December 5, 2003

AXIS PROPERTY ADVISORS RETAINED TO LEASE
THE WOODLANDS MALL EXPANSION OFFICE SPACE

THE WOODLANDS, TEXAS…Axis Property Advisors has been retained by General Growth Properties to lease 40,000-square-feet of Class A office space currently under construction in The Woodlands Mall expansion, The Woodlands, Texas. The office space, located on the second floor of the mall expansion, is scheduled to be completed in the spring of 2004. Scot Ison and Nelson Udstuen of Axis Property Advisors will handle the assignment.

"The Woodlands is one of the most active office markets in the Houston area. The mall's central location and its amenities will attract office users from The Woodlands as well as the surrounding area," says Scot Ison, president, Axis Property Advisors.
The Woodlands Mall, at IH 45/North Freeway and Lake Woodlands Drive, will total 1.3 million square feet with the 150,000-square-foot office and retail expansion. The mall will also connect to The Woodlands Waterway, a river walk development in the community's center. The expansion will be an open-air, lifestyle retail center.

Axis Property Advisors is a Houston-based commercial real estate company.