PriceRite Renews with The Lightstone Group at PriceRite Mountainville Shopping Center in Allentown, Pa.

ALLENTOWN, Pa., Feb. 24, 2011 /PRNewswire/ -- The Lightstone Group, one of the largest private real estate owners in the country, announced today that PriceRite has signed a 33,800-square-foot 10-year lease extension at the newly dubbed PriceRite Mountainville Shopping Center, located on 4th Street in Allentown, Pa.

PriceRite, a subsidiary of Wakefern Food Corporation, is a Northeast-based chain of grocery stores that first opened its doors in 1995 in West Springfield, Mass., and has since grown to include locations in Connecticut, New York, Pennsylvania and Rhode Island. Their mission is to offer their customers "Impossibly, Inconceivably, Incredibly Low Prices Everyday" by finding the best deals and limiting the amount of stock, allowing savings to pass to their customers.

"PriceRite is literally priced right and has been a staple in the Allentown community for many years," said Jeffrey Dash, vice president of leasing for Lakewood, N.J.-based Lightstone Group. "Their commitment to low-priced goods every day of the week has brought them to where they are, and we're thrilled they decided to renew their lease for the second time, allowing them to feed the people of Allentown for another 10 years."

PriceRite Mountainville Shopping Center is a 118,000-square-foot shopping center located in a central location of bustling Allentown, where local residents take advantage of the many services the shopping center offers. For years it has been a one-stop shop for locals to find most of what they need, and the businesses are staples in the local community.

Other major tenants that call PriceRite Mountainville Shopping Center home are Retro Fitness, Family Dollar, Eckerd Pharmacy, Kmart, McDonald's and Autozone.

For more information on leasing opportunities at PriceRite Mountainville Shopping Center or throughout The Lightstone Group portfolio of office, retail and industrial properties, contact Jeffrey Dash at (908) 668-8300 or [email protected].

About The Lightstone Group

Founded in 1988, The Lightstone Group has grown to become one of the largest privately held real estate companies in the United States. Its diversified portfolio of industrial, office, retail and residential real estate assets includes 10 million square feet of commercial space and more than 8,000 multifamily units in 20 states and Puerto Rico.

The Lightstone Group manages its business through operating platforms, each focused on a specific real estate asset class. Headquartered in New York, The Lightstone Group employs more than 500 professionals. For more information, visit www.lightstonegroup.com.

SOURCE The Lightstone Group

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