Griffin Land Enters Lehigh Valley, PA Market

1. a division of Griffin Land & Nurseries, Inc.
For Immediate Release Griffin Center South
March 19, 2010 204 West Newberry Road
Bloomfield, CT 06002
For Additional Information Please Contact: T. 860-286-7660
Tim Lescalleet F. 860-286-7653
Senior Vice President www.grifland.com
860‐286‐7660
GRIFFIN LAND ENTERS LEHIGH VALLEY MARKET
PURCHASES 120,000 SF WAREHOUSE Acquires 51 acres of land for
industrial development
BLOOMFIELD, CT ‐ Griffin Land & Nurseries, Inc. (Griffin) and its real estate division, Griffin Land,
are pleased to announce the separate purchases of a 120,000 SF industrial warehouse located
at 871 Nestle Way, Breinisgsville, Lehigh Valley, PA and 51 acres of land zoned for industrial
development located off Fritch Drive in Lower Nazareth, Lehigh Valley, PA. These transactions
represent Griffin Land’s entry into the Lehigh Valley industrial real estate market and are the
first steps in its plans to expand its holdings outside of the company’s core Connecticut market.
“We are very pleased to have the opportunity to acquire these two properties in the Lehigh
Valley market.” said Michael Gamzon, Vice President of Griffin. “We have studied the market
for a number of years and these acquisitions provide Griffin with a strategic entry point to
become a long‐term owner, developer and property manager in the area. Both properties are
very well located, with excellent highway access in a strong industrial sub‐market“. Griffin
purchased these properties through separate auctions held by the bankruptcy trustee for the
estate of Opus East, a defunct subsidiary of a national developer.
871 Nestle Way, Breingisville
871 Nestle Way is a modern, warehouse facility built in 2007 with pre‐cast concrete panels, 28
foot clear‐height and 40 x 50 foot column spacing. The site has ample employee parking, a
generous truck court and additional trailer parking spaces. The building has excellent visibility
from I‐78 and easy access onto the Route 100 and I‐78 interchange. Nestle Way is home to
over 6 million square feet of industrial real estate, with tenants including Home Depot, Nestle
Pure Waters, DSC Logistics, Fisher Scientific, Tree of Life and RR Donelley.

2. Griffin Land Press Release
March 22, 2010
Page 3
871 Nestle Way is under a long‐term full building lease to Olympus Corporation of the
Americas, which has its corporate headquarters in nearby Center Valley, PA, and uses the
building as a distribution center for its medical products. “Olympus is a premier tenant in the
market and we are pleased to have them join our tenant roster, which includes leading
companies such as Westinghouse, Federal Express, UPS, Travelers, The Tire Rack, Pitney Bowes,
ABB, Connecticut Light & Power, and Eaton Corporation,” added Mr. Gamzon.
Mr. John DeMaio, Vice President of Operations for Olympus Corporation of the Americas
stated, “The Nestle Way warehouse is an important facility to us and is the optimal location for
our operation. We are pleased to have a long‐term owner as our landlord and look forward to
continue working with Griffin.”
Fritch Drive Land, Lower Nazareth
The 51 acre site in Lower Nazareth has approvals to build 2 warehouses of 301,000 and 228,000
square feet for a total availability of 531,000 square feet. We anticipate that each warehouse
will be constructed with pre‐cast panels and have ample parking. The site also has the
possibility of rail service from a Conrail line. The land is located off Brodhead Road in close
proximity to Route 22 and key Lehigh Valley highways. The Brodhead Road area (including the
towns of Lower Nazareth, Bethlehem Township and Hanover Township) is home to over 6
million square feet and includes tenants such as Americold, OSRAM Sylvania, Kraft foods,
Crayola and Walgreen’s.
Griffin expects to develop the site for build‐to‐suit opportunities and/or on speculation. “We
believe there is a shortage of modern, smaller format warehouses in the Lehigh Valley,
particularly in the Bethlehem sub‐market,” said Sean Bleiler, CB Richard Ellis, Inc., Senior
Associate. “We are excited that Griffin is bringing new inventory of this size to the market
which has only a few other available development sites and expect that there will be significant
demand for the space.”
“Griffin has a long history of developing buildings in the Hartford, Connecticut market both on
speculation and for build to suit opportunities” according to Tim Lescalleet, Senior Vice
President of Griffin Land. “We look forward to bringing our development, marketing and
building management expertise to the Lehigh Valley.”
Expansion strategy
The purchase of the warehouse and land for development in the Lehigh Valley represent the
first step in Griffin’s anticipated real estate expansion strategy into markets outside of
Connecticut. Griffin will continue to focus on strategic markets within a few hours drive of its
core Connecticut holdings – principally in the Northeast and Middle Atlantic States. Griffin’s
objective is to be a long‐term owner, developer and manager in the markets in which it enters,
with a focus on acquiring modern industrial properties ranging in size from 100,000 to 400,000
square feet and land for development of properties of similar size. Griffin will consider both
value‐added opportunities as well as stabilized properties. Mr. Michael Danziger, Griffin’s Chief

3. Griffin Land Press Release
March 22, 2010
Page 3
Executive Officer, added, “At the same time as we pursue opportunities in new markets, we will
continue to develop in our main industrial park in Connecticut, New England Tradeport, as well
as on other land we own. We have a strong balance sheet, including a number of unmortgaged
properties, and the ability to monetize certain of our non‐operational assets and land holdings,
all of which can be used to fund our future strategic investments.”
ABOUT GRIFFIN LAND ( www.griffinland.com )
Griffin Land is the real estate division of Griffin Land & Nurseries, Inc., a publicly traded
company (NASDAQ: GRIF). Griffin Land is the owner, and in most cases, developer of more
than two and one‐half million square feet of commercial space and its land holdings in the
Connecticut River Valley total more than 4,000 acres. Griffin Land is an owner operator
providing development, marketing, construction, and management of its portfolio.
Griffin’s major developments include the Griffin Center business park in Windsor and
Bloomfield, CT and the New England Tradeport industrial park in Windsor and East Granby, CT.
In addition, Griffin Land master plans and permits residential communities on certain of its land
holdings, one of which is Meadowood, a 296 unit master‐planned development in Simsbury,
Connecticut.
In addition to its real estate business, Griffin Land & Nurseries also operates a landscape
nursery business, Imperial Nurseries, Inc. ( www.imperialnurseries.com ) and has investments in
Centaur Media PLC and Shemin Nurseries.