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CONSTRUCTION UNDERWAY AT HASTINGS MARKETPLACE

7/23/2002

Hastings, Minnesota - Cub Foods has given North American Properties final approval to move forward with the construction of a 71,680 SF store to be located in a new shopping center known as Hastings MarketPlace located at the intersection of Highway 55 and General Seiben Road.

Construction began on May 29, 2002, with Firstar Bank being the construction lender. Cub Foods is expected to take possession of their store January 15, 2003 and open to the public on or before March 1, 2003. Other retail tenants expected to join Cub Foods include Caribou Coffee, Great Clips, Papa Murphy's and Ruby Tuesday, Ladies Workout Express, H&R Block, Subway, Maurice’s, and Hallmark Cards. Leases are currently being negotiated with them at this time.