Vornado to Sell San Jose, California Power Center

  Vornado to Sell San Jose, California Power Center

Business Wire

PARAMUS, N.J. -- February 13, 2013

VORNADOREALTYTRUST(NYSE:VNO) announced today that it has entered into an
agreement to sell The Plant, a power strip shopping center in San Jose,
California for $203 million. The sale will result in net proceeds of
approximately $93million, after repaying existing debt and closing costs, and
a financial statement gain of approximately $33million. The sale, which is
subject to customary closing conditions, is expected to be completed by the
second quarter of 2013.

Vornado Realty Trust is a fully integrated equity real estate investment
trust.

Certain statements contained herein may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, risks
associated with the timing of and costs associated with property improvements,
financing commitments and general competitive factors.

Contact:

For Vornado Realty Trust:
JOSEPH MACNOW, 201-587-1000
 
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