Madison Marquette Recapitalizes Broadway Market with LaSalle Investment Management Joint Venture

Retains Management and Leasing of 140,000 Square Foot Mixed-Use Urban Center

SEATTLE, WA (March 28, 2010) – Madison Marquette announced today a joint venture with LaSalle Investment Management to recapitalize Broadway Market, a 140,000 square foot mixed use urban center in the Capitol Hill neighborhood of Seattle, Washington.

“Broadway Market has always been a high performing center as the surrounding Capitol Hill community continues to strengthen and grow,” said Eric Hohmann, Managing Director of Investments of Madison Marquette.

The center’s retail line-up includes Urban Outfitters, upscale grocer QFC and Gold’s Gym.  The retail is contained on the first two stories of a 30-unit residential complex and garage parking for 235 vehicles.  Madison Marquette will continue to manage and lease the center under the joint venture agreement.  Madison Marquette and LaSalle Investment Management partnered on the development of Bay Street, a mixed use, urban village in Emeryville, California.

"We are very pleased to be expanding our relationship with LaSalle Investment Management," said Chad Eisenbud, Vice President of Investments of Madison Marquette.  "We are actively seeking new investment partnerships and investment opportunities throughout the Seattle region."

Broadway Market was redeveloped in 1987 and first acquired by Madison Marquette in 1999.  It is situated in one of the Pacific Northwest’s most densely populated neighborhoods.  The primary trade area encompasses 385,000 people with average household income of $93,000.  The population is also young, health-conscious and trendy.

“We are always reviewing opportunities to enhance the merchandising mix at Broadway Market,” said Richard Wolf, Senior Vice President of Leasing of Madison Marquette.

ABOUT MADISON MARQUETTE
Madison Marquette is a Washington, D.C.-based investor, developer and operator of retail and retail mixed-use real estate throughout the United States. The company specializes in creating unique retail destinations that respond best to consumer preferences. With regional offices in Seattle, Los Angeles, San Francisco, San Diego, Fort Lauderdale, Philadelphia, New York and Charlotte.  Madison Marquette seeks investment opportunities in growing markets. The company maintains a sophisticated in-house operating capability and oversees 18 million square feet of retail real estate. This diverse national portfolio includes many properties that Madison Marquette manages and leases on behalf of third-party owners. For more information about the company, please visit http://www.madisonmarquette.com.