Patient Care, Medical Training and Eye Research Group to Occupy 50 Percent of New, Medical/Professional Building Across from Former Blue Shield Facility

LATHAM (December 13, 2004) — Commercial real estate developer First Columbia today announced that the Lions Eye Institute (LEI) of Albany Medical Center — one of eight Lions-supported facilities in the United States that combine patient care, medical training and basic and clinical eye research — has signed a lease at its newest facility, 1220 New Scotland Road in Slingerlands.

LEI, the only program in the region that focuses its basic and clinical research on the causes and cures of eye diseases and blindness in the pursuit of new treatments to improve eye care, is the building's first tenant. It will move into 23,000-square-feet of space at the new medical/professional building in fall 2005. Groundbreaking on the $6.8 million, 45,000-square-foot site is set for Dec. 16 at noon.

Groups that comprise LEI represent the Albany Medical College Department of Ophthalmology and include: the Cornea Consultants of Albany, whose scope of practice focuses on corneal transplants, external and infectious diseases of the eye, cataracts, and refractive surgery; The Retina Consultants, PLLC/The Retina Research Center/The Retina Research Foundation, Inc., whose joint specialties include retina, vitreous, intraocular tumors, uveitis and neuro-ophthalmology; Children's Medical Eye Consultants, which concentrates in pediatric ophthalmology and strabismus; Glaucoma Practice of New York, PLLC; and, Ophthalmic Plastic Surgery.

"We're delighted LEI has selected to base its extensive eye care services at our facility," said First Columbia Vice President Mark Bette, whose firm constructed the adjacent Slingerlands Medical Arts Building, a 42,000-square-foot medical facility that was completed in 2000. "We look forward to fully leasing the building with additional medical and commercial tenants over the next eight months."

"1220 New Scotland Road is a great fit for LEI. It is spacious, enabling us to join our retina practice with a dedicated retina research center in which we will continue to conduct more than eight national studies each year," said Dr. Paul Beer, professor of ophthalmology at Albany Medical College. "Its central location and ease of access is also ideal for our patients and for our educational activities."

First Columbia plans to equip 1220 New Scotland Road with the latest technology, including a fiber optic telecommunications network allowing for video conferencing, high-speed Internet access and wireless networking. It will also feature abundant onsite parking and access to public transportation.