Strong Leasing at Liberty Square

July 2009 - At a time when most local and national markets are seeing significant increases in vacancy rates, FRI Investors has recently signed three new tenants to occupy over 32,000 square feet in Two Liberty Square in the downtown Greenville market. Brown Mackie College will occupy over 25,000 square feet, Lincoln National Life Insurance Company will take 3,000 square feet and the GSA has occupied 4,200 square feet. Additionally Liberty Square has renewed over 40,000 square feet of existing tenants including Dority & Manning PA, Ernst & Young, Robert Half and Coppedge & Tison.

“It is very significant to have landed such quality new tenants in a difficult market” commented Jonathan Cameron-Hayes, President of FRI “and I am also pleased that our tenant base continues to see the benefit of long term commitments to our buildings and the CBD. We continue to believe that Greenville will turn the corner faster than most cities especially with the commitment made by the City, Chamber and the Downtown Owners to solicit new business from outside the local market.”

Clay Mardre of NAI Earle Furman noted, “We have several active prospects for an additional 20,000 feet of space in the Liberty Towers. We have really seen the activity level pick up in the last few months, particularly for downtown space.

Palm Beach County Convention Center Hotel Development

July 2009 - FRI Investors is bidding to develop the Palm Beach County Convention Center Hotel in downtown West Palm Beach. Together with The Ecclestone Organization, FRI has assembled an impressive team to complete this development. The landmark hotel designed by Bounds and Gillespie will consist of 400 rooms and will be operated by Starwood’s Westin brand. The building will be located adjacent to the Convention Center and across from City Place, West Palm Beach’s premier shopping and entertainment district.

FRI considering large acquisition for development

FRI Investors is currently considering purchasing a 55 acre site on 45th Street in West Palm Beach formerly the Palm Beach Jai Alai fronton owned by boxing promoter Don King. FRI intends to develop up to 600,000 square feet of flex and distribution space. The fronton closed more than a decade ago and FRI hopes to take what has been an abandoned property and convert it to a tax and job-generating employment center.

The local municipalities are very excited about the opportunities FRI Investors presents with this purchase since it provides a rare product in Palm Beach County: flex and distribution space. FRI hopes to begin construction, which includes demolishing the vacant fronton, by September, 2009.

FRI Investors, Inc. Acquires Liberty Square

July 2006 - FRI Investors, Inc. is pleased to announce its latest acquisition of One and Two Liberty Square, two Class “A” mid-rise office buildings totaling 419,547 square feet. Located at 55 and 75 Beattie Place in the heart of vibrant Dowtown Greenville, South Carolina, the center of business activity in the Greenville-Spartanburg area. One and Two Liberty Square were constructed in 1983 and 1986 respectively and extensively renovated in late 2005. Notable tenants include NHP Management Company (an AIMCO Company), KPMG, Jackson Lewis, Gallivan, White & Boyd, Dority & Manning, Commerce Club, Ernst & Young, Haynsworth, Sinkler, Boyd and Robert Half International.

New Name Reflects Regional Growth

February 2006 - Celebrating its tenth anniversary, Florida Realty Investments announces the change of its name to FRI Investors. This change reflects the regional expansion of the Company with assets throughout the Southeast U.S.

Beginning with its first acquisition in 1995, a 40,000 square foot office building in South Florida, the company has grown dramatically in size and stature, and today owns a portfolio of over 2.2 million square feet throughout the Southeast.

Its principals, Michael McCloskey and Jonathan Cameron-Hayes along with their talented staff have carefully selected their acquisitions and have achieved superior returns for their investors and maintained an excellent relationship with their institutional lenders.

“ With our strong history and substantial relationships with national tenants, institutional financing sources with a significant presence in multiple markets, I see ourselves well positioned to continue to work at the highest level of the commercial real estate industry” states Michael McCloskey, Chairman and CEO. “Our new name reflects our objective to continue our past successes on an even larger basis.”

Regions Center to receive a 27,000 square foot addition

AmSouth Center - Birds Eye View Below are renderings of the proposed two-story, 27,000 square foot building addition for Regions Center in Nashville, TN. The building will replace the existing plaza on the corner of Union Street and 3rd Avenue. The addition is designed for a restaurant on the 1st floor and fitness facility on the 2nd floor. Currently under construction across the street is the new city park complete with lawn water features, lush landscaping and a new 1200 space underground city owned parking garage is scheduled for completion in August 2006.

Citigroup develops 33 acres in Carolina Corporate Center

May 2004 - Citigroup, through its subsidiary CitiCards, has acquired 33 acres of land at Carolina Corporate Center for the development of a two-phased, 350,000 square foot office building to be used as a call center. This is the largest transaction the market has had in 2004 and reinforces Carolina Corporate Center's location as the up-and-coming place to be.

Citigroup selected this site based upon its:

Excellent location and access to the interstate road system and the recently opened southern connection of the Greensboro loop road.
State-of-the-art infrastructure with dual feed power and sonet ring.
Attractive campus style setting with excellent amenities.
A large well-priced labor pool.
The development of the new FedEx hub at the Piedmont Triad International Airport.

The images shown above reflect the rapid pace of construction being made. CitiCards will be open for business in October 2004, six months after closing the land acquisition.