Grubb & Ellis Realty Investors’ 200 Galleria Earns Energy Star Designation

SANTA ANA, CA– Grubb & Ellis Realty Investors, LLC announces that 200 Galleria, (top right photo) a 20-story Class A office building owned and managed on behalf of tenant-in-common investors, has earned the U.S. Environmental Protection Agency’s prestigious Energy Star designation.

Commercial buildings and industrial plants that rate in the top 25 percent of facilities in the nation for energy efficiency may qualify for the Energy Star.

“Grubb & Ellis Realty Investors is mindful of the energy consumption of its facilities, and strives to ensure that each building it manages on behalf of program investors is as efficient as possible,” said Kent Peters (top left photo), executive vice president, Asset Management, Grubb & Ellis Realty Investors.

“Receipt of the Energy Star designation is a testament to the professionalism and dedication of the onsite management team, whom I am pleased to congratulate.”

200 Galleria is professionally managed by Brett Earp, vice president of Asset Management, Grubb & Ellis Realty Investors, who is joined by a property management team headed by Deborah Warren of Grubb & Ellis Company. Warren’s team includes: Tori Nutting, tenant service coordinator; Ronald Durmire, chief engineer; Sean Trevino, engineer; and Paul Andrews, engineer.

Acquired in Jan. 2007, 200 Galleria offers more than 438,000 square feet of rentable area and is situated within the 85-acre Galleria shopping (bottom right photo) and office complex in Atlanta.

The exterior of the building features polished rose granite with solar reflective silver insulated glass. The property’s well-appointed interior includes two three-story atriums paved with matching granite, several large area rugs and state-of-the-art touch screen directories.

Conveniently located at the intersection of Interstates 285 and 75, 200 Galleria offers immediate access to US 41 and is in close proximity to Hartsfield International Airport. A seven-level parking facility with more than 2,500 spaces provides the property with plentiful parking.

Contacts:

Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com

Damon Elder, 714.975.2659, damon.elder@grubb-ellis.com

Glimcher Announces Mortgage Financing for Grand Central Mall in Vienna, WVA

Financing on Polaris Lifestyle Center expected to close during the First Quarter of 2009

COLUMBUS, OH /PRNewswire-FirstCall/ -- Glimcher Realty Trust (NYSE:GRT) announced that it has closed on a $25 million mortgage loan on Grand Central Mall located in Vienna, West Virginia. (bottom left map)

For a period of up to six months after the initial funding, the loan amount can be increased up to $47 million through additional commitments from lenders.

The $25 million of funds were applied to the repayment of the existing $46 million loan on the mall with the balance of the existing mortgage paid using funds from the company's line of credit.

The new loan has a term of five years comprised of an initial three-year maturity with two, one-year extension options.

The loan is 50% recourse with a floating interest rate of LIBOR plus 3.50% per annum with an interest rate floor of 5.50% per annum.

Shortly after closing on the new loan, the company sold an outparcel at Grand Central Mall for approximately $5 million. The proceeds from this sale were used to repay outstanding borrowings on the company's line of credit.

The company also announced that it expects to close during the first quarter of 2009 on a $24 million mortgage loan financing of the company's recently completed lifestyle addition at Polaris Fashion Place ("Polaris") in Columbus, Ohio. (top right photo)

Proceeds from the Polaris financing will be used to repay outstanding borrowings on the company's line of credit.

CONTACT:

Lisa A. Indest, Vice President, Finance and Accounting of Glimcher Realty Trust, +1-614-887-5844, lindest@glimcher.com

Web site: http://www.glimcher.com/

Berkeley Commons in Goldsboro, NC Sells for $19M

GOLDSBORO, N.C., Feb. 5, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Berkeley Commons, (top right photo) a 136,827-square foot shopping center in Goldsboro.

The sales price of $19 million represents a 7.69 percent cap rate.

Alvin Mansour, (top left photo) a first vice president investments and senior director of Marcus & Millichap’s National Retail Group in San Diego, represented the seller.

Steven Siegel, a vice president investments and senior director of Marcus & Millichap’s National Retail Group in Manhattan, represented the buyer. The Charlotte office of Marcus & Millichap assisted in closing this transaction.

“National tenants comprise more than 95 percent of the center’s occupancy and account for more than 90 percent of the income stream,” says Mansour.

Constructed in 2006, Berkeley Commons is anchored by Bed Bath & Beyond, Old Navy, Ross and TJ Maxx, and boasts a diverse mix of tenants including Lane Bryant, H&R Block, Rue 21, Radio Shack, Maurices, Rack Room Shoes, Fashion Nails, Bailey’s Jewelry, Empire Fire Mongolian Restaurant and Cold Stone Creamery.

Located at 1201-1303 Berkeley Boulevard, the multi-tenant shopping center receives excellent exposure along one of the area’s main traffic arteries within a booming retail corridor.

Berkeley Boulevard experiences traffic counts of 29,000 vehicles per day and traffic counts along nearby U.S. Highway 70 exceed 70,000 vehicles per day.

Located in eastern North Carolina, Goldsboro is the county seat of Wayne County and is home to Seymour Johnson Air Force Base and the 4th Fighter Wing.

Press Contact: Stacey CorsoCommunications Department(925) 953-1716

Concord Hospitality Celebrates First “Share Day” with $43,000 Donation to Feed The Children Organization

Contribution and Volunteers to Help Distribute Food and Sundries to More Than 2,400 Families in Six Cities in U.S. and Canada

RALEIGH-DURHAM, NC, Feb. 5, 2009—Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, today announced that it has donated $43,000 to Feed the Children, a contribution that will provide one week’s worth of food and sundries to more than 2,400 families in six cities across North America.

The donation is a part of Concord’s first “Share Day,” and will pay for the transportation costs of goods to FTC receiving organizations.

A total of more than 150 Concord associates, about 25 in each location, will help unload and distribute the supplies. Benefiting families will be present at each receiving organization.

Feed The Children is a non-profit relief organization that delivers food, medicine, clothing and other necessities to children and families who lack them due to famine, war, poverty or natural disaster.

“Concord believes in supporting the communities that our properties call home,” said Mark G. Laport, (top right photo) president and CEO of Concord.

“It is one of our founding cornerstones. Share Day is a natural extension of that cornerstone—it exemplifies our character as a company and the character of our associates. We consider volunteer work to be an important corporate responsibility, particularly in times of economic hardship.

Contacts: Melanie Boyer, Jerry Daly, (703) 435-6293

Madison Marquette Pinpoints 63 Distressed Retail Markets

WASHINGTON, DC-- Walter Bialas, (top right photo) vice president of research, Madison Marquette, has pinpointed the weakest retail markets in the U.S. today.


He says, "No region is immune from the downturn, but some markets are more vulnerable than others. Traditional measures of what regions may be troubled look simply at vacancy rates as a measure of distress.

"Yet there are other forces at work. Below is a list of 63 metropolitan markets ranked in order of how likely they are to produce distressed assets in the coming years. We measured and indexed the following factors:

-Velocity of vacancy rate deterioration
-Current vacancy rate

-Net absorption of new inventory-New inventory in the pipeline

-Level of pre-leasing

"Based on our indexing, the top 35 metropolitan markets are fertile ground for distressed assets.

The remaining markets, although stressed, are less likely to break under the weight of recession."

Metropolitan Markets By Potential for Distressed Retail Real Estate Assets

1. Phoenix 2. Las Vegas 3. Kansas City 4. Atlanta 5. Birmingham 6. Indianapolis 7. Memphis 8. Detroit 9. Sacramento 10. Providence

11. Houston 12. Dayton 13. Dallas / Ft Worth 14. Chicago 15. Inland Empire 16. Tucson 17. Jacksonville 18. West Michigan 19. Broward County 20. Columbus

21. St. Louis 22. Denver 23. Southwest Florida 24. Cincinnati 25. San Antonio 26. Palm Beach County 27. Philadelphia 28. Tampa / St Petersburg 29. Orlando 30. Austin

31. Greensboro / Winston-Salem 32. Northern New Jersey 33. Hartford 34. Nashville 35. Pittsburgh 36. Tulsa 37. Madison 38. Richmond 39. Toledo 40. Cleveland

41. Greenville / Spartanburg 42. Westchester / So Connecticut 43. Hampton Roads / Norfolk 44. Charlotte 45. Raleigh / Durham 46. Oklahoma City 47. Milwaukee 48. Portland 49. Seattle / Puget Sound 50. Salt Lake City

51. Miami-Dade County 52. Los Angeles 53. Washington 54. Boston 55. Minneapolis 56. East Bay / Oakland 57. Baltimore 58. Orange County 59. South Bay/San Jose 60. San Diego

61. Long Island 62. San Francisco 63. New York City

Madison Marquette is a retail real estate operator, investor and developer based in Washington, DC.

More information is available at http://www.madisonmarquette.com/.

The company also publishes PLACES Magazine, a publication devoted to examining trends in retail real estate. More information is available at http://www.places-magazine.com/.

ProLogis Announces Leasing Activity in Louisville

Transactions Bring ProLogis' Leased Percentage in Market to 97 Percent

LOUISVILLE, KY /PRNewswire-FirstCall/ -- ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announces the completion of four transactions in Louisville, bringing its overall leased percentage in the market to 97 percent.

"We are pleased to announce significant leasing activity in Louisville," said Darin Manning, first vice president and market officer for ProLogis.

"The market is an attractive choice for our customers due to its availability of labor and strategic location in the Midwest along Interstates 65 and 71.

And, Louisville is home to the UPS Worldport Facility, which enables businesses to offer expedited shipping options to their customers.

"In early January, ProLogis signed a new lease agreement totaling 273,000 square feet of recently completed distribution space to a leading pharmaceutical services provider at ProLogis Park 65. (top right photo)

The park comprises 1.2 million square feet in two buildings and is located off Interstate 65 in Brooks, Kentucky, approximately 14 miles south of Louisville. With this transaction, the park is now fully occupied.

Additional ProLogis leasing activity in Louisville includes three lease agreements for previously occupied space.

Customers include: -- APL Logistics, a leading third-party logistics provider, which expanded into an additional 167,000 square feet with a new lease agreement at ProLogis Park Cedar Grove, (top left photo) located in Shepherdsville, Kentucky at the intersection of Interstate 65 and KY 480.

APL now occupies the entire space in building two at the park, totaling 382,800 square feet. This transaction marks the 22nd between the two companies. APL now occupies approximately 5.6 million square feet with ProLogis worldwide;

-- A leading industrial controls manufacturer, which leased 300,000 square feet at Riverport Distribution Center Building III. The park is located near the intersection of the Greenbelt Highway and Freeport Drive in the Jefferson Riverport International master-plans industrial park; (middle right photo)--

A third-party logistics provider specializing in the pharmaceutical industry, which leased 273,000 square feet at ProLogis Park I-65.

The distribution park is located off Interstate 65 approximately 12 miles south of Louisville in Brooks, Kentucky.

ProLogis entered Louisville in 1995 and is the largest provider of bulk distribution space in the market with 5.5 million square feet in 17 buildings. Additional customers in the area include Exel Logistics, Kellogg's and Master Lock Company.

CONTACTS:

media, Mo Sheahan of ProLogis, +1-303-567-5434, msheahan@prologis.com;

or Suzanne Dawson of Linden Alschuler & Kaplan, Inc.,+1-212-329-1420, sdawson@lakpr.com,

for ProLogis;

or investors, Melissa Marsden of ProLogis, +1-303-567-5622, mmarsden@prologis.com

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

CB Richard Ellis Completes Sale Transaction for 24,700-SF Office Building in Orlando Executive Center

ORLANDO, FL– Feb. 5, 2009 – The Orlando office of CB Richard Ellis is pleased to announce that Nan McCormick, (middle right photo) Senior Vice President, represented the owner in the sale of 2550 Technology Drive (top left photo) in Orlando, Florida.

The 24,700 square foot office building is situated on approximately 6.5 acres and includes 4.5 acres of land for additional expansion.

The sale price was $5.55 million. The purchaser, The United Mexican States, through the Consulate of Mexico in Orlando, was represented by John Hussey, President of RealTrend, Inc.

The Class A, two-story office building, which is located at the intersection of John Young Parkway and Technology Drive in Orlando Executive Center, was completed in 2008.

The seller was The 2580 Technology Drive, LLC. The United Mexican States will utilize the facility as the new Orlando Consulate's office.

Contact: Angelique Greven, 407.839.3158, angelique.greven@cbre.com

Marcus & Millichap's Manhattan Office Closes $73M in Key Real Estate Transactions

Sales volume remains strong as the capital markets continue to tighten

NEW YORK, N.Y. – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, announced that its Manhattan office recently closed $73.1 million in major commercial real estate transactions, even as sales velocity nationwide continues to decline, according to Edward Jordan, (top right photo) regional manager of Marcus & Millichap’s Manhattan office.

“Despite the upheaval in the nation’s financial markets, Marcus & Millichap’s Manhattan office recently executed multiple large transactions that signify our unique ability to add value to investors in the New York Metropolitan marketplace,” says Jordan.

The transactions included 150 West 83rd St., a 30,848-square foot parking garage (Central Parking System) in the heart of the Upper West Side. The property’s sales price of $21.5 million represented $697 per square foot.

Barry Kimchy, a senior associate in the Manhattan office, managed the exclusive marketing process on behalf of the seller.

Another significant sale was 355 Seventh Ave., a 14,320-square foot three-story mixed-use building located one block from Penn Station and Madison Square Garden. The $17.375 million sales price represented $1,213 per square foot.

Kimchy and investment specialist Christopher Sjurset represented the seller. Investment specialists Ross Mezzo and Benjamin Bottner, also in Manhattan, represented the buyer.

The Manhattan office also negotiated the sales of 37 Kenmare St., 240 West 38th St., 1961-1967 Amsterdam Ave. , 150 West 84th St., 2722 Eighth Ave., 493 Second Ave. and 131 West 80th St.

Brokers in these transactions were Peter Von Der Ahe, (bottom left photo) vice president investments and senior director of the firm’s National Multi Housing Group, senior associate Stephen Matri, multi-family investment specialists Joe Koicim and Sjurset, and investment specialist Scott Edelstein, in Manhattan.

Ben Sgambati, an associate vice president investments and director of Marcus & Millichap’s Net Leased Properties Group and Jin Lee, a retail investment specialist, both in the firm’s New Jersey office, participated in these closings as well.

By providing investors with real-time market information and unparalleled access to a nationwide pool of investment capital, Marcus & Millichap will continue to arrange transactions on behalf of private and institutional investors through every market cycle.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716

Grubb & Ellis Promotes Piers Chance to Vice President, Director of Management Services for North and Central Texas

DALLAS, TX – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announce that Piers Chance, (top right photo) CPM, has been promoted to vice president, director of management services for North and Central Texas.

In his new position, Chance will oversee and direct the property and facility management operations of the company in and around Dallas-Fort Worth, Austin and San Antonio.

“Piers is one of the most highly respected real estate professionals in Texas,” said Moody Younger, executive managing director of Grubb & Ellis’ Texas operations. “With more than 30 years of experience developing, organizing and directing teams to effectively lease and manage commercial real estate, he is a tremendous asset to our clients and our people.”

Chance joined the company in May 2008 as assistant vice president and portfolio manager.

Prior to joining Grubb & Ellis, he was a senior property manager with The Koll Company in Dallas, where he was responsible for all property management, construction and financial reporting for an approximately one million square foot portfolio of commercial properties.

Previously, Chance served as a portfolio and senior property manager for both CB Richard Ellis and Trammel Crow Company, as well as a regional manager for Lincoln Property Company.

Contact: Damon Elder Phone: 714.975.2659Email: damon.elder@grubb-ellis.com

Hilton chooses Virginia for new HQ

BEVERLY HILLS, CA – Hilton Hotels Corporation (Hilton) announced that as part of its previously announced corporate headquarters relocation from Beverly Hills, California (middle left photo) to the greater Washington, DC area, the company has chosen Fairfax County, Virginia as its new home.

Hilton is currently negotiating with prospective landlords in Fairfax County and will announce a site as soon as a lease is finalized.

The relocation, which will significantly reduce the company’s operating expenses, is part of Hilton’s ongoing business reorganization and follows a thorough review of Hilton’s major corporate locations.

Potential locations in the greater Washington, DC metropolitan area were evaluated against multiple criteria, including costs and suitability of available commercial space.

“We are pleased to announce that our global headquarters will be located in Fairfax County, Virginia, and are grateful to the Commonwealth and County for their efforts to create such compelling economic incentives for Hilton,” said Christopher J. Nassetta, (top right photo) President and Chief Executive Officer of Hilton Hotels Corporation.

“We are confident that being based in this location will allow us to be more effective and efficient as an organization, and will provide a high quality of life for our team members.

"We look forward to continuing Hilton’s tradition of community engagement in our new location.”

Nassetta added, “We would also like to thank the State of Maryland and the District of Columbia for their efforts during our selection process. Both Maryland and the District have many positive attributes and are desirable locations for the headquarters of global companies.”

Hilton will invest at least $17 million in the move and create more than 300 permanent, full-time jobs in Fairfax County within the next 36 months.

The comprehensive incentive program for the relocation to the Commonwealth of Virginia and Fairfax County totals $4.6 million in cash grants and other significant incentives. The company also qualifies for a Major Business Facility Job Tax Credit.

Contacts:

Ellen Gonda (ellen.gonda@hilton.com) 310-205-7676 Hilton Hotels Corporation
Gemma Hart (ghart@brunswickgroup.com) 212-333-3810 Brunswick Group

The Lakes at Vinings in Georgia Up for Sale at $34M

ATLANTA, GA-- Engler Financial Group presents The Lakes at Vinings, (top right photo) a 464-unit garden-style apartment community located in the heart of historic downtown Vinings, Atlanta, Georgia.

The Lakes at Vinings is offered at $34,000,000 and represents an exceptional “value add” and/or redevelopment opportunity in one of Atlanta’s most affluent and desirable neighborhoods.

The Lakes at Vinings offers an unparalleled location in the heart of historic downtown Vinings, one of Atlanta’s most charming and upscale neighborhoods.

Demographics within a one-mile radius of The Lakes at Vinings are some of Atlanta’s highest with an average household income of $92,619 per year and an average home value of $430,702.

All major office submarkets including Downtown (18.0 msf), Midtown (13.0 msf), Cumberland Galleria (18.0 msf), Buckhead (13.1 msf), and Central Perimeter (21.6 msf) are within a 15-minute commute of Vinings.

Adjacent to The Lakes at Vinings site, Wood Partners and The Columns Group are building Vinings Main, a 16-acre mixed-use development that includes 229 residential units ($300,000 - $1 million+), 30,000 square feet of office, and 20,000 square feet of retail.

Kairos Development is building Avignon at Vinings a 172-unit development of condos, townhomes, and single family homes with prices from $375,000 to over $1.25 million.
TAZ Anderson Realty is under construction on a 55 unit hi-rise condominium development adjacent to Lakes at Vinings.

Prices for the development are well in excess of $1 million.
One Vinings Mountain, an upscale 156-unit high-rise condominium recently sold out at prices ranging from $300,000 to over $1.8 million.

If you have any questions or would like to schedule a tour of The Lakes at Vinings, please contact

Greg Engler, CEO/President, 678/992-2000, ext. 1, gengler@efgus.com
Pat Jones, Senior Vice President, 678/992-2000, ext. 2, pjones@efgus.com
Kris Mikkelsen, Senior Associate, 678/992-2000, ext. 4, kmikkelsen@efgus.com

Regency Centers Reports Preliminary Fourth Quarter & Year End Results

JACKSONVILLE, FL--(BUSINESS WIRE)-- Regency Centers Corporation (NYSE:REG) announced preliminary financial and operating results for the quarter and year ended December 31, 2008.

Funds From Operations (FFO) for the fourth quarter was $50.8 million, or $0.72 per diluted share, compared to $81.2 million and $1.16 per diluted share for the same period in 2007.

For the year ended December 31, 2008, FFO was $263.8 million, or $3.75 per diluted share, compared to $293.9 million or $4.20 per diluted share for the same period in 2007.

The decline in FFO was primarily due to impairment charges and an increase in the write-off of dead deal costs as well as a lower level of development gains in 2008.

Excluding the impacts of impairments and dead deal costs, FFO per share would have been $4.47 per share, or 6.4% higher than 2007.

Regency reports FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (NAREIT) as a supplemental earnings measure. The Company considers this a meaningful performance measurement in the Real Estate Investment Trust industry.

Net income for common stockholders for the quarter was $16.0 million, or $0.23 per diluted share, compared to $50.6 million and $0.72 per diluted share for the same period in 2007.

Net income for the year ended December 31, 2008 was $129.2 million or $1.84 per diluted share, compared to $184.0 million and $2.65 per diluted share for the same period in 2007.

These results are preliminary, unaudited results and are subject to revision pending the resolution of the timing of gains on properties previously sold to co-investment partnerships, an accounting question described below which has recently been identified in connection with the pending liquidation of two of these co-investment partnerships during the first quarter of 2009.
\

Martin E. (Hap) Stern Jr. (top right photo), is chairman and CEO of Regency Centers Corp.

For a complete copy of the company's news release and financials, please contact Regency Centers Corp., Jacksonville. FL, Lisa Palmer, 904-598-7636, www.RegencyCenters.com

HEI Hotels & Resorts Looks to Deploy $1.5B for Hotel Acquisitions in 2009

Company Sees More Properties Coming On Market as Year Progresses

NORWALK, CT, Feb. 5, 2009–Officials of HEI Hotels & Resorts, the nation’s fastest growing private owner/operator of hotel real estate, today announced plans to deploy up to $1.5 billion from its third fund, HEI Hospitality Fund III, L.P., during 2009.

The fully discretionary fund has approximately $500 million in equity, and intends to acquire or develop between $1.5 billion and $2 billion in hotels and resorts over the next two years.

“We continue to actively seek hotels for our portfolio of full-service, upper-upscale hotels in areas with high barriers to new development,” said Steve Mendell, (top right photo) HEI’s executive vice president of acquisitions and development.

“For the first time in about 16 months, we are beginning to see hotel prices come in line with market expectations as the expectation gap narrows between buyers and sellers.

"We expect this trend to continue, with prices becoming even more attractive as the year progresses.

"Since we do have dry powder, we expect to be at the forefront of the acquisition wave, which we expect to begin in the near future.

"Cash always is king in this part of the real estate cycle, which we believe will give us a competitive advantage, coupled with our ability to innovatively structure transactions and our track record of closing quickly at an agreed-upon price.”

The new fund will target full-service, upper-upscale and luxury hotels, resorts and premium select-service hotels in the U.S., Canada and the Caribbean affiliated with established leading brands.

Desired locations include downtown central business districts (CBDs) in urban, premium suburban and airport sites.

HEI also remains focused on complementing its property portfolio with independent upper-upscale and resort properties located in strong markets and select “takeout” opportunities to buy hotels upon completion of construction from third-party developers.

About HEI Hotels & Resorts

HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment firm that acquires, develops, owns and operates full-service, upper-upscale and luxury hotels and resorts throughout the United States under such well-known brand names as Marriott, Sheraton, Westin, Le Meridien, Embassy Suites, and Hilton.

For more information about HEI, visit the company’s website, http://www.heihotels.com/.

CONTACTS:

Julie Tullbane, Daly Gray Public Relations, T 703-435-6293, F 703-435-6297, julie@dalygray.com

Jess Petitt, HEI Hotels & Resorts, 203-849-2228, jpetitt@heihotels.com

Terranova Signs DHL Global Mail to $3.2M Lease at Weston Corporate Centre

WESTON, FL – Feb. 4, 2009 – Terranova Corporation is proud to announce that DHL Global Mail, the second largest mail service provider in the U.S., has signed an office lease at Weston Corporate Centre (top right photo) in Weston, Fla., where the international company will establish its North American headquarters.

Terranova senior commercial associate Gordon Messinger represented the landlord in the 20,749 square foot transaction, valued at over $3.2 million. Weston Corporate Centre is located at 2700 South Commerce Parkway in Weston’s business district.

“DHL’s commitment underlines the prestige of this office property, considering that right now it is a tenants’ market for office space,” Messinger said. “DHL could have had its pick, and it chose Weston Corporate Centre because of its many strengths.”

DHL Global Mail is the second largest mail service provider on the U.S. market after the United States Postal Service.

A subsidiary of Deutsche Post World Net, the world’s leading logistics group, DHL Global Mail is the conglomerate’s one-stop shop for all international mail services.

DHL Global Mail offers its customers direct connections to more than 200 countries. The company has over 4,000 employees and operates sales offices and production sites in Europe, Asia and Australia as well as North and South America.

CONTACT:
Karen LaFleur, Marketing/PR Manager, Terranova Corp., 305 779 8908, klafleur@terranovacorp.com

Marcus & Millichap Lists $28.5M Regional Shopping Center in Columbia, SC

COLUMBIA, SC, Feb.4, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Midtown at Forest Acres, (top right photo) a 690,594-square foot shopping center in Columbia.

The listing price of $28.5 million represents $41 per square foot.

Bill Kohlhepp, (middle left photo) a senior associate in Marcus & Millichap’s Fort Lauderdale office, is representing the seller, a Florida-based investment group.

“Midtown at Forest Acres is a perfect opportunity for an investor who is looking for a value-add asset to remodel, reposition or redevelop to conform to the demands of today’s shoppers,” says Kohlhepp. “Also, for the right investor, the seller will consider taking back a first mortgage.”

Located at 3400 Forest Drive, just outside downtown Columbia, the property is approximately three miles from the flagship campus of the University of South Carolina and from Fort Jackson, the United States Army’s largest training center.

Midtown at Forest Acres was developed in 1988 as an approximately 900,000-square foot enclosed shopping mall. The mall’s current 690,594 square feet of owned space is operating at approximately 61 percent occupancy with strong credit tenants, including Belk, Barnes & Noble, Foot Locker and Regal Cinemas.

Midtown at Forest Acres’ value is solidly supported by its 2,790-space parking garage, a significant amenity in a high-density area with significant barriers to entry.

Current rents at the shopping mall are well below market rate.

Press Contact: Stacey Corso, Communications Department, (925) 953-1716