New Marketplace Format Attracts Large Number of First-Time Hotel Buyers

High Interest Despite Large Drop in Industry First Quarter Transactions

KANSAS CITY, MO—Hotel Brokers International (HBI), the nation’s largest hotel brokerage organization with more than 30 offices from coast to coast, announces its revamped U.S. Hotel Investor’s Marketplace program, recently held at the Hyatt Regency O’Hare in Chicago, attracted a strong mix of seasoned and first-time hotel buyers.

Attendees received a broad overview of the industry, as well as information on first quarter hotel transaction activity, which was down significantly.

“We believe the change in format has uncovered a pent-up demand for hotel investment,” said H. Brandt Niehaus, (top right photo) CHB, president of HBI and Louisville-based Huff, Niehaus & Associates, Inc. “Hotels arguably are the most difficult real estate asset class to own and can be intimidating to someone outside the industry.

"By providing a solid grounding in the basics of hotel real estate, potential new investors receive both a great overview and a look at investment opportunities available today.”

The revised one-day event is comprised of a half-day of education and updates on hotel trends, financing, hotel brands and hotel real estate pricing for hotel owners, investors, hotel management company executives and acquisition specialists.

Panels of lenders, operators, franchising executives and consultants provided a combination of cutting-edge trends and outlooks along with hotel basics. The second half of the day showcased 20 hotels currently being marketed for sale, as well as in-depth information on an additional 150 hotels listed for sale.

The two newly added panel discussions on lending and franchise financing were both well received, according to Niehaus.

The lender panel was moderated by Ron McCord, (top left photo) Milmark Hotel/Motel Investments, LLC, Wisconsin, and featured Brad Black, Hospitality Lending Specialist, CIT Small Business Lending, Adam Wonus, Vice President Franchise Finance, Mercantile Commercial Capital, and Melissa Butler, Senior Business Development Officer, PMC Commercial Trust.

Sponsors of the Chicago Marketplace include CIT Small Business Lending, Carlson Hotels Worldwide, Choice Hotels International, La Quinta Inns, Inc., Mercantile Commercial Capital, LLC, and PMC Commercial Trust.

HBI also will host Marketplace events later in the year in the Baltimore/Washington, D.C. area on October 8 and in Dallas on November 5. To register, go to http://www.hbihotels.com/marketplace.php.

CONTACTS:

Julie Tullbane, Daly Gray Public Relations,

T 703-435-6293. F 703-435-6297
julie@dalygray.com

Glenda Webb, Hotel Brokers International,

(816) 505-4315

Melanie Boyer, Daly gray Public Relations, 703 435 6293

Challenging Economy Shows Underlying Resilience and Flexibility

UNIONDALE, NY--During Arbor's recent finance conference, "How to Navigate the Capital Markets Storm with Agency Lending" in Dallas on June 10, Dr. Sam Chandan, (top right photo) Chief Economist for Reis, Inc. outlined a number of forces that are weighing on the economy:

The housing market; the economy; inflation (how we spend our money); value of the U.S. dollar; increase in food and fuel prices; and loss of confidence in international markets (as reflected in devalued U.S. dollar).

However, he noted the underlying resilience and flexibility of the U.S. economy remains intact in the midst of most challenging adjustments.

Other stresses on the economy Dr. Chandan pointed out are:

The housing market: The pool of houses for sale has changed significantly. There were more homes built than Americans can (afford to) live in.

Corporate profits: While they have slowed significantly as of late, they will prevail over the next 1-2 years.

Oil: Our economy is more information- and services-based rather than on manufacturing. As a result, there is reduced energy consumption.

CMBS: The CMBS market has been sidelined. At its peak, almost 70 percent of all multifamily mortgages were from CMBS. As of first quarter 2008, that number has fallen to 7 percent.

CONTACT: Arbor Solutions Editor, Arbor Commercial Mortgage LLC, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553. PH 1 800 878 5160.

HFF Closes $41.1M Sale of Office/Flex Space in Chantilly, VA

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Sullyfield Commerce Center and The Earhart Building, office/flex buildings (above photo) totaling 336,107 square feet in Chantilly, Virginia.

HFF senior managing directors Jim Meisel (top right photo) and Dek Potts (top left photo) and director Andrew Pulliam led the investment sales team on behalf of the seller, WRIT – Washington Real Estate Investment Trust.

RREEF purchased the properties free and clear of debt for $41.1 million. WRIT owns and manages 90 income-producing properties in the Baltimore/Washington, D.C. area.

Sullyfield Commerce Center includes two properties totaling 243,690 square feet located at 14320 and 14370 Sullyfield Circle. The Earhart Building is a 92,417-square-foot, single-story building located at 14000 Thunderbolt Place.

Key tenants include Northrop Grumman, L3 Communications, DHL, Cort Furniture and EDS.

Located off Routes 28 and 50, the properties are close to the Washington Dulles International Airport in Chantilly, approximately 22 miles west of downtown Washington, D.C.

“The properties are ideally situated within the largest concentration of flex/office inventory in Northern Virginia and within two of the region’s pre-eminent flex/office business parks, namely Sullyfield Business Park and Dulles Business Park,” said Meisel.

CONTACTS:

James A. Meisel, HFF Senior Managing Director, 202 533 2500. mailto:jmeisel@hfflp.com

Stephen "Dek" Potts, HFF Senior Managing Director, 202 533 2500. dpotts@hfflp.com

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

National Retail Properties, Inc. Upgraded by Moody's

ORLANDO, FL, June 18, 2008 /PRNewswire-FirstCall/ -- National Retail Properties, Inc. (NYSE: NNN) announced today that Moody's Investors Service upgraded the Company's senior unsecured debt rating to Baa2 from Baa3 and its preferred stock rating to Baa3 from Ba1, with a stable outlook.

Mr. Craig Macnab, (top right photo) Chief Executive Officer, noted: "We are pleased with Moody's rating action which we believe reflects our strong real estate portfolio, stable cash flow, conservative balance sheet and consistent performance.

"This upgrade is particularly gratifying considering the challenging macroeconomic environment. We anticipate 2008 will produce record FFO per share results and are on track for our nineteenth consecutive year of increased dividends."

NNN acquires, owns, invests in, manages and develops properties that are leased primarily to retail tenants under long-term net leases. As of March 31, 2008, NNN owned 931 Investment Properties, with an aggregate leasable area of 11 million square feet, located in 44 states. For more information on the Company, visit http://www.nnnreit.com/.

Contact: Kevin B. Habicht, (bottom right photo) Chief Financial Officer of National Retail Properties, Inc., +1-407-265-7348

SIKON Construction Corp. Nears Completion on Two New SuperTarget Stores in South Florida

DEERFIELD BEACH, FL – Deerfield Beach-based SIKON Construction Corporation, one of the nation’s leading retail contractors, is nearing completion on two new SuperTarget stores: a 186,212-square-foot store located at Hillsboro Boulevard and Powerline Road in Deerfield Beach, and a 185,000-square-foot store at U.S. 441 and Wiles Road in Coral Springs, FL.

Both were designed by RSP Architects, Minneapolis, according to longtime Florida construction veteran Dale E. Scott, (top right photo) Senior Executive Vice President of SIKON.

SIKON Construction Corporation is a full-service general contractor and construction manager primarily to the retail industry as well as for office buildings, mixed-use and other commercial projects.

Notably, SIKON is also constructing the LEED-certified, 550,000-square-foot Promenade at Coconut Creek, and has recently completed a number of other high-profile projects including One Village Place, a 10-story, 192,202-square-foot mixed-use development in Coral Gables, FL, as well as the first LEED-certified Publix Greenwise store in Palm Beach Gardens, FL.

SIKON is headquartered at 431 Fairway Drive, Deerfield Beach, FL 33441, phone 954-354-8338. For more information, visit the company’s website at http://www.sikon.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 Strategic Marketing, Brand Management, Publicity and Advertising, and Corporate Communications

khc@crismktg.com

http://www.crismktg.com/

GVA Advantis Negotiates New 11,120-SF Lease for Mad Max Inc. in Dyne Business Center, Tampa, FL

TAMPA, FL– GVA Advantis has negotiated a new 11,120 square foot lease for Mad Max, Inc. within Dyne Business Center in Tampa, Hillsborough County, Florida.

Phil Krnjeu, (top right photo) associate of industrial services for GVA Advantis’ Tampa office, exclusively represented the tenant, Mad Max, Inc., a Tampa-based distributor of exhaust system components. The landlord, Dyne Associates, was represented by Industrial Property Group, Inc.

“With vacancy hovering under five percent in the airport industrial submarket, meeting all of my client’s technical and financial needs was a challenge due to lack of available product,” states Krnjeu. “It took creativity and knowledge of the market to help my client find the perfect space and save money,” he continued.


Mad Max, Inc.’s new space is located at 5422 West Crenshaw Street, a single-story 39,489-square foot multi-tenanted manufacturing building. Situated on 4.17 acres, the property is located within Dyne Business Center in the airport industrial submarket.

CONTACT:

Lisa Hyde, Director of Marketing, Advantis Real Estate Services Company, 3000 Bayport Drive, Suite 100, Tampa, Florida 33607. Tel 813.342.4752. Fax 813.342.4004
E-mail Lhyde@gvaadvantis.com
http://www.gvaadvantis.com/

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.

FOR MORE INFORMATION, CONTACT:
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.

CONTACTS:

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.