Shea Commercial, Nation's Leading Developer of Office Condos, Expands Into Denver Market

Mid-Year Groundbreaking Planned for Four Projects Totaling 300,000 Square Feet

Shea Commercial, the nation's largest developer of office condos and a leading broker of office space in Arizona, Las Vegas, and Dallas, announced today its expansion to the Denver, Colo., marketplace. Shea will launch into Denver with the development of four Class A office condo projects totaling 325,000 square feet on 41 acres.

The projects, totaling $35 million, feature office condos -- ideal for small to mid-sized business owners -- from 1,200 to 36,000 square feet, now available for sale. Groundbreaking is expected mid-year, with occupancy slated for first quarter of 2007. Depending on the location, the office condos range from $185 to $235 per square foot.

Shea's Denver projects include:

--  Park Ridge Office Suites, located on the northwest corner of I-25 and
    Lincoln Avenue across from Sky Ridge Medical Center in Littleton, is an
    eight-acre, 6-building, 91,500 square foot project.

--  Crown Point Center, located on E-470 and Parker Road next to Parker
    Adventist Hospital in Parker, is a six-acre, 62,000 square foot project.

--  Lone Tree, located on Park Meadows Drive, east of Yosemite Street in
    Lone Tree, is a seven-acre, 80,000 square foot project.

--  Littleton Office Park, located just north of County Line Road and west
    of Broadway. This 20-acre project will feature 50,000 square feet of
    offices and offer retail and office pads for sale.
    

"As developers and brokers, we are uniquely attuned to the importance of prime locations that offer accessibility, parking and flexibility," says Jim Riggs, president and CEO of Shea Commercial. "Unlike many brokerage firms that focus their efforts on large clients, we concentrate on providing comprehensive services to small and medium-sized buyers, lessors and investors. Our success comes from developing long-term relationships to ensure we meet our clients' current and future needs."

Office condos enable small to medium-sized businesses the opportunity to invest in office space that will build equity and provide tax advantages as well as the ability to customize the space. Typical buyers include physicians, dentists, accountants, lawyers, real estate firms and other professional service firms.

Shea Commercial offers a comprehensive Buyers/Tenants Package to simplify the buying process, saving time and money for new clients. It includes information on preferred lenders, general contractors, space planners, communications systems, office supplies and equipment, furniture and janitorial services that have demonstrated timely, quality services at competitive prices. Many of these providers specialize in serving the small to medium-sized businesses that will fill these new developments.

For more information on Shea Commercial's Denver projects, please contact project brokers Rick Egitto, CCIM, at 720-284-3601, Carole Schumacher at 720-284-3602 of Crimson Services or Company President, Jim Riggs at Shea Commercial's Scottsdale office at 480-451-9077.

About Shea Commercial

Scottsdale, Ariz.-based Shea Commercial operates as a developer and broker of office condominium properties. With approximately 2 million square feet developed in seven states, Shea Commercial has earned multiple NAIOP (National Association of Industrial and Office Properties) awards including Arizona Chapter's 2004 Deal Maker of the Year, as well as the 2003 and 2002 Developer of the Year awards. The company also received the NAIOP Southern Nevada Chapter's Office Building: Single Story, Small Building of the Year award. The Shea Commercial corporate headquarters and Pima Commerce property received the "2004 Talk of the Town" award by members of the Phoenix Business Journal. In addition, Shea Commercial was recognized by bizAZ as a 2004 Hot Growth Company. Shea Commercial also maintains offices in Dallas, Las Vegas and Denver. For more info visit www.SheaCommercial.com or call 480-451-9077.

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