Charter Realty & Development Corp. is pleased to announce it has acquired Westgate Shopping Center located on Congress Street in Portland, Maine. Shaw’s Supermarket, CVS, and Advance Auto anchor the 91,000 square foot center. Charter has a full renovation and expansion planned for the center. A new façade package, along with redeveloped parking lot and lighting package are planned.

Charter will be adding 2 out-parcels and reconfiguring the existing retail space so several small stores will become available. The renovation work is set to begin in the spring and will be completed by the end of 2008. The center is located in the heart of the Portland population with over 140,000 people living within the trade area.

Charter Realty currently owns or leases over 13,700,000 square feet of shopping centers throughout the Northeast.

For more information contact Dan Zelson, Charter Realty & Development Corp., 183 Main Street, Westport, CT 06880, office (203) 227-2922, fax (203) 227-8388. For additional information on our company and project, access our website at www.chartweb.com.