GLEN ROCK, NJ, MAY 9, 2006 — The Goldstein Group, New Jersey’s leading full-service retail brokerage firm, has recently completed its Paramus Vacancy Survey and reports a 6.2% vacancy rate specifically on the Route 4/Route 17 Corridor. This low vacancy rate indicates a very tight retail market in Paramus, with available space very difficult to find.

The survey, which was completed in March 2006, analyzes all properties within the highway corridors of Routes 4 and 17, encompassing over five million square feet of retail space excluding the five regional malls. The report focused on over 200 properties. Each individual property was researched by Goldstein’s team of research professionals.

According to The Goldstein Group’s analysis, Route 17 contained over 3.4 million square feet of space with a vacancy rate of 5%, while Route 4, which encompassed over 1.6 million square feet of space had a vacancy rate of 8.9%. Some of the biggest blocks of space currently available include the former Levitz of over 74,000 square feet on Route 4 and the former Treasure Island space of 23,000 square feet on Route 17.

“With the current market trends, 2006 is proving to be another good year for retailers who call Paramus home”, stated Chuck Lanyard, Principal and Director of Brokerage Services of The Goldstein Group. “We also feel that much of this vacant space will be quickly absorbed by retailers looking for premium store locations. Having a presence in Paramus is practically a prerequisite for national retailers, and an essential part of their growth strategy. Paramus is one of the most desirable retail locations in the country due to its location at the crossroads of several New Jersey highways, its commuter traffic to and from Manhattan, and its high household incomes throughout the region.”

With a population of over 600,000 within a five mile radius, Paramus annually records the largest dollar volume in retail sales – more than $5 billion – than any other zip code in the United States. Paramus attains this astounding figure even though its Blue Laws restrict stores from opening on Sundays.

During 2005, Paramus welcomed Bed Bath and Beyond, Christmas Tree Shops and Sports Authority at the IKEA property, which is located at the intersection of Route 4 and Route 17 along with Citibank and Loehman’s Shoes on Route 4. In 2006, Raymour & Flanigan plans on opening a store at the former Sports World on Route 17, while Trader Joe’s will occupy a portion of the Office Depot space on Route 17 Golf Galaxy recently opened in the former Barnes & Noble space on Route 17 and Bob’s Furniture is renovating a Route 17 property.

Vornado Realty is in the process of transforming the Bergen Mall into the “Bergen Town Center” and has announced that Target, Century 21 Stores and Whole Foods have committed to the project. The Shops at Riverside Square is relocating Bloomingdale’s Furniture to a free standing building and will add over 170,000 square feet of space which will include new restaurants such as P F Chang’s Restaurant, Maggiano’s Little Italy Restaurant and Rosa Mexicano Restaurant. The Garden State Plaza anticipates adding a 160,000 square foot addition to include a 16 screen movie theater along with restaurants and stores.

“Since Paramus is a retailer’s “oasis”, several years ago we created “Team Paramus”” added Lanyard. “Now our brokers are connected with all the landlords and tenants on these retail corridors. Thus, we are aware of stores becoming available and can secure space for our clients. Recently, we have closed more than 60 transactions in excess of $150,000,000 of aggregate value on the Paramus corridors. The Paramus market is unique in that over 25 retailers have non mall locations on both highways. The highways are treated as individual markets. In some ways, people say so goes Paramus …. so goes the retail market of the country.”

The Goldstein Group, New Jersey’s leading full service retail real estate brokerage firm is celebrating its 20th anniversary. The Company provides a wide range of services including landlord and tenant representation focused on leasing, sales, development, property management and financial services. The Goldstein Group currently represents over 8 million square feet of retail properties and over 50 national and regional retailers. Through its partnership with the Retail Brokers Network, the Company provides extended market coverage throughout the United States. Founded in 1986, the firm is headquartered in Glen Rock, New Jersey.

For more information, please contact

Chuck Lanyard at 201.703.9700, extension 15