SNYDERS DRUG STORE TO OPEN 12,000-SQUARE FOOT STORE IN BLOCK e

NEW ADDITION TO BLOCK e DESIGNED TO MEET NEEDS OF THE DOWNTOWN OFFICE WORKER, RESIDENT AND VISITOR FROM FULL-SERVICE PHARMACY TO SODA FOUNTAIN AND MORE

Minneapolis, MN (January 21, 2003) — Snyders Drug Stores will open this spring in 12,000 square feet as an anchor tenant in Block e, downtown Minneapolis.

“Snyders as a long time Twin Cities retailer is thrilled to make this commitment to the revitalization of the downtown area,” says Leland Clark, Snyders Vice President of Real Estate and Store Development.

With convenient street access on Hennepin Avenue, in addition to skyway level access via escalators, the new street level Snyders Drug Store combines the offerings of a full-service pharmacy, convenience store, along with a vast array of toiletries, cosmetics and services for the booming downtown Minneapolis community comprised of office workers, visitors and tourists, and a growing residential population, according to Clark.

“We are delighted to welcome Snyders Drug Store to our tenant mix in Block e,” says Block e General Manager Sue Bonin. “We want to offer convenience, affordability and easy access to everyone who works, resides or visits downtown Minneapolis, Block e is now a destination for anyone who works, visits or lives downtown. The accessibility via the Target and City Center Skyways is ideal and Snyders presence will be a perfect complement to the adjacent 260-room luxury Le Meridien Art + Tech Hotel that opens in April, she adds.

With all this in mind, this Snyders will offer goods and services “well beyond the basics,” according to Clark.

The new Block e Snyders will feature a soda fountain, convenience dairy section, frozen entrees, ice cream novelties, luncheon meats, and additional food and household staples. Also included will be a full-service pharmacy, an extensive card and gift selection and large cosmetics area featuring a vast assortment of bath and body products, along with related items ranging from perfumes to pantyhose. Additional amenities offered will include one-hour photo processing, copy print stations, Western Union / Money Orders and among other timesaving customer services.

For the past 71 years, Snyders has been building its own success story. As the leading chain drug store in Minnesota, the company has grown to become a major economic force in the upper Midwest. Snyders history dates back to 1928 when Max P. Snyder had a cigar store in downtown Minneapolis, carrying a small variety of items to satisfy his customers. By 1931, the store was carrying pharmaceuticals as well and soon became know as a cut-rate drugstore rather than a cigar store. On June 30, 1939, Snyders Drug Stores, Inc. was officially incorporated. Snyders continues to grow steadily today.

Today corporate and independently owned Snyders are located in Minnesota, Wisconsin, Iowa, Illinois, South Dakota, Michigan and Montana. There are currently 60 Snyders Drug Stores in the Twin Cities.

Block e is located at 600 Hennepin Ave. S., between Hennepin and First Ave. and 6th and 7th Sts. The Block e parking ramp is accessible on 7th St. between Hennepin Ave. and First Ave.

About McCaffery Interests, Inc.
Chicago-based McCaffery Interests, Inc., was founded in 1991 and is a nationally recognized developer of quality urban retail and entertainment centers. In addition to the Block E development, other current projects include The Market Common, Clarendon, a 10-acre multi-use complex in Arlington, Va.

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Media Contact:
Pamela Austin
McCaffery Interests, Inc
Ph: (312) 944-3777 x-31
email me