"Collington Park presents the ideal opportunity to launch Panattoni's premier brand in the Mid-Atlantic region," said D. Reid Townsend, Senior Vice President/Project Principal with Panattoni. "The location, landscaped park setting and variety of product offerings will be attractive to a wide range of tenants. For companies seeking 10,000 or 200,000 square feet, there is a shortage of options for modern, Class A facilities in one of the country's most land constrained markets. Collington Park will service this pent up demand."

Panattoni will develop the site, designed by Morgan Gick McBeath and Associates, which will feature buildings ranging in size from 35,000 to over 125,000 square feet. Panattoni will begin clearing the site in August. Vertical construction will commence in spring 2009, with the first phase available for occupancy as early as September 2009.

"We are already experiencing significant interest in Collington Park," said Mark Glagola, Senior Vice President of Transwestern who represented Panattoni in the transaction and will managing the leasing. "The Park's central location to Washington, DC, Baltimore and Northern Virginia along with direct access to the desirable employment population on the Route 301 corridor are common factors driving tenants to the Collington location." Current tenants in Collington Trade Center include Nordstrom, RIS Paper, Tribbles, Safeway, Buck Distributing and Rexel USA.

Based in Sacramento, CA, privately-held Panattoni Development Company has recently expanded its focus to establish the company's presence in the Mid-Atlantic region. Panattoni consistently ranks as one of the most active real estate developers in the country. Since 2005, Panattoni has developed over 50 million square feet of office, industrial and retail product, although only five-percent (5.0%) has been developed in the Northeast. “With offices now in Baltimore, Reston (VA) and Edison (NJ), Panattoni is well positioned to expand our presence throughout the Northeast,” says Regional Director Daniel S. Hudson.

ABOUT CROW HOLDINGS

Crow Holdings (www.crowholdings.com) is a privately held firm based in Dallas, Texas, that makes investments on behalf of the Trammell Crow family and its investment partners. Today, Crow Holdings has a substantial stake in the ownership of various businesses, both real estate and non-real estate related, with a level of involvement in the management of these companies that ranges from active to passive. Their holdings also include significant, diversified positions in financial investments. Crow Holdings currently oversees a portfolio of over 8.5 million square feet of retail, office and industrial properties, approximately 6,000 multi-family units, more than 1,500 hotel rooms, and approximately 2,000 acres of lot development.

ABOUT PANATTONI DEVELOPMENT COMPANY

Panattoni Development Company (PDC) is a privately held, full service development company founded in 1986. During the last 5 years, the firm has averaged nearly 15 million square feet of development annually. PDC has developed and managed industrial, office and retail facilities in more than 175 markets. The firm is headquartered in Sacramento, California and maintains 35 offices throughout the United States, Canada and Europe.