Dart Realty Announces New Commercial Building at Camana Bay

Fri Jun 7, 2013 1:08pm EDT

* Reuters is not responsible for the content in this press release.

CAMANA BAY, Cayman Islands, June 7, 2013 (GLOBE NEWSWIRE) -- Dart Realty (Cayman), Ltd. today announced plans for 18 Forum Lane, an 85,000-square-foot retail and office building, located at Camana Bay. With this addition, Camana Bay continues to expand its office portfolio, which now comprises 94 Solaris Avenue, 69 Forum Lane, 89 Nexus Way and additional garden offices in The Town Center.

"Our decision to develop Camana Bay's next substantial commercial and retail space now is a reflection of the market's positive reaction to our mixed-use community and continued confidence in the Cayman economy," said Jackie Doak, Chief Operating Officer of Dart Realty. "18 Forum Lane is good news not only for Camana Bay but also for the Cayman Islands as a project of this size will generate jobs and provide immediate economic stimulus."

18 Forum Lane is designed to achieve LEED certification, advancing Camana Bay's long-term focus on sustainability. From a solar array helping to provide energy savings of 20% to fully fit out spaces, which will help create 'plug and play' space for new tenants, 18 Forum Lane will be the ideal address for forward-thinking companies that are fuelling Cayman's economy.

"Mr. Ken Dart's vision for Camana Bay is for the town to grow organically over the long term, adapting to the economic, environmental and social concerns of the island," said Ms. Doak. "With more than 90% of the office space at Camana Bay leased, we are seeing demand from the corporate market for energy-efficient, flexible space which can accommodate business of varying sizes."

18 Forum Lane will include ground floor retail space and office space on three upper levels. Award-winning firm Lake|Flato of San Antonio, TX, is the project architect. The building is designed to be an integral part of the Town Center while paying homage to traditional Cayman building craft. One notable design feature will be metal cladding fabricated to resemble the distinctive corrugated zinc roofs that cover traditional Cayman cottages.

Another of 18 Forum Lane's signature design features is a central courtyard. Conceived as an outdoor room with ample shade by day and engaging lighting at night, this courtyard continues Camana Bay's commitment to maintain at least 30% of the town as open, public space. Lake|Flato partnered with OLIN, the original landscape architects for Camana Bay, to design outdoor spaces that encourage a vibrant urban experience brought to life by plants and trees endemic to Cayman.

For leasing information about 18 Forum Lane, please contact Vice President of Leasing Sloane Rhulen at sloane.rhulen@drcl.ky.

About Camana Bay

A destination within a destination, Camana Bay is a vibrant new town located in the heart of Grand Cayman. Stretching 500 acres from the famous Seven Mile Beach to the tranquil North Sound, this mixed-use master planned community opened in December 2007 and is one of the first examples of New Urbanism in the Caribbean. Developed by Dart Realty (Cayman) Ltd. in collaboration with an award-winning team of visionaries, including Duany Plater-Zyberk, Moore Ruble Yudell and OLIN Partnership, Camana Bay offers a unique mix of thoughtfully designed residential, commercial and public spaces, world-class shopping and dining, education and sports facilities plus family-friendly entertainment, events and attractions. Designed to grow organically over several decades, Camana Bay is now in the master planning phase for the town's residential communities.

For more information on Camana Bay visit CamanaBay.com, like Camana Bay Fan Page on Facebook or follow Camana Bay on Twitter.

The Camana Bay logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=14422

CONTACT: Media contacts:
         
         Hadley Creekmuir, The Wilbert Group
         Tel: 404-343-4080
         E-mail: hcreekmuir@thewilbertgroup.com
         
         Melissa Ladley, Dart Realty (Cayman), Ltd.
         Tel: 345-640-3371
         melissa.ladley@drcl.ky
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