Cushman & Wakefield Selected Leasing Agent for Business Park’s First Building

DALLAS, TX – December 15, 2006 –Pleasant Run Partners LLC has contracted to purchase a 29.4 acre site in the Sunridge Business Park located east of Interstate Highway 45 on Pleasant Run Road in Wilmer, Texas, and will begin development of the park’s first distribution facility, I-45 Transport I, in early 2007 with completion expected in the 4th Quarter of 2007. Dan Cook, senior director, Gary Collett, senior director, and Craig Hughes, director, with Cushman & Wakefield of Texas, Inc., will act as the exclusive leasing agents for the 520,000-square-foot building..

“I-45 Tradeport I is ideally suited for large distribution companies,” said Mr. Hughes, “with more than 167 secured trailer storage positions and a truck queuing area, the building provides competitive features that large logistics companies are demanding in today’s modern distribution facilities.”

“This building is our first major success story,” said Don Hudson, Mayor of Wilmer. “It will broadened our tax base by $60 million., which will enable the city of Wilmer to enhance many services for our citizens including emergency services and, as years go by, renewed infrastructure. The benefits from what they are doing are astronomical and we are very excited.”

Sunridge Business Park is a 327-acre development owned by Prime Rail Interest. With close proximity to both the Union Pacific-Dallas Intermodal Terminal, which opened August 24, 2005, and the proposed BNSF Intermodal Terminal, the park is ideally situated for transloading of shipping containers and the distribution of imported products from the Pacific Rim and abroad. The park is also at the crossroads of Interstate 45 and Interstate 20 which make the proximity ever more valuable to logistics users and tenants. A container storage facility will open January 2007 within Sunridge with a capacity of 3000 containers and 300 loaded trailers in Phase I and will operate 24/7, providing added flexibility for shippers and distributors that require immediate access to the Intermodal facilities..

Wilmer, Texas, is considered the next frontier of industrial development. Freeport Tax Exemptions are available and the area is located within the DFW Foreign Trade Zone.

The development sponsor is Industrial Works Investments (IWI), a Dallas-based investment firm with a national platform for development and acquisition of industrial distribution facilities. IWI has projects underway in Wilmer, Cleveland, and Nashville and will pursue investments in both primary and secondary industrial markets throughout North America. “Dallas is considered a major gateway to the southwest”, says Stephen Sanders, managing general partner with IWI , “and the region benefits from four intersecting interstate freeways for the transportation of goods between several of the major seaports and Mexico. This superior interconnectivity along with the Intermodal influence will drive demand for industrial space in the Southern Sector of DFW. This region also benefits from a favorable pro-business climate and aggressive economic development programs that really help make this development highly competitive with other regions of the U.S. and other sectors of DFW. The city of Wilmer has been very supportive of our efforts and we share in their enthusiasm.” The I-45 Tradeport I development team includes architecture firm, Gromatzky Dupree and Associates; general contractor, Cadence McShane Corporation; and engineering contractor, Pacheco Koch Consulting Engineers, Inc.