NEWS - 2002

GIBSON, DUNN & CRUTCHER RENEWS LEASE AND EXPANDS AT
WASHINGTON SQUARE

Washington, D.C., July 11, 2002 - Lerner Enterprises and The Tower Companies both of North Bethesda, Maryland announce the long-term lease extension and expansion of the office of the law firm of Gibson, Dunn & Crutcher LLP at Washington Square, 1050 Connecticut Avenue, N. W., Washington, D. C.

Gibson, Dunn & Crutcher will now occupy three full floors of the building totaling 147,396 square feet bringing the building to full occupancy.  Gibson, Dunn & Crutcher has been a tenant at Washington Square since 1983.

Washington Square is an award-winning one million square foot Class "A" office building located in the heart of the CBD at Connecticut Avenue and L Street.  In addition to Gibson, Dunn & Crutcher, major tenants include Arent Fox Kintner Plotkin & Kahn; McGuire Woods Battle & Boothe; Baker & Hostetler, Salomon Smith Barney, Bessemer Trust Company, Regus Business Centre and Morton’s of Chicago Steakhouse.

The Owner, Washington Square Limited Partnership, LLP, was represented by Jeffrey K. Diamond and Brian F. Tucker of Diamond Property Company of McLean, Virginia.  Gibson Dunn & Crutcher LLP was represented by Elizabeth K. Cooper and Gregory P. O’Brien of The Staubach Company-Northeast of Washington, D.C.

Lerner Enterprises, founded by Theodore N. Lerner, is one of Washington, D.C.’s largest and most successful real estate developers. Lerner is involved in all phases of office, retail, hotel and residential real estate including acquisition, development, leasing and asset management.  Lerner Enterprises has developed and currently manages through its leasing and management affiliate, Lerner Corporation, more than fifteen million square feet of office, retail and residential space.

Among developments included in its office portfolio are The Corporate Office Centre at Tysons II in McLean, Virginia; The Corporate Office Park at Dulles Town Center in Dulles, Virginia; 400 Army Navy Drive in Pentagon City, Virginia; 7799 Leesburg Pike in Tysons Corner, Virginia and White Flint North in North Bethesda, Maryland.

The Tower Companies commitment to creating successful communities and workplaces has been Tower’s driving force for over 40 years.  Founded by Albert Abramson, The Tower Companies are a national leader in the development of high-tech, environmentally friendly "smart/green" buildings.  Local Tower sites of note are The Tower Building in the Tower Oaks park off I-270 in Rockville; White Flint Mall; Bethesda Place and a headquarters building for MCI.  The Tower Companies also developed River Creek, a 1200-home, gated golf course community on the Potomac River in Loudoun County, Virginia.

Additional information is available on the following websites:
TowerCompanies.com
GibsonDunn.com

Washington Square
1050 Connecticut Avenue, NW
Washington, DC 20036
Telephone: 202.296.2800   Facsimile: 202.452.1946
WashingtonSquare@Lerner.com


Disclaimer: All property descriptions and related information are for illustrative purposes only.

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