Simon Property Group Increases Segway(R) PT Fleet for Security Patrols

(Above photo shows segway transporter units in use by local police at Segway Mall in Indianapolis, IN)

Company Now Has Over 225 Units Deployed at More Than 125 Shopping Malls Nationwide

(Simon-owned Arsenal Mall at Watertown, MA is at top left)

INDIANAPOLIS, May 12, 2008/PRNewswire/ -- Simon Property Group, Inc. (NYSE:SPG) and Segway Inc. today announced that Simon Property Group has made a substantial purchase of additional Segway Personal Transporters (PTs) that will increase its current security fleet of Segway PTs to more than 225 machines.

Simon now uses Segway PTs at more than 125 shopping malls in the United States, making it the largest deployment by any company in the shopping center industry.

Among the cities in which Simon Property Group now uses Segway PTs for mall security are San Diego, Las Vegas, Houston, Miami and Boston.

The majority of Simon's fleet consists of the same latest-generation Segway model (i2) recently adopted by the New York City Police Department and numerous international airports.

Simon Property Group first began its investment in Segway PTs for mall security patrols in 2004 with a trial program at mall locations in Texas.

Based upon that successful pilot program, Simon pioneered the use of Segway PTs in retail security by broadening its deployment of Segway PTs and implementing specialized training programs that instructed security personnel on how to use the units in a mall environment. (Photo of Simon-owned Copley Place Mall in Boston is at lower right.)

By 2006, Simon had initiated a national Segway rollout to its properties."From day one of our Segway PT program, our goal has been to give our security personnel the tools they need to ensure that our mall guests and retail partners have a safe and enjoyable experience," says John Petruzzi, Vice President of Corporate Security and Emergency Management at Simon Property Group.

"They have increased the visibility and range of our security personnel, and enabled them to swiftly respond to emergency situations wherever they might occur. (Photo of Simon-owned Fashion Valley Mall in San Diego is at lower left)

"The entire initiative has been very well received by our security personnel, our retail partners and millions of our mall guests. An added benefit is the social interaction between security personnel on Segway PTs and members of the public who are naturally drawn to them out of curiosity."

"Worldwide, hundreds of police and security agencies have adopted the Segway PT for their patrolling, emergency response and community policing needs. According to Jim Norrod, CEO of Segway Inc., much of the momentum that Segway now experiences in the security sector is the result of innovators like Simon Property Group.

"Very early on Simon recognized the potential of Segway PTs to make security personnel more effective, and they took great care in seamlessly integrating them into their operations," says Norrod. "As with every facet of their business, Simon delivers a premium level of service to its customers and retail tenants, and we are extremely proud that they continue to choose Segway products to ensure that their security remains world class."

Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers(R), The Mills(R), community/lifestyle centers and international properties.

It currently owns or has an interest in 382 properties comprising 260 million square feet of gross leasable area in North America, Europe and Asia. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG. For further information, visit the Company's website at http://www.simon.com/.

Segway Inc. develops intelligent motion control technology known as Segway(R) Smart Motion(TM) that is embedded in the light electric transportation devices it manufactures, such as the well-known Segway(R) Personal Transporter (PT).

Segway Smart Motion provides intelligent motion control that enables a device to monitor its environment, control its motion and make decisions about how it should move.

Segway markets a full line of zero-emissions Segway PTs for sidewalk and cross-terrain use that deliver impressive energy efficiency -- equivalent to 450 miles per gallon/191 kilometers per liter of fuel.

The company's line of Segway Robotic Mobility Platforms (RMPs) offers reliable, durable mobility solutions for robotic applications.Segway Inc., based in Bedford, N.H., U.S.A, has a worldwide distribution network of more than 250 retail points in 61 countries.

For additional information about Segway and to find retail locations, please visit http://www.segway.com/ or call 1-866-4SEGWAY. (Simon-owned Florida Mall is at left photo)

CONTACT:

Jack Klobucar, +1-952-925-9566, jklobucar@addedvalueinc.com, for Segway Inc.; or

Brenda Mahoney, Director, Commercial Sales of Segway Inc.,+1-603-222-6253, brenda.mahoney@segway.com; or

Billie Scott of Simon PropertyGroup, +1-317-263-7148, bscott@simon.com

Web Site: http://www.segway.com/

http://www.simon.com/

Taurus Investment Holdings, LLC, Signs American Systems Corporation to Five-Year Lease at Challenger South, Phase II

ORLANDO, FL – Boston-based Taurus Investment Holdings, LLC, has signed American Systems Corporation to a 5-year, 6,355-square-foot lease at its new 75,000-square-foot Challenger South, Phase II, flex-tech building at Central Florida Research Park (photo at left below) in Orlando, FL.

Jeff K. McFadden, (top right photo) SIOR, Managing Partner of its Winter Park-based subsidiary Taurus Southern Investments, LLC, made the announcement.

McFadden and Heidi C. Adams, (top left photo) Director of Leasing of Taurus Southern Investments, represented the landlord. Larry Barninger of Staubach represented the tenant. American Systems Corporation, Chantilly, VA, provides systems engineering, technical and managed services to government and private sector customers.

Taurus Investment Holdings, LLC, is widely known as a strategic real estate owner-operator specializing in value creation through a mix of development, redevelopment, lease-up and intensive professional management of each individual investment.

With 14 offices in the U.S. and seven more across the globe, Taurus Investment Holdings successfully balances local entrepreneurship with global financial strength. It steadfastly holds to the philosophy of preservation of principal, providing superior risk-adjusted returns, and alignment of interests with investors.

Taurus was founded in 1976 and has documented an impeccable track record of significant above-market returns. Since its inception, Taurus has purchased and sold over 20 million square feet of office, industrial, retail, residential and hotel assets.

Since establishing a presence in Central Florida in 1990, Winter Park-based Taurus Southern has become a respected industry leader known for strategic new commercial development and value-added redevelopment projects as well as management, leasing and brokerage of capital assets.

Led by McFadden, who has over 25 years of experience in commercial development and brokerage, Taurus Southern Investments, LLC, is headquartered at 1560 Orange Avenue, Suite 410, Winter Park, FL. For more information, visit http://www.tiholdings.com/.

CONTACT:

Kenneth H. Cristol, President,
Cristol Marketing Company
237 Hunt Club Blvd., Suite 102,
Longwood, FL 32779 USA
PH 407-774-2515
FX 407-774-6647
khc@crismktg.com
http://www.crismktg.com/
Strategic Marketing, Brand Management,
Publicity and Advertising, and Corporate Communications

Lane Co. Breaks Ground on New Atlanta Apartments

Construction Begins on "No. 10 Park" New Apartments Underway on Perimeter Center East

ATLANTA, GA (May 12, 2008) – Construction has begun on Lane Company's newest development, "No. 10 Park." (rendering above) The $60 million upscale rental community is in the rapidly-growing Central Perimeter area, a prime hub of business and retail activity.

"The Perimeter area is one of the strongest markets in the Metro Atlanta area," said John Bell, (top right photo) Development Partner for Lane Southeast, LLC. "Low apartment vacancies and strong job growth will mean a continued demand for luxury apartments," he added.

Located on Perimeter Center East near Perimeter Mall, (photo at left below) No. 10 Park will have 312 one and two bedroom apartments. Luxury amenities will include a resort-style pool with a sundeck and cabana. The clubhouse will feature a 24-hour state-of-the-art fitness center, WiFi Internet café, conference room and open theater-style kitchen available for resident gatherings.

Exteriors of the contemporary-style five-story building will include landscaped courtyards with seating areas, fountains and gardens. Covered parking will be concealed from public view.

"It's just a stone's throw from Perimeter Mall, so upscale shopping and dining are close at hand," said Development Manager Jeff Sherman. "We're building a truly walkable community."

No. 10 Park is within one-half mile of I-285 and less than two miles from Ga. 400. The proximity to the highways will make it easy to get to Downtown, Alpharetta and Cobb County; it also is within a few miles of a MARTA rail station.

The two equity partners for the development are Eagle Realty Group (a real estate investment management firm and member of W&SFG) and an affiliate of WLD Enterprises Inc. Guaranty Bank is the lender. Lane Realty Construction, LLC is the general contractor.

Lane Management, LLC will lease and manage the completed apartments. The Preston Partnership is the architect. The first residents are expected to occupy their new homes in summer of 2009, followed by full completion in the fall. Lane Company's other recent projects include several apartment communities and condominium developments in Atlantic Station,(photo at right above) the popular live/work/play community in Midtown Atlanta.

In cooperation with The Dawson Co., Lane Southeast is constructing the eon at Lindbergh condominiums, as well as a mixed-use development, in the fashionable Buckhead community. Lane Northeast is building The Quarter, another large mixed-use community, in Towson, Maryland. Many more projects are in the pipeline.

Lane Company (http://www.lanecompany.com/) is a vertically-integrated, full-service multifamily real estate company. Its expertise extends to all areas of real estate including apartment and condominium development, investment, property management, construction, asset management, marketing and sales.

With over 30 years experience, Lane Company is recognized as one of the most innovative, efficient and technologically-advanced firms in the multifamily industry. Its goal is to make big things happen by connecting people and communities one home at a time.

Media Contact:

Terri Thornton,

Thornton Communications,

404-932-4347 territhornton@mindspring.com

404-687-8760

404-932-4347 (Cell)

http://www.territhornton.com/

HFF Named to Market Sale of Development Site Adjacent to McCormick Place in Downtown Chicago

CHICAGO, IL, May 12, 2008--The Chicago office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been named to market for sale 2222 South Indiana, a 78,000-square-foot land site (aerial photo above) in downtown Chicago, Illinois.

HFF senior managing director Matthew Lawton (top right photo) and director Daniel Kaufman will lead the investment sales team on behalf of the seller, McHugh Construction.

2222 South Indiana is a 1.8-acre development site located immediately adjacent to Chicago’s 2.2 million-square-foot McCormick Place Convention Center (photo at left below).

Situated directly west of the entrance to the McCormick Place West Building, the site is bounded by South Michigan Avenue, South Indiana Avenue, East Cermak Road and 23rd Street in close proximity to the Museum Campus, Soldier Field, Grant Park and Chicago’s central business district.

It is well-positioned as a hotel, residential and/or mixed-use development site.
“McCormick Place Convention Center is the largest convention facility in the United States attracting over two million trade and public show visitors per year.

The West Building expansion is adding 710,000 square feet of additional meeting space and is expected to generate more than 300,000 new hotel room bookings per year,” said Kaufman. “The 2222 South Indiana development site is an excellent opportunity for a large scale hotel-oriented development.”

CONTACTS:

Laurie Fish McDowell

HFF Associate Director, Marketing

One Post Office Square, Suite 3500

Boston, MA 02109

tel 617.338.0990

fax 617.338.2150

http://www.hfflp.com/

lmcdowell@hfflp.com

Matthew D. Lawton,
HFF Senior Managing Director
(312) 528-3650
mlawton@hfflp.com

Daniel A. Kaufman

HFF Director
(312) 528-3650
dkaufman@hfflp.com

DCT Industrial Trust Announces Leasing Activity in Memphis

More than 770,000 Square Feet of Leases Signed

DENVER, CO, PRNewswire-FirstCall/ -- DCT Industrial Trust Inc. (NYSE:DCT), a leading industrial real estate investment trust, has announced significant leasing activity in the Memphis market.

Mallory Alexander International Logistics, a leading third party logistics company, has renewed its lease for 218,000 square feet and expanded into an additional 120,000 square feet to occupy the entire 338,000 square foot building. The lease term is three years.

Neely Mallory, (top right photo) Chairman and Chief Executive Officer of Mallory Alexander International Logistics, commented, "DCT Industrial was able to meet our needs for additional high-quality distribution space. We are pleased that we will be able to grow our Memphis operations without any disruption to our business."

HD Supply Distribution Services renewed its lease for 193,000 square feet and expanded into an additional 91,000 square feet to occupy the entire 284,000 square foot building under a seven year lease term.

DCT Industrial also added a new customer, Quebecor World Logistics, the world's largest distributor of catalogs, publications and newspaper inserts, to a 149,000 square foot bulk distribution facility under a 39 month lease term.

"We are extremely happy with the level of leasing activity that we've seen in Memphis over the past few months," said John Tugman, Vice President and Regional Director of Leasing for DCT Industrial. "Our portfolio of high-quality assets in Memphis enables us to meet the expansion needs of existing customers as well as attract new customers."

DCT Industrial's operating portfolio in Memphis is currently 96.9% leased. The Company owns or manages 5.4 million square feet in Memphis and has one 885,000 square foot building under development.

DCT Industrial Trust Inc. is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico.

As of March 31, 2008, the Company owned, managed or had under development 76.9 million square feet of assets leased to approximately 850 corporate customers, including 12.1 million square feet managed on behalf of three institutional joint venture partners. Additional information is available at http://www.dctindustrial.com/.

CONTACT: Sara Knapp, Corporate Communications of DCT Industrial TrustInc., +1-303-597-1550, investorrelations@dctindustrial.comWeb site: http://www.dctindustrial.com/

SchenkelShultz Architecture, Tampa, Designs Marion County Public Schools' New Horizon Academy at Marion Oaks in Ocala, FL

TAMPA, FL – The Tampa office of SchenkelShultz Architecture designed Marion County Public Schools’ new $33.7 million, 168,000-square-foot Horizon Academy (top right photo) at Marion Oaks, an adaptation of the acclaimed SchenkelShultz middle school prototype design, in Ocala, FL.

Designed to initially accommodate 1,352 students in grades 4 through 8, the facility will ultimately serve as a middle school only. The academy features a secure central courtyard, 32 general classrooms, seven technology labs, three science labs, three development skills labs, and a media center with a closed circuit TV studio.

Also included are a one-story administration office, cafeteria, music suite and gymnasium located at the front of the school to allow for easy after-hours usage. In addition, six vocational labs offer agriculture, business education, family and consumer science, health occupation, technology, and public service education.

Grades 4 and 5 are now open and grades 6-8 will open in August 2008. Ajax Building Corporation, Tampa, FL, serves as construction manager. SchenkelShultz Architecture, Tampa, is located at 4890 W. Kennedy Boulevard, Suite 930, Tampa, FL, phone 813-383-5500.

CONTACT:

Kenneth H. Cristol, President,

Cristol Marketing Company

237 Hunt Club Blvd., Suite 102,

Longwood, FL 32779 USA

PH 407-774-2515

FX 407-774-6647

khc@crismktg.com

http://www.crismktg.com/

Strategic Marketing, Brand Management,

Publicity and Advertising,

and Corporate Communications

Fitch REIT Credit Analysis: Sovran Self Storage Liquidity Concerns Lead to Negative Watch

NEW YORK, NY-- A decrease in liquidity, combined with near-term debt maturities resulted in Fitch placing Sovran Self Storage’s(Sovran) Issuer Default Rating (IDR) on Negative Watch, according to the latest credit analysis update by Fitch Ratings.

Sovran’s existing ratings are supported by strong coverage metrics and solid operating performance. Fitch placed Sovran’s IDR on Rating Watch Negative on April 8, 2008 Fitch's latest credit analysis update on Sovran, which provides more detail supporting Fitch's rating actions, is available on the Fitch Ratings website at ' http://www.fitchratings.com.

Fitch currently rates Sovran and affiliate Sovran Acquisition Limited Partnership (SALP) as follows: Sovran--IDR 'BBB-'.SALP--IDR 'BBB-';--Senior unsecured revolving credit facility 'BBB-';--Senior unsecured term notes 'BBB-'.

Primary credit strengths include the following:--Strong fixed-charge coverage;--Solid property-level fundamentals;--Manageable leverage and adequate risk-adjusted capital.

Primary credit concerns include the following:--Limited liquidity;--Significant near-term debt maturities;--Geographic concentration.

Contacts:

Steven Marks

+1-212-908-9161 or Sean Pattap

+1-212-908-0642, NewYork.

Sandro Scenga

Director Corporate Communications

Fitch Ratings

+1-212-908-0278

sandro.scenga@fitchratings.com

Commercial/Multifamily Originations Volume Hit Record in 2007 Despite Mid-year Slowdown

WASHINGTON, DC -- The commercial/multifamily originations market grew 19 percent in 2007, with mortgage bankers closing $507.7 billion in commercial/multifamily loans according the Mortgage Bankers Association's 2007 Commercial Real Estate/Multifamily Finance: Annual Origination Volume Summation.

Increases were seen across most property types and most investor groups, and were led by increases in loans for office buildings and loans intended for commercial mortgage-backed security (CMBS), collateralized debt obligations (CDO) and other asset-backed security (ABS) conduits. Intermediated loan volume grew 15 percent between 2006 and 2007. (Federal Reserve Bank, Washington, DC photo at left below)

"Even with the credit crunch hitting mid-year, 2007 still set a record for commercial/multifamily mortgage originations," said Jamie Woodwell, (top right photo) MBA's Senior Director of Commercial/Multifamily Research. "The 2007 numbers show both the importance of the commercial mortgage-backed securities (CMBS) market to commercial real estate finance and the depth of other funding sources, such as banks and thrifts, life companies, Fannie Mae, Freddie Mac and others."

Conduits were the largest single investor group for these mortgages - responsible for $225.2 billion, or 44 percent of the closed loan volume. Office buildings were the dominant property type - representing $140.7 billion, or 28 percent of the lending total.

Among major investor groups, Freddie Mac saw the greatest percentage increase in volume between 2006 and 2007, followed by Fannie Mae; CMBS, CDO and other ABS conduits; real estate investment trusts (REITs); and life insurance companies.

Lending for office properties once again was the leader in property type originations for 2007, followed closely by multifamily. Lending for office properties grew by 36 percent between 2006 and 2007. Lending for multifamily, health care, and hotel/motel saw increases, while retail and industrial saw slight declines over the year.

In a separate report, MBA's quarterly index of commercial/multifamily mortgage bankers' originations showed that through the first half of 2007, originations were running 38 percent ahead of 2006 levels. During the second half of 2007, commercial/multifamily originations fell 11 percent from their 2006 levels.

To learn more about the report or to obtain a copy, click here or contact Jason Vasquez, Mortgage Bankers Association, 202 557 2950, jvasquez@mortgagebankers.org.

The Cake Emporium Signs Lease at South Kendall Square Shopping Center

KENDALL, FL – Deerfield Beach-based Konover South, LLC, one of the Southeast’s premier retail developers, announced that The Cake Emporium has signed a lease for 1,050 square feet at its 100,000-square-foot South Kendall Square shopping center (store site photo top right) located at the prime corner of SW 120th Street and SW 127th Avenue in Kendall, FL.

“The center,” said Konover South Leasing Specialist Vivian Ricardo, “is strategically located in a high traffic area one-half mile west of the Florida Turnpike/SW 120th Street interchange, and is directly across from a Publix-anchored center.”

The center includes ABC Fine Wines & Spirits, Bank of America, Bonefish Grill, Coldstone Creamery, KFC/Long John Silver’s, Starbucks, Walgreens, Washington Mutual and numerous others. In addition, there is a 2-story, 26,500-square-foot office building. Ricardo said that Konover South developed, leases and manages the center.

Konover South, LLC, a fully integrated acquisition, development and management company operating throughout the southeastern U.S., is based in Deerfield Beach, FL. Visit the company’s website at http://www.konoversouth.com/.

CONTACT:

Kenneth H. Cristol, President,

Cristol Marketing Company

237 Hunt Club Blvd., Suite 102,

Longwood, FL 32779 USA

PH 407-774-2515

FX 407-774-6647

khc@crismktg.com

http://www.crismktg.com/

Strategic Marketing, Brand Management,

Publicity and Advertising,

and Corporate Communications

HEI Hotels & Resorts Appoints Pradeep Bobba General Manager of Sheraton Crystal City

Arlington, VA -– HEI Hotels & Resorts has appointed Pradeep Bobba as the new General Manager of the Sheraton Crystal City Hotel. (photo at left below)

Bobba joins the hotel from the Embassy Suites Orlando Downtown in Orlando, Florida, where he served as director of operations since January 2008.

“We are dedicated to promoting growth from within at HEI, and from day one we highlighted Pradeep as a candidate for our fast track development program,” said Michael Miner, (top right photo) HEI’s regional senior vice president of operations. “This was a well-deserved promotion and we are confident that Pradeep will bring fresh energy and vision to the Sheraton.”

Known for its comfortable environment and outstanding service, the Sheraton Crystal City is a central location for Washington, D.C. and Northern Virginia travelers. Bobba will be responsible for maintaining a culture of friendly service and a warm atmosphere, in line with Sheraton’s distinct brand positioning.

“I came to HEI to get the final tools I needed to become a general manager,” Bobba said. “The hotel has a great culture of service and with the recent completion of $3.5 million dollars in guest room renovations, the Sheraton Crystal City is positioned as premier destination in Arlington”

CONTACT:

Chris Daly
Vice President
Daly Gray Public Relations
ph: 703-435-6293

Jess Petitt

HEI Hotels & Resorts

203 849 2228

jpettit@heihotels.com

NAI Realvest Negotiates $902,500 Sale Price for 7,980-SF Industrial Building in Sanford, FL

ORLANDO, FL --- NAI Realvest has negotiated the sale of a 7,980 square foot industrial building at 120 Keyes Court in Sanford, FL for $902,500.00.

NAI Realvest Principal Michael Heidrich (top right photo) negotiated the transaction representing the seller, RNB Holdings, LLC of Sanford. The buyer of the six-year-old building is Premelters, Inc. of Winter Springs.

Heidrich recently negotiated another sale for RNB Holdings – a 7,800 square foot 10-year-old industrial building at 30 Keyes Court to Emver, LLC of Orlando for $910,000.

For more information, please contact:

Michael Heidrich, Principal NAI Realvest, 407-875-9989 or

Janice Paiano, Marketing Director, NAI Realvest, 407-875-9989 or

Beth Payan or Larry Vershel, LV Communications, Inc. 407-644-4142