GID Investment Advisers LLC acquires Stellar Business Center in Chandler, AZ

Boston and San Francisco - (May 26, 2006) - GID Investment Advisers LLC (a division of the General Investment & Development Companies) announced today that it acquired the five building Stellar Business Center in Chandler, Arizona totaling 135,535 square feet.

Stellar Business Center was constructed in 2004 by an affiliate of Principal Financial Group, Des Moines, IA. The property will be renamed Windsor at Stellar Business Center. The property was 62% occupied at the time of sale and is situated on an 11.3-acre site facing Chandler Boulevard in Chandler, AZ. The property is located one mile west of Chandler Fashion Center, a 1.3 million square foot regional mall, and is strategically located in close proximity to Interstate 10, and both the 202 and the 101 Loops servicing the Greater Phoenix area. The property is constructed of structural concrete panels with ample fenestration and parking in excess of 4.2 spaces per 1,000 square feet. The property is occupied by, and well suited to a wide variety of office and light industrial uses for tenants requiring 2,500-25,000 square feet. Tenants include Tokyo Electron, Dynamic Test Solutions, Guardian Protection Services, as well as a number of home-oriented showroom and sales facilities.

Rich Ross, Director of Western Region Acquisitions represented GID in the transaction and said, "Stellar Business Center is a great entry point for GID into the dynamic Phoenix metropolitan area. Furthermore, we are delighted to have an opportunity to participate in the vibrant Chandler marketplace where so much employment and population growth is occurring.”

Bob Karp, GID’s Director of Flex/Industrial Acquisitions added, “Due to GID’s experience in the management and leasing of this product type, we anticipate growing the flex/industrial component of our real estate business dramatically in the next few years, as we feel the product type currently provides a better risk-adjusted return than other real estate classes.”

GID’s flex/industrial portfolio has now grown to three million square feet with locations in seven markets (Atlanta, Austin, Dallas, Raleigh, Richmond, Memphis and Philadelphia), as well as land available to develop another 650,000 square feet. Markets targeted by GID include the Mid-Atlantic region, New Jersey, New England, Chicago, Florida, California, Arizona, Texas, and the Pacific Northwest. The company’s investment strategy is to acquire properties built since 1980 with quality tenant rosters in institutional locations.

For further information, contact Rich Ross at 415-464-1352 or rross@generalinvestment.com.