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Diamond Hill Plaza, Woonsocket, Rhode Island

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WP Realty, a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Pennsylvania, is pleased to announce the acquisition of Diamond Hill Plaza on February 27, 2006.

Diamond Hill Plaza is a well-located community shopping center totaling 386,000 square feet that is situated on Diamond Hill Road (Route 114) in Woonsocket, Rhode Island. Route 114 is a busy thoroughfare populated by a wide array of national retailers, including Wal-Mart, Sears, Shawís Supermarket and CVS. Diamond Hill Plaza is the dominant shopping center in the area, which is known as the Diamond Hill Shopping District. It has excellent access and visibility via two signalized intersections.

The city of Woonsocket is conveniently located within commuting distance to Providence, the state capital 14 miles to the south, and is in a central position between Providence, Boston and Worcester. The city has direct interstate connection to Route 146 and I-295 by the new Route 99 Woonsocket Industrial Highway.

Diamond Hill Plaza was originally built in 1971. In 2001, a freestanding 165,000 square foot Loweís Home Improvement Center was constructed on an adjacent parcel. The property is also anchored by Burlington Coat Factory, Price Rite Supermarket and Staples. There are three pad sites housing McDonaldís, Milford Federal Savings Bank and Papa Ginoís restaurant. The center is currently 90% occupied.