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New Market To Open In Vail's Crossroads Center

VAIL, CO (April 3, 2006) - A new grocery and convenience market, Crossroads Market, will open in Vail Village this June. Crossroads Market will replace Clark's Market until the shopping center is razed in 2007.

"The creation of new and exciting projects in the area has caused some inconvenience for Vail citizens and visitors. We're making every effort to minimize that disruption of services and believe it is imperative to maintain a grocery store in the area," said Robert McNichols of Daedalus Real Estate Advisors.

McNichols is the owner and developer of Crossroads Market and the One Willow Bridge Road project now under construction. Upon completion, One Willow Bridge Road will include a unique market concept, Marketplace on Meadow Drive.

Crossroads Market will be located within the retail space currently occupied by Clark's Market which is scheduled to close April 15. Some interior renovations will be made to the space and Crossroads Market will open this June. The plan is for the new market to be in operation until the Crossroads building is demolished in 2007 making way for construction of the new Solaris project.

The Solaris multi-use project will include Marketplace, too!, another Daedalus development, offering the grocery and convenience store services to be included in the Crossroads Market.

Crossroads Market will offer fresh grocery items, dry goods and sundries merchandise. In addition, the Market also will provide a variety of other merchandise from popular local vendors such as fine baked goods, fresh flowers, books and periodicals, cards and gift items. An upgraded deli & caf? area will feature soups, salads, sandwiches and an array of take-away prepared foods. A coffee bar also will be included in the store design. Caf? seating will be available so customers can choose to stay and dine in the market.

"Crossroads Market, which we view as a transition store, will be a unique retail amenity to Vail Village and a market testing vehicle for Marketplace on Meadow Drive store," said Peter Wilson, general manager of Crossroads Market and Marketplace on Meadow Drive.

Comprising approximately 6,000 square feet on the ground floor of One Willow Bridge Road, Marketplace on Meadow Drive will feature gourmet groceries and prepared foods, deli service, coffee and baked goods, a sweet shoppe with a crepe bar, gelato and smoothies, a wine and tapas bar, a spirits store and unique gifts with an upscale village atmosphere throughout. Marketplace on Meadow Drive is planned to open by year-end 2006.

"We plan to offer an expanded grocery experience in Crossroads Market and begin fine-tuning our ideas, recipes and staffing for Marketplace on Meadow Drive. Many of the items offered will be included in the gourmet store. Crossroads Market is a great opportunity to provide temporary grocery services to the residents while getting to know our new customers," explained Wilson.

Crossroads Center owner and developer of the new Solaris project, Peter Knobel, said, "I believe this is a great solution to help bridge the community through our redevelopment phases. I'm very pleased that Crossroads Market will continue to serve Vail customers over the next year."

For more information about Crossroads Market, contact Peter Wilson at 970.471.9494.

Project Summary - Crossroads Market

Business Description: A 4,500-square foot market with fresh grocery items, dry good, sundries and specialty items to operate in same space previously occupied by Clark's Market at Crossroads Center.

Background: Clark's Market, the existing market in Crossroads Center, is currently the only grocery and convenience market in Vail Village. Previous operators in the space were Village Market and Alfalfa's.

Crossroads Center has long served the Vail market with a movie theater, commercial space, ground level retail, and condominium units above. Its convenient location on Meadow Drive in Vail Village serves Vail resident and visitors alike. Built in 1973, Crossroads was purchased in 2003 by a local resident and developer, Peter Knobel, with plans to redevelop the property. Included in the plans are luxury condominiums, a public plaza with free ice-skating, 55,000 square feet of retail and restaurant space, a three-screen movie theater and bowling alley. The project is named Solaris. Town of Vail Council approved the development plans for Solaris on March 21, 2006. The demolition of Crossroads is scheduled to begin mid-April 2007. Solaris is planned to open 2009.

Owner/Developer: Robert M. McNichols
Daedalus Real Estate Advisors, LLC
McNichols is the owner and developer of One Willow Bridge Road and Marketplace on Meadow Drive.

General Manager: Peter Wilson
Wilson will serve as General Manager of Crossroads Market and Marketplace on Meadow Drive. He has 30 years of experience in the food industry from high-end gourmet to fast food, food manufacturing and distribution including Elitch Gardens in Denver, Reese Organization & RA in New York City, The Franciscan in San Francisco, Odwalla Juice and Otis Spunkmeyer.

Landlord: Peter Knobel
Crossroads Center / Solaris

Project Timeline

April 15, 2006 CLARK'S MARKET closes (in Crossroads Center)

June 2006 CROSSROADS MARKET opens (in Crossroads Center)

(in One Willow Bridge Road)

April 2007 CROSSROADS MARKET closes (Crossroads redevelopment begins - new project name SOLARIS)

Spring 2009 SOLARIS opens. MARKETPLACE, TOO! at Solaris opens.

About Crossroads Market
Crossroads Market is a new market located in Crossroads Center. Developed by Daedalus Real Estate Advisors, Crossroads Market features fresh grocery items, dry goods, sundries, a deli and caf? and specialty items including fine baked goods, fresh flowers, books and periodicals, cards and gifts.

About Marketplace on Meadow Drive
Marketplace on Meadow Drive is a unique market concept located on the ground floor at One Willow Bridge Road featuring gourmet groceries and prepared foods, deli service, coffee and baked goods, a sweet shoppe with a crepe bar, gelato and smoothies, a wine and tapas bar, a spirits store and unique gifts with an upscale village atmosphere throughout. Marketplace on Meadow Drive is another Daedalus development.

About One Willow Bridge Road
One Willow Bridge Road is one of the first new developments as part of the Town of Vail's "Billion Dollar Renewal". The private residence club is the first of its kind in Vail Village and offers opportunities for whole or fractional ownership of two, three and four bedroom units to an elite group of consumers. One Willow Bridge Road offers state-of-the-art amenities and exclusive resort management services by the world-famous Sonnenalp Resort of Vail. One Willow Bridge Road is another Daedalus development. For more information, visit www.onewillowbridgeroad.com.

About Daedalus Real Estate Advisors, LLC
Daedalus Real Estate Advisors, LLC, is a Phoenix based commercial real estate services company that provides investment, development and communications consulting to corporate real estate clients. Recognized consistently as one of the state's most influential developers by Arizona Business Magazine, Daedalus creates exclusive lifestyle experiences through office, industrial, retail, golf and residential development. For more information visit www.daedalusllc.com.

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