THE LIGHTSTONE GROUP RENEWS OVER 29,000-SQUARE FOOT LEASE WITH
SEARS AT NATIONAL HIGHWAY IN PENNSAUKEN, N.J.

PENNSAUKEN, N.J. (April 23, 2007) – The Lightstone Group, one of the largest private real estate owners in the country, has announced a lease renewal with Sears at 8000 National Highway in Pennsauken, N.J.

Sears, the nation’s third largest broadline retailer and leading retailer of home appliances, home electronics, tools, lawn and garden and automotive repair, has renewed their 29,450-square-foot lease for five years. The property is used by Sears as a warehouse and distribution center, and also functions as a service and repair drop-off location.

“Sears is a great brand for our National Highway property,” said Frank Duran, vice president of commercial leasing for The Lightstone Group. “The warehouse and repair center is well positioned in a marketplace where over 80 percent of residents are homeowners and are therefore more vested in purchasing and maintaining products that will improve their homes. It is an honor for Lightstone to have an association with a company that has such a deep-rooted connection with the American consumer.”

Sears is highly recognized for its partnership with ABC’s Emmy Award winning television show, “Extreme Home Makeover: Home Edition,” which changes the lives of deserving families by rebuilding their homes in just seven days. Sears’ contributions to the program include donating various home appliances (i.e., refrigerators, washers and dryers, televisions, etc.) and, most recently, the launch of the Sears American Dream Campaign.