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Frank Crivello, 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 ("Eastern Coast"), 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 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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