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Eastern Coast Management and Port Offices, LLC report in aftermath of Hurricane Jeanne only minor damage to Innovation Centre in Port Canaveral, Florida
Innovation Centre sustains only minor water and wind damage after Hurricane Jeanne passes through Port Canaveral, Florida.
Milwaukee, Wisconsin --September 26, 2004--
NNN Group, Inc., www.nnn.net,
and Frank Crivello, Managing Member, Eastern
Coast Management, LLC ("ECM"), www.ecmgt.net,
announced Port Offices, LLC ("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.
ECM Vice President Frank J.
Orlando stated: "Our building was very well
constructed and I took extra care to secure it
before Hurricane Jeanne. Having said that when
we emerged from Hurricane Frances with only
minor damage, I thought we were very lucky.
Emerging through Hurricane Jeanne with only
minor damage, again, is a miracle. "
Port Managing Member Frank P.
Crivello stated: "Innovation Centre was
constructed a little over a decade ago. It was
built to withstand hurricane winds. The
Canaveral Port Authority, www.portcanaveral.com,
again did a fabulous job of preparing Port
Canaveral and its tenants for the evacuation as
it did with Hurricane Frances. 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.
Safe Harbor Statement Under the Private
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
from those statements. Factors that could cause
or contribute to such differences include, but
are not limited to assumptions relating to the
marine market and that there will be no
unanticipated material adverse change in PI's
operations or business.
Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com
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©
2004 Phoenix Investors, LLC