The
Communications Group Inc., 1-800-267-4476 x36 or x40, deisenstadt@tcgpr.com,
bmerrick@tcgpr.com

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KNIGHTSTONE CAPITAL MANAGEMENT INC.

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