Madrona Bay Initializes Plans for Bakerview Square Phase 4

BELLINGHAM, WA. June 20, 2008 – Madrona Bay Real Estate Investments has initialized the planning for final phase of the highly successful Bakerview Square in Bellingham, WA.

As part of the completion of Bakerview Square, Madrona Bay Real Estate Investments, LLC (Madrona Bay) has finalized plans for the construction of Phase 4 of the Square, which is the final phase of the project. To date, Bakerview phases 1, 2 and 3 are complete and nearly all of the spaces of the 63,831 square feet of leasable space are currently leased.

The final phase of Bakerview Square will add approximately 48,200 square feet of leasable space to the already completed phases. As designed, the building will feature 4 retail spaces, 8 office spaces split across two levels, and one large retail space of 00,000 square feet. In addition, the phase will add 000 parking spaces to Bakerview Square.

“When Bakerview Square was designed, it was always a multi-phase project,” says Morgan Bartlett of Madrona Bay Real Estate Investments of Bellingham, Washington. “Now that phases 1, 2 and 3 are nearly all leased, it is appropriate timing to look at starting the final phase.” Bartlett is still finalizing details regarding the project timeline, which he will release soon.