Target to Open at Shea Properties The Collection at RiverPark

Oxnard, CA, August 12, 2010 --(PR.com)-- Target, the nation’s third largest retail company, announced that it will open a new 150,000 square foot store at The Collection at RiverPark. Target joins the three already named anchors, Whole Foods Market, REI and Century Theatres, at the open-air, specialty retail center just off Highway 101 in Oxnard. The new store will cater to the everyday needs of the residents of RiverPark and surrounding communities.

Although construction is just beginning, Target is looking to open in the summer or fall of 2011. "We couldn’t be more enthusiastic about Target coming to The Collection," says Colm Macken, Chief Executive Officer for Shea Properties, managing entity for Riverpark Collection, LLC, project developer. "Adding Target will, without a doubt, strengthen the center. It will generate more day time trips, attract a more discerning shopper and complement the other anchors."

Shea Properties took the necessary time to make sure that Target was well integrated into the retail center. "Adding 150,000 square feet of retail to the center was not an easy process," says Macken. "And we wanted to make sure we did it in a way that enhanced the experience for our customers and retailers." Shea Properties also announced that the overall opening of the retail center would be moved to the fall of 2011 to align with the expected Target opening.

Although the retail market has been a challenge over the last couple years, interest in The Collection has remained steady. "Retailers put expansion plans on hold while the economy recovered," says Macken. "We now believe that they’re in a better position to expand." Macken sees that the market is improving as consumers are beginning to respond—and Target’s plans to open at The Collection is a sign that retailers are feeling the same.

The other anchors, Whole Foods, REI and Century Theatres, are anxiously awaiting the project’s opening. Patrick Bradley, Regional President of Whole Foods Market, Southern Pacific Region says, "We are very excited about our new location for Whole Foods Market at The Collection in Oxnard. We look forward to the opening of this great new store that will help us further serve Ventura County in addition to our current Thousand Oaks location."

Shea Properties also remains committed to the project in Oxnard. "The Shea family of companies has been around since 1881. We have made it our practice to look at our developments as long-term investments," says Macken. "The Collection is a special retail center and there’s nothing like it in the area. It’s so much more than just a place to shop. It will become the community’s gathering place, a place for families and traditions, and we remain excited about its opening."

Dr. Thomas E. Holden, Mayor of the City of Oxnard, summed it up best. "Although the recession has been difficult on everyone and is at the heart of The Collection’s delayed opening, we know that ultimately it will be a great success. A lot of thought and care went into the making of this center and once completed, it will be a center that our community can be extremely proud of."

For more information regarding The Collection, please visit SheaProperties.com/TheCollection.

About The Collection (www.sheaproperties.com/thecollection)
The Collection at RiverPark is a 650,000 square foot, open-air, specialty center located along Highway 101 in the heart of West Ventura County. Slated to open in October of 2011, the center will be anchored by Target, Whole Foods, REI and a 16-screen Century Theatre complex. The center is situated along the 101 with tremendous visibility and easy access off Oxnard Boulevard. The center will incorporate 60,000 square feet of unique office space above the retail on the main street as well as an extensive public art program and LEED certification.

About Shea Properties (www.sheaproperties.com)
Shea Properties is a leading real estate development and investment company headquartered in Aliso Viejo, CA. Since its inception, operating revenues have grown from $17 million in 1984 to more than $200 million in 2009. During that time, the value of the Shea Properties portfolio has grown from $150 million to more than $2 billion. Shea Properties currently owns and operates nearly 6,400 apartment units and 6 million square feet of office, industrial and retail space in California, Colorado and Arizona. The development pipeline holds an additional 2,200 apartment units and 2.5 million square feet of commercial space. In concert with sister company, Shea Homes, the nation's largest private home builder, Shea Properties offers a range of capabilities matched by few other developers in the industry.

Contact:
James Williams
Shea Properties
949.389.7283
james.williams@sheaproperties.com

Address:
130 Vantis
Suite 200
Aliso Viejo, CA 92656

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