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Cornerstone Homes To Relocate Mesa Headquarters At Dover Industrial Park Daedalus Real Estate Advisors to Develop Facility and Two Additional Buildings

MESA, Ariz. (October 13, 2005) - Cornerstone Homes of Mesa has signed a lease agreement with Dover Associates, LLC for a 20,000 square foot headquarters office to be built at Dover Industrial Park, located at the northwest corner of Greenfield and McDowell roads in North Mesa. Dover announced plans to build two additional speculative buildings on adjacent property at the same time, making the new project a 50,000-square-foot, three-building endeavor.

Cornerstone Homes, founded in 1998, is a Mesa-based homebuilding firm. The company specializes in creation of production and custom homes, as well as custom lot development and land entitlement. The partnership is led by CEO Todd Tucker, a Mesa native and current resident.

The Cornerstone Homes building will contain 20,530 square feet of space and be situated with McDowell Road frontage. One of the speculative buildings will contain 20,097 square feet of space, featuring 22-foot clear height and two grade-level dock doors. The second speculative building will contain 9,868 square feet with 18-foot clear height and two grade-level dock doors. Both speculative buildings are being marketed for lease. The buildings are configured for 75 percent office use and 25 percent warehouse space.

Construction of the three buildings is planned to begin during the fourth quarter of 2005 and completion is anticipated in mid-year 2006.

"Demand for industrial product in this area is very strong," says Joe Isbell, with Daedalus Real Estate Advisors. "Mesa's industrial vacancy rate has fallen significantly. Many companies are pursuing industrial product of this type. The Falcon Field business district has attracted a great deal of interest and we're optimistic that these new buildings will lease quickly to businesses seeking the high quality business environment found in this area."

Phoenix-based Dickinson Architects designed the project. Kennedy Design Build, a Mesa business with offices at Dover Industrial Park, will serve as contractor of the three buildings. Joe Isbell with Daedalus Real Estate Advisors is the exclusive agent for the two speculative buildings.

Dover Industrial Park is a 65-acre industrial, office and commercial development park at the northwest corner of Greenfield and McDowell Roads in North Mesa. Dover Industrial Park currently includes Aliant Tech Systems (ATK); Hunter's; Kennedy Design Build; Trans-Matic; and Standard Bolt/Chrome Hardware Supply. Dover Associates, LLC purchased the park in 1999 from The Boeing Company.

Improved lots as well as the opportunity for build-to-suit leasing are currently available. Contact Joe Isbell for more information (602) 889-2300.

About Daedalus Real Estate Advisors, LLC

Daedalus Real Estate Advisors, LLC, is a Phoenix based commercial real estate services company that provides investment, development and communications consulting to corporate real estate clients. Recognized in 2004 and 2005 as one of the state's most influential developers by Arizona Business Magazine Daedalus Real Estate Advisors, LLC creates exclusive lifestyle experiences through office, industrial, retail, golf and residential development. For more information visit www.daedalusllc.com

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