OLD BRIDGE, N.J. (April 23, 2008) – The Lightstone Group, one of the largest private real estate owners in the country, today announced that it has begun a multi-million dollar renovation at the Browntown Shopping Center in Old Bridge, N.J.  The extensive renovation to the existing 1960 structure includes a building facelift, as well as enhanced lighting, parking and landscaping.

The Browntown Shopping Center is strategically located on Route 516, a major east-west commuter corridor between Route 9 and Route 18. New York Sports Club, Drug Fair and Wendy’s Old Fashioned Hamburgers anchor the center, which has historically enjoyed higher-than-average occupancy.

“The renovation of Browntown Shopping Center reflects Lightstone’s continued reinvestment in our existing portfolio of retail properties,” stated said Jeffrey Dash, vice president of retail leasing and management for the Lightstone Group.

Timothy LaBeau, president and CEO of Drug Fair, added, “We’re very excited about the remodeling of Browntown, and plan to also remodel the interior and exterior of our store as well.” A pharmaceutical and general merchandise retail chain with over 40 stores located throughout New Jersey, Drug Fair unveiled the chain’s new prototype last year at The Lightstone Group’s Millburn Village Mall in Vauxhall, N.J.

To learn about leasing opportunities at Browntown Shopping Center and other Lightstone properties, contact Jeffrey Dash at (908) 688-8300 or jdash@lightstonegroup.com.