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FOR IMMEDIATE RELEASE: October 21, 2014 Contact: Joe Bell Director of Corporate Communications CAFARO [email protected] 330-747-2661 ext. 771 724-730-4532 (Mobile) Mega-Development Coming to Eastwood Mall Complex Niles Welcomes New Cafaro Headquarters and Hampton Inn & Suites America’s premier privately held shopping center developer is moving…but not very far. The Cafaro organization is building its new 50,000 square foot headquarters on the Eastwood Mall Complex in Niles, Ohio. It will be the largest new office building constructed in the Youngstown-Warren region in the past decade. The company was founded in 1949 in Youngstown, Ohio, and has maintained its corporate offices in that city throughout its history. The decision to make the approximate 8-mile move was based on a careful evaluation of the company’s ongoing needs, the limitations of the current office design, and plans for future growth. “When our current offices were built in 1965, our organization and the shopping center industry was fledgling” said the company’s third-generation Co-President, Anthony Cafaro, Jr., “but since that time we’ve grown exponentially. As the Eastwood Mall Complex has diversified its offerings over the years it has become known as much more than just a shopping destination. It now offers one-of-a-kind attractions such as The Mahoning Valley Scrapper’s Minor League Baseball and dozens of restaurants. Moving our offices to Eastwood Mall allows us to create a campus environment with a multitude of amenities for our (MORE) employees who are the true ‘foundation’ and heart of our company. Our new office will be but one component of a larger strategic plan that will further bolster the Eastwood Mall Complex as the region’s premier retail, dining, entertainment, and lodging focal point.” The new, three story headquarters will be attached to Eastwood Mall. The corporate office entrance will be integrated into the existing mall building on its eastern side, between Dillard’s and the Residence Inn by Marriott. The new office and adjoining conference center is being designed in cooperation with Phillips/Sekanick Architects, Inc. of Warren, Ohio. This state-of-the-art structure will feature a dramatic three-story glass atrium, interior skywalks and a sweeping circular staircase. This will be the headquarters for approximately 200 professional employees who direct the many functions of the Cafaro organization. Architects, accountants, construction project managers, attorneys, real estate leasing and marketing experts and other highly skilled specialists develop and manage more than 30 million square feet of commercial real estate as well as the company’s investment portfolio. Their new work environment will promote larger open work areas intended to maximize a team-focused approach to project design and problem solving. The design also incorporates the latest in technology systems enabling seamless communication with Cafaro’s properties across the country. Aesthetically, exterior building walls will be constructed of glass which will provide an abundance of natural light. The building will also include energy minimizing lighting, heating and cooling systems. The office spaces will feature premium, ergonomically adaptable, work stations and collaboration areas. An added bonus is the direct access to the shopping and dining amenities inside the mall, the adjacent three story 27,000 square foot Fizek Fitness Center, The Residence Inn by Marriott hotel, and the soon to be developed conference center – all under one roof! Cafaro Co-President William A. Cafaro noted that “The ongoing support we have received from the people of Trumbull County was instrumental in our decision to embark on this new project. Although we seriously contemplated relocating outside of the Valley, we realized that Trumbull County is and always has been our home. We’re (MORE) excited to be continuing our grandfather’s and father’s commitment to our loyal employees and the Mahoning Valley. Over the years we’ve enjoyed great relationships with the local business community, the Trumbull County Commissioners, the Mayor, City Council, and numerous members of The City of Niles administration. Most important, many of the people who routinely patronize the Eastwood Mall Complex are our friends and neighbors.” The first phase of this project, which encompasses site work, utility relocation and structural steel erection, is almost complete. Bids will be solicited during the coming weeks to select a general contractor for the remaining 80% of the headquarters construction. It is expected that the building will be ready for occupancy sometime in late 2015. At the same time, construction is now imminent on the adjacent Eastwood Conference Center. This new facility is designed for a variety of business, trade group, and social functions. For meal service, it will be able to accommodate up to 1,000 guests. Request-for-proposal information for parties interested in operating the food service for the Conference Center will soon be available on the Eastwood Mall website, www.eastwoodmall.com. Due to the unparalleled success of Fargo, ND based TMI Hospitality’s Marriott Residence Inn which opened this past May, the hotel company will be developing a second hotel at the mall complex, Hampton Inn & Suites, which is among Hilton Hotels & Resorts’ top performing Select Service franchises nationally. The new Hampton Inn & Suites will be built on the site currently occupied by the Eastwood Expo Center. This new four-story hotel will have over 100 guest rooms. An opening date is expected in 2016. Once the hotel development begins, Eastwood Expo Center events will be held in other facilities throughout and surrounding the mall complex, including the new conference center which is slated for opening in late 2015 once an operator is secured. The total value of the current phase of this multi-part project (office building, conference center and Hampton Inn & Suites) is estimated to be at least $30 million. (MORE) The Cafaro family of companies is the nation’s largest privately held shopping center developer. Cafaro owns and oversees more than 50 shopping malls, open-air shopping centers and other commercial real estate properties in 10 states. For more information, visit online at www.cafarocompany.com. The Cafaro family also supports numerous philanthropic causes through The Cafaro Foundation. The Cafaro Foundation is a charitable entity established by the Cafaro family in loving memory of the late William M. Cafaro and his wife Alyce. The self-made Mahoning Valley natives, William and his brother John, founded the company that now bears their name over 60 years ago. Since its inception in 1990’s, the Cafaro Foundation has awarded millions of dollars in grants to nonprofit organizations throughout the Mahoning Valley and across the country. ### .

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