2/9/1999

Palm Restaurant To Open Second Location In Washington, D.C. Area

McLean, Virginia (February 9, 1999) - Bruce Bozzi and Wally Ganzi announce the opening of a second Palm Restaurant in the Washington, D.C. area. The newest branch of the famous steak and lobster emporium will be located in Tysons II at 1750 Tysons Boulevard in McLean, Virginia. The opening is slated for this fall.

According to Alfred L. Thimm, Jr., Chief Operating Officer of Washington, D.C. based Palm Management Corporation, they "have been looking for a suitable second location in the Washington, D.C. area for quite some time. Lerner Enterprises' new office tower in the heart of Tysons Corner will give us an exciting opportunity to serve suburban Washington and its fast growing counties and businesses."

The new location will stay true to the original in terms of menu, style, and atmosphere, but with a more spacious dining room, a large barroom and state-of-the-art private function facilities. "We've learned a few things about restaurant design as we have expanded around the country. We are now thrilled to be able to do something really special in our Nation's Capital," said Thimm.

The latest Palm Restaurant will seat approximately 225 people and occupy 7,200 square feet. They will serve lunch and dinner and staff 75 employees. "The Palm at Tysons II" will hold court in the newest building in The Corporate Office Centre at Tysons II currently being developed by Lerner Enterprises.

1750 Tysons Boulevard, a 385,000 square feet, 18-story office building, is the next phase of the 117 acre, Tysons II development. This is Tysons Corner's most visible commercial property, at the intersection of Route 123 and Tysons Boulevard in McLean, Fairfax County, Virginia. The Tysons II development includes the 800,000 square foot Tysons Galleria, which is anchored by Saks Fifth Avenue, Neiman Marcus, Macy's, the 400 room Ritz-Carlton Hotel, the award-winning 375,000 square foot office tower at 1650 Tysons Boulevard, and Lillian Court, an award-winning condominium project. Planned for a March delivery, 1750 Tysons Boulevard will be connected to the Galleria, 1650 Tysons Boulevard and the Ritz-Carlton with climate controlled walkways. An additional 2.5 million square feet, including eight additional office buildings, are scheduled to be developed on site. The next planned building known as 1600 Tysons Boulevard, will be a 13-story 295,000 square foot office tower. Construction is scheduled to begin this summer.

Lerner Enterprises, based in North Bethesda, Maryland, was founded in 1952 by Theodore N. Lerner. As one of the largest developers in Washington, D.C. area, it is involved in all phases of commercial and residential real estate, including planning, construction, leasing, asset and property management. "We are very proud to have the Palm in our new office tower. It will be a wonderful addition to the entire Tysons II project," says Alan H. Gottlieb, Managing Director of Lerner.

Palm Restaurants are "seen-and-be-seen" spots and their reservation lists read like a "who's-who." The Palm is perfect for everything from a power lunch or private dining function, to a romantic dinner for two. Whether at the bar or in the dining room, you're just as likely to be seated alongside a famous politician, celebrity or sports star as you are a tourist or a Washington local. The walls of the new Palm at Tysons II will be festooned with the Palm's signature caricatures of local patrons and national celebrities.

Founded in 1926, Palm Restaurants are a third generation family-owned restaurant company. Famous for its prime-aged steaks and jumbo lobsters, the company currently enjoys a loyal customer base in 15 cities across the nation, including: Atlanta, Boston, Charlotte, Chicago, Dallas, Denver, East Hampton, Houston, New York, Las Vegas, Los Angeles, Miami, Philadelphia, San Juan, and Washington, D.C.