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Eastern Coast Management and Port Offices, LLC report only minor damage to Innovation Centre in Port Canaveral, Florida in aftermath of Hurricane Frances
Innovation Centre sustains only minor wind damage after Hurricane Frances passes through Port Canaveral, Florida.
Milwaukee, Wisconsin --September 9, 2004--
Last month Frank Crivello, Managing
Member, Eastern Coast Management, LLC ("ECM"),
www.ecmgt.net,
and Port Offices, LLC ("Port")
announced Port acquired from Allied Capital
Corporation ("Allied"), www.alliedcapital.com,
Washington, D.C., the office building complex
that was the headquarters of Premier Cruise
Lines. Since then, Port has commenced a
rehabilitation of the office complex as it
begins re-leasing of the property. The office
complex is approximately 68,000 square feet and
is one of the few Class A office buildings in
Brevard County.
Port Managing Member Frank P. Crivello
stated: "Innovation Centre was construction
a little over a decade ago. It was built to
withstand hurricane winds. The Canaveral Port
Authority, www.portcanaveral.com,
did a fabulous job of preparing Port Canaveral
and its tenants for the evacuation. Our concern
was related to the possible storm surge and
flooding. We are relieved no flooding occurred.
Our rehabilitation will continue as
planned."
About NNN Group, Inc., www.nnn.net:
NNN provides PI with real estate management
and advisory services.
About Phoenix Investors, LLC, www.phoenixinv.com:
Since 1994 PI has been offering professional
management and advisory solutions to public and
private companies, trusts, and individual
investors. Our management endeavors to
understand our clients' individual needs, work
with our client to assess specific goals, and
structure investments according to our clients'
specific risk/reward profile to meet both the
clients' short term and long term needs. Our
real estate management team professionally
manages our portfolio properties through a
combination of local and national representation
in order to effectively create a
"working-bridge" between owner and
tenant, building a cooperative mutually
beneficial working relationship. Our experts
assess and refine our client's portfolio's to
maximize our clients cash flow, equity
accumulation, and internal rate of return based
upon our clients' specific dynamic goals.
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Securities Litigation Act of 1995 - With the
exception of historical information, the matters
discussed in this press release are
forward-looking statements that involve a number
of risks and uncertainties. The actual future
results of the PI could differ significantly
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are not limited to assumptions relating to the
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unanticipated material adverse change in PI's
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Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com
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©
2004 Phoenix Investors, LLC