Tuesday, June 17, 2008

EastGroup Properties Announces Second Quarter 2008 Conference Call and Webcast

JACKSON, MS-- EastGroup Properties (NYSE-EGP) announced today that it will hold its Second Quarter Conference Call and webcast on Thursday, July 24, 2008 at 11:00 A.M. Eastern Daylight Time.

On the call, David Hoster,(top right photo) President and CEO, and Keith McKey, (middle left photo) CFO, will review the second quarter results and discuss EastGroup's current operations.

EastGroup plans to release second quarter 2008 earnings on July 23, 2008. The earnings release and supplemental information package will be posted on the Company's website, www.eastgroup.net, on July 23, 2008.

A live broadcast of the conference call is available by dialing 1-800-862-9098 (conference ID EastGroup) or by webcast through a link on the Company's website at http://www.eastgroup.net/.

If you are unable to listen to the live conference call, a telephone and webcast replay will be available on Thursday, July 24, 2008. The telephone replay will be available until Thursday, July 31, 2008, and can be accessed by dialing 1-800-283-4783. The replay of the webcast can be accessed through a link on the Company's website at www.eastgroup.net and will be available until Thursday, July 31, 2008.

EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona and California.

Its strategy for growth is based on its property portfolio orientation toward premier business distribution facilities clustered near major transportation features. EastGroup's portfolio currently includes 25.1 million square feet with an additional 1.9 million square feet of properties under development.

David H. Hoster II, President and Chief Executive Officer
N. Keith McKey, Chief Financial Officer
P.O. Box 22728, Jackson, MS 39225-2728
Telephone: 601/354-3555. Fax: 601/352-1441

HFF Closes Sale of Leed-Certified Office Building in Legacy Building Park, Dallas, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of Denbury Park II, a LEED-certified, Class A office building within Legacy Business Park in Dallas, Texas.

The HFF investment sales team was led by senior managing director Barry Brown, managing director Todd Savage (top right photo) and senior real estate analyst John Bourret, who marketed the property on behalf of the seller, Koll Development Company.

KanAm Grund (KAG), on behalf of the KanAm US-grundinvest Fonds, purchased Denbury Park II for an undisclosed amount. KanAm Grund was assisted by Manish Bhatia and Gregory Moore at its U.S. subsidiary, KanAm Grund America, LP.

“This asset is a strategic addition to our portfolio in terms of creating a headquarters campus for Denbury,” said Bhatia and Moore of KanAm Grund America, L.P.

Completed in 2008 as a build-to-suit, Denbury Park II has 102,600 square feet of Class A office space that is 100% leased to Denbury Resources on a long-term basis. The property situated within Legacy Business Park in Far North Dallas.

“We sold Denbury Park last year to KAG for its KanAm US-grundinvest Fonds, so we believed KAG is the ideal buyer for this property as it already owns Denbury I. In the end, this was a true win-win for both parties involved,” said Brown.

The KanAm Group with its main offices in Munich, Frankfurt and Atlanta is one of Germany’s leading sponsors of international real estate funds. KanAm Grund Kapitalanlagegesellschaft mbH, headquartered in Frankfurt, Germany, was formed in May 2001 and is the first independent real estate investment company in the form of a Kapitalanlagegesellschaft in Germany.

It performs all of the functions of a special financial institution, including portfolio management and analysis, property acquisition, facility management, marketing, accounting and controlling. For more information, visit http://www.kanam-grund.de/.

Koll Development Company (KDC), one of America’s leading commercial real estate firms, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing.

Koll Development Company, headquartered in Dallas, has offices in Atlanta, Charlotte and Detroit.


Barry M. Brown, HFF Senior Managing Director, 214 265 0880. bbrown@hfflp.com

Todd W. Savage, HFF Managing Director, 214 265 0880. tsavage@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990. lmcdowell@hfflp.com

CBRE Recognizes Leed(r) Accredited Professional Suneeta Singh

TAMPA, FL- CB Richard Ellis recognizes Suneeta Singh (top right photo) on becoming a LEED Accredited Professional (LEED AP). Suneeta has been with CBRE for almost a year and during that time has become a valuable member of Tampa's Project Management team.

"Earning this accrediation shows one's commitment to and understanding of the LEED certification process," says Suneeta.

Suneeta earned her Masters in Construction Management from the University of Florida and has established a background in architecture, with extensive experience ranging from interior renovations to ground-up construction.

CBRE has taken a proactive role in guiding landlords through the LEED Existing Building (EB) program and incorporating LEED for Commercial Interiors (CI) into tenant build out scopes.

CONTACT: lmcrawford@cbremarketing.com

Morris, Manning & Martin Recognized for Excellence by Chambers USA, Legal 500

Broad Range of Practice Groups Earn Praise from Publications and Clients

ATLANTA, GA — Two prestigious and well known legal publications that rank the quality of legal services gave high marks to Morris, Manning & Martin, LLP, including more than a dozen of the firm’s partners.

The firm’s Real Estate group scored particularly well in both legal guides: Chambers USA and The Legal 500. Two attorneys — Gerald Pouncey (top right photo) (Environmental) and Jeanna Brannon (top left photo) (Real Estate) — received praise from both publications.

Chambers USA: America’s Leading Lawyers for Business, ranks Mr. Pouncey, who heads the firm’s Environmental Law and Land Use group, in the top tier of Georgia environmental lawyers. It describes the nationally-known brownfield attorney as “precise, disciplined and diligent” and “able to do the work of five lawyers.” It also hails his skill in creatively determining solutions for clients while resolving government concerns.

The Chambers guide describes real estate lawyer Ms. Brannon as “resolute, deal-oriented and persistent” and not afraid to fight on behalf of a client.

It also praises tax attorneys Charles ”Chuck” Beaudrot (middle left photo) and Cass Brewer, (middle right photo above Tom Gryboski) describing Mr. Beaudrot as “hands-on and client-oriented,” while Mr. Brewer “knows how to simplify very complex matters so that the ordinary businessman can evaluate them.”

It calls bankruptcy lawyer David Cranshaw a seasoned litigator who is “patient, persistent and flexible” with an excellent grasp of business.
The Chambers researchers also count MMM’s Tax, Real Estate, Environment, Corporate/Mergers & Acquisitions and Bankruptcy/Restructuring groups among the best in the state.

The Legal 500 — another influential legal publication, places MMM’s Real Estate Group in the top tier of recommended firms for the state of Georgia. Other ranked firms included King & Spalding and Sutherland.

The researchers also names several MMM partners “Recommended Lawyers.” Attorneys Tom Gryboski (bottom right photo) and Brian Butler (bottom left photo) from the firm’s Hospitality Group top the list. The guide hails them for their business sense, attention to detail and work ethic. The Legal 500 also calls environmental attorney Gerald Pouncey “remarkable,” and praises several other members of the real estate group, including Jeanna Brannon, who is described as “very dedicated.”

It recommends founding partner John “Sonny” Morris’ for his excellent legal skills and recognizes Bruce Wobeck, who also chairs the Green Business Technology Group, for his sense of practicality.
Nicholas Sears is described as having “a keen mind for analyzing problems,” said the researchers, who also strongly recommend Bob Reardon and Andrew Williams, as well as Corporate attorney Jeff Schulte.

Both Chambers USA and The Legal 500 are known for their independent, impartial research. Teams of independent researchers interview clients and competing attorneys, then base their rankings on merit alone. For more information on Chambers USA, visit http://www.chambersandpartners.com/. For more on The Legal 500, visit http://www.legal500.com/.

Media Contact: Terri Thornton, Thornton Communications, (404) 932-4347 territhornton@mindspring.com

Marcus & Millichap Lists 53,411-SF Retail Lease in St. Louis for $11.85M

ST. LOUIS, MO-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for the lease for a 53,411-square foot Shop ‘n Save in St. Louis.

The listing price of $11.85 million represents $222 per square foot.
John Perry, an investment specialist in the Dallas office of Marcus & Millichap, is representing the seller.
“This property features a newly executed 20-year triple-net lease, backed by a corporate guaranty through a $44 billion BB-rated company,” says Perry.

Located at 1144 Meramec Station Road, the single-tenant building was constructed in 2007 and is situated on 6.7 acres. The offering includes an existing cell tower leased to Global Tower, LLC.
Press Contact: Stacey Corso
Communications Department
(925) 953-1716

Jones Lang LaSalle and The Staubach Company Reach Agreement to Merge Operations

Strengthens leadership position by combining U.S. tenant representation expertise with global platform and Corporate Solutions business

(Colin Dyer, CEO of Jones Lang LaSalle, left, and Roger Staubach, executive chairman, Staubach Co. in top right photo.)

CHICAGO, IL and DALLAS, TX /PRNewswire-FirstCall/ -- Jones Lang LaSalle Incorporated JLL, the world's leading financial and professional services firm specializing in real estate, and The Staubach Company, the leading real estate services firm specializing in tenant representation in the United States, have reached a definitive agreement to combine operations.

The merger will reinforce Jones Lang LaSalle's global leadership by combining its integrated global platform and industry-leading Corporate Solutions business with Staubach's extensive tenant representation capability and deep presence in key markets in the United States.

Under the terms of the agreement, Jones Lang LaSalle will pay $613 million, with $123 million in cash and $100 million in stock paid at the transaction close and the balance paid out in cash over five years, for all of the outstanding capital stock of Staubach Holdings, Inc.

The agreement also calls for potential earn out payments of up to $114 million that are subject to the achievement of certain performance metrics measured over a period of up to approximately four and one-half years after the closing.

The transaction is expected to close in the third quarter subject to Hart-Scott-Rodino approval as well as other customary closing conditions. The transaction details have been posted on Jones Lang LaSalle's Web site, http://www.joneslanglasalle.com.

The transaction is expected to be accretive to earnings per share in 2009 and beyond, on a GAAP basis, as integration costs are fully expensed and debt and associated financing costs are reduced.

Transaction Highlights:

- - Complementary cultures characterized by client focus and collaboration
-- Highly structured transaction includes cash and stock consideration, majority of payments in cash deferred over five years.
-- Transaction expected to be EPS accretive in 2009

Greg O'Brien, (top left photo) currently Staubach's CEO, will be the CEO of Brokerage, Americas, leading the newly created business that will set strategic direction in tenant representation and agency leasing.

John Gates, (middle left photo) currently Staubach's President and COO, will serve as President of Brokerage, Americas. Both Greg O'Brien and John Gates will join the firm's Americas Executive Committee, which is headed by Peter Roberts, Jones Lang LaSalle's CEO, Americas.