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Rappaport Press Release

Renovation Ribbon Cutting Ceremony at Towers Shopping Center

Roanoke, Virginia

4/14/2016

Renovation Ribbon Cutting Ceremony at Towers Shopping Center
Upgrades includes new common areas, tenant storefront improvements and complimentary Wi-Fi
Roanoke, Va- Rappaport, a retail real estate management firm and agent of Towers Shopping Center in Roanoke, VA, hosted a ribbon cutting ceremony on Wednesday, April 13 to commemorate the completion of the interior mall renovations. The event was hosted on the new upper level mall interior near Wildflour Cafe and included a tour, music from members of the Roanoke Symphony, live painting by local artist Maria Driscoll, brief remarks and refreshments. The ceremony was kicked off with formal comments from Joyce Waugh of the Roanoke Regional Chamber, Gary D. Rappaport, CEO of Rappaport, Rob Lucas, Senior Construction Project Manager of Rappaport, and Mayor of Roanoke David Bowers. Attendees included members of the renovation project team, City of Roanoke economic development agents, elected officials, City Manager Chris Morrill, members of The Roanoke Chamber, Towers Shopping Center Merchants, and members of the local media.

"I have been shopping here all my life," said Mayor David Bowers when giving his remarks prior to the official ribbon cutting. "Everybody loves Towers. This is the place to shop!"

The interior mall renovations include replacement of the aging escalators with a new single elevator for convenient access between the upper and lower levels which also improved the property's ADA accessibility. The renovation incorporated sustainability principals by including LED lights as well as new interior floor and wall, ceiling and lighting finishes that create a bright and attractive shopping environment. New features for retailers include an open court area and new storefront windows that offers greater visibility to merchant storefronts. Consumers will enjoy the various mall corridor wall surfaces that display community artwork and comfortable mini-lounges on the upper level with the complimentary Wi-Fi amenity.

"By investing in this property, we are investing in this community," said Gary D. Rappaport. Rappaport provides management and leasing services to Towers Shopping Center and also provided Construction Management services for the project.

The design team includes C2 Architecture LLC, Architect; Interior Creations, Interior Designer; Precision Engineering, P.C., Mechanical, Electrical, Plumbing Engineer; Day & Kinder Consulting Engineers, Structural Engineer and Turner Long Construction, General Contractor.

Towers Shopping Center will host a Spring Festival event Saturday, April 30, from 10:00am to 12:00pm that is open to the public and includes free entertainment and a live radio broadcast airing from the mall interior.

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ABOUT RAPPAPORT
For more than 30 years Rappaport has provided retail leasing, tenant representation, property management, asset management, construction management, development, marketing, consulting and receivership services for retail space in shopping centers and mixed-use properties throughout Washington, D.C., Maryland and Virginia. Rappaport's portfolio includes retail space in urban and suburban locations owned by Rappaport, affiliates and many local and institutional clients. For more information visit www.rappaportco.com

ABOUT TOWERS SHOPPING CENTER
Towers Shopping Center (www.towersshoppingcenter.com) is just off I-581 at Brandon and Colonial avenues. The center is anchored by Kroger, Fresh Market, Petco and Tuesday Morning. Owned by Towers Retail, LLC, Towers Shopping Center is managed and leased by Rappaport of McLean, Virginia.