Carlsbad Forum Lures Four of Nation's Top Retailers

CARLSBAD, CA, Sep 02 (MARKET WIRE) --
The Forum at Carlsbad, the popular 265,000-square-foot open-air retail
center in Carlsbad, Calif., announces that it is expanding its tenant
lineup with the addition of four top performing national and
international retailers -- Free People, Apple Store, Paper Source and
lululemon athletica.

"These are forward-thinking and successful retailers who recognize the
value of great real estate, captured demographics and who are perfect
examples of our focus on generating high sales productivity through a
strategically layered tenant mix that provides critical mass," said Ward
Kampf, president of leasing for the center's developer and owner, Thomas
Enterprises. "Since opening in 2003, The Forum has become one of the top
performing upscale centers in the country and tenants are taking notice."

The recent openings of Free People and the Apple Store in The Forum are
being followed by the first San Diego County store locations of the Paper
Source (September 20 grand opening) and lululemon athletica on September
25.

"These leading-edge stores are joining a roster of 50 tenants, local and
national, that have been carefully selected to cater to customers from
Carlsbad and nearby Del Mar, Rancho Santa Fe, Encinitas, Solana Beach,
Cardiff, Vista, San Marcos and Oceanside," Kampf said. "The quality and
strength of The Forum's retail mix reflects its growing recognition as an
A+ center."

The Forum is home to the only San Diego location of Sur la Table and
SuperSlow Zone. Jimbo's...Naturally, a specialty grocer focusing on retail
products and natural organic foods, is a key driver for repeat customers
in the center. Other tenants include, but are not limited to, Border's, Z
Gallerie, Anthropologie, and a number of other specialty shops, office and
service tenants along with sit-down restaurants and cafes.

The Atlanta, Georgia-based Thomas Enterprises has flourished under the
leadership of founder and President Stan Thomas by focusing on the
development of open-air centers that cater to critical mass through tenant
mix or through the scope and size of the project. The company has
developed over 25 million square feet of retail space throughout the U.S.,
6 million square feet of which it continues to own and manage including
The Forum.

With The Forum, Thomas Enterprises saw a key opportunity to provide
Carlsbad and neighboring North San Diego County coastal communities with a
desirable retail destination that would not only be an exciting place to
shop and dine, but that would become a vital community resource --
generating substantial sales tax revenues for the city, creating hundreds
of jobs and emerging as a hub for community gatherings and events.

"North San Diego County truly was an underserved market," said Kampf.
"While it had a lot of solid retail space, it didn't have the type of
retailers that North County needed. The Forum has been a great fit for the
area and only gets better with the caliber of tenants we continue to
attract."

According to City of Carlsbad Mayor Claude "Bud" Lewis, the center has
become a key source of revenue for the city as well as a key selling point
and asset for those looking to live and work in Carlsbad.

"Thomas Enterprises' approach with The Forum was, from the very beginning,
how to enhance the city of Carlsbad with a place that will stimulate
business and attract people with places to shop, dine or just relax
outdoors," said Lewis. "The center has become a popular tourist
destination for Carlsbad's growing visitor base, which is booming due to
four-star hotels -- not to mention its miles of spectacular coastline and
beaches." (La Costa Resort and Four Seasons Aviara are only one mile
north of The Forum.)

According to Kampf, Thomas Enterprises is very pro-active about the tenant
mixes at all of its projects. "We focus on generating high sales
productivity through critical drivers and this means we evaluate those
tenants whose leases are up for renewal and buy out others whose models
don't serve the demographics of the area and that don't create the synergy
we want our centers to have.

"At The Forum, our tenants are thriving. Our commitment to targeted
leasing efforts has been key to the center's success and that of its
tenants," he said.

The New Stores at the Forum

Free People, the sister store to the center's Anthropologie, opened its
first San Diego County location in The Forum in Spring 2008. The clothing
store, designed for 20-something women, caters to their intelligence,
creativity and individuality, while maintaining quality.

Apple Store (see www.apple.com for more information)

Paper Source, a premier paperie and retailer of fine stationery, paper and
craft products, will open its 24th U.S. location and first in San Diego in
The Forum with a grand opening celebration on September 20. The event will
feature hands-on demonstrations on creative techniques including rubber
stamping and paper flower making. Paper Source carries a unique selection
of fine and artisanal papers, stationery, invitations, gift wrap, greeting
cards, and gifts.

Lululemon athletica, with more than 90 stores throughout the U.S., Canada
and Australia, is opening its first official San Diego County store in The
Forum this September. The yoga inspired athletic apparel company sets the
bar in technical fabrics and functional designs for men and women, working
closely with local athletes and yogis to maintain the highest quality of
fitness apparel.

More on Thomas Enterprises

Thomas Enterprises' philosophy with The Forum at Carlsbad is also evident
in the success of the many other centers it has developed and still
manages throughout the country. These include The Forum on Peachtree
Parkway in Norcross, Georgia; Ashley Park in Newnan, Georgia; Dothan
Pavilion in Dothan, Alabama; Pavilion at La Quinta in La Quinta, Calif.;
and The Rim in San Antonio, Texas. Thomas Enterprises is in planning on
The Railyards, a 240-acre mixed-use high-density revitalization of
Sacramento's historic Union Pacific railyards.

Founded in 1987 by Stan Thomas, Thomas Enterprises is a visionary real
estate development company that specializes in creating dynamic places
where commerce, life and leisure intersect. Capabilities encompass
master-planned communities and mixed-used projects, as well as retail,
hotel, residential and office developments. The company has developed more
than 25 million square feet of retail property valued at $4 billion, plus
owns more than 20,000 acres of prime, developable land throughout the
United States. For more information, visit www.thomasent.com.

CONTACT:
Sandra Grove/Mary Haney
The Grove Agency, Inc.
858-751-5959
Email Contact

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