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Frank Crivello, 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 ("Eastern Coast"), 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.
Eastern Coast 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 Phoenix Investors with real estate management and advisory services.
About Phoenix Investors, LLC, www.phoenixinv.com:
Since 1994 Phoenix Investors 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 Phoenix Investors 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 Phoenix Investor's operations or business.
Contact:
New-School Communications, LLC
Blois Olson, 651-221-1999
www.new-school.com
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