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JFK Plaza, Waterville, Maine

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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 JFK Plaza on January 25, 2006.

JFK Plaza is a well-positioned community shopping center totaling 167,000 square feet that is located on Kennedy Memorial Drive, in Waterville, Maine. The property is less than one mile off Interstate 95 at Exit 27, which boasts a daily traffic count of over 30,000 vehicles per day. Kennedy Memorial Drive is a densely developed retail corridor that links downtown Waterville with the Maine Turnpike, as well as the more rural communities to the west, making it one of the most heavily traveled roadways in the area.

Waterville lies about twenty miles north of Augusta, the state capital, and is centrally situated in the heart of Central Maine, within an hourís drive of Sugarloaf USA Ski Area and the Maine coast.

JFK Plaza is anchored by a Hannaford Brothers grocery store in 44,623 square feet and L.L. Bean in 77,950 square feet. Hannaford Brothers is the leading grocer in New England with 142 stores, and 46 stores in Maine alone. This location in particular produces outstanding sales results. Other tenants include JoAnn Fabrics, RentWay and CitiFinancial. There is potential to increase value via the re-leasing of the currently vacant small store space.

The shopping center was built in 1969, and was extensively renovated for the expansion of what is now the L.L. Bean store, and then again in 1996 with the addition of Hannaford. It has extensive frontage and excellent visibility along Kennedy Memorial Drive.