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Samuelson Mckone Development To Build At Dover Industrial Park

MESA, Ariz. (Nov.23, 2005) - Samuelson McKone Development of Phoenix has purchased 5.33 acres within the Dover Industrial Park, according to park developer and broker Daedalus Real Estate Advisors, LLC.

Samuelson McKone is a Phoenix-based development firm that was formed in 2004 by California-based Jack Samuelson and Danny McKone, a Valley native. Each has significant experience in metro Phoenix real estate development and leasing.

Dover Industrial Park is located at the northwest corner of Greenfield and McDowell roads in North Mesa. The park contains 65 acres of industrial, office and commercial development land.

Samuelson McKone has acquired the parcel with frontage on McDowell Road situated just west of the intersection with Greenfield Road. The firm plans to construct two speculative office/industrial buildings that approximately total 67,400 square feet of space. One building will contain 27,800 square feet and is designed to accommodate multiple tenants. The second building will contain 39,600 square feet and is planned as a single-user or multiple tenant facility. Construction is scheduled to begin in spring 2006 and completion is planned for fall 2006.

With the Samuelson McKone project, there are now four new development projects currently underway within Dover Industrial Park. Hewson Dover Business Center will contain five multi-tenant industrial buildings. Three of the five buildings are scheduled for completion by year-end. Greenfield Airpark, situated on 6.26 acres, will contain four industrial/office condominium buildings. Cornerstone Homes' corporate headquarters will be underway soon and will contain approximately 20,000 square feet of space. In addition, park owner Dover Associates will begin construction next month on two speculative industrial buildings, one featuring 20,000 square feet and the other approximately 10,000 square feet.

Dover Industrial Park is already populated by a variety of impressive local and national corporate businesses. Aliant Tech Systems (NYSE: ATK) is based in Minneapolis, MN; Trans-Matic is based in Holland, MI and locally headquartered Standard Bolt/Chrome Hardware Supply, Kennedy Design/Build, and Hunter's either own or lease facilities in the park. Developments in the park currently are 90 percent occupied; land in the park is 84 percent sold.

"We've sold more than 50 acres within the park and are excited about the projects being developed," says Joe Isbell, chief operating officer and designated broker for Daedalus Real Estate Advisors. "Our park has been enthusiastically received by the market and its popularity has grown stronger with the opening of nearby Red Mountain/Loop 202 freeway extensions and the growth of luxury and affordable residential in the area."

Dover Industrial Park is part of the Falcon Field Business District, an area encompassing more than 1,000 acres of industrial zoned lands and currently containing more than 3.2 million square feet of commercial space. The Business District stretches from the Red Mountain/Loop 202 freeway on the north, Brown Road on the south, to Val Vista Drive on the west and Power Road on the east. The area has been a longtime hub for corporate manufacturers such as Boeing, Special Devices, Inc., MD Helicopters, TRW and Talley Defense Systems.

Kris Martin of Grubb & Ellis BRE represented Samuelson McKone in the land acquisition transaction. Joe Isbell of Daedalus Real Estate Advisors LLC represented the owner, Dover Associates, LLC. Kris Martin has been selected to handle leasing of the Samuelson McKone buildings.

About Samuelson McKone
Samuelson McKone is a Phoenix-based commercial development firm formed by experienced real estate professionals Jack Samuelson and Danny McKone. Samuelson has been developing office, industrial and retail properties in the metro Phoenix marketplace since 1978. McKone is a Phoenix native with more than 15 years of experience in leasing, sales and development of commercial properties in the Southwest. Samuelson McKone is actively building a portfolio of quality projects with a long-term hold strategy. The firm considers retail, office, industrial and multi-family real estate opportunities. Samuelson McKone recently purchased an office building at 1300 E. Missouri Ave., which will serve as its headquarters. Samuelson McKone can be reached at (602) 918-0001.

About Dover Industrial Park
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.

About Falcon Field Area Alliance
The Falcon Field Area Alliance is a privately funded non-profit 501C6 corporation which is governed by a local Board of Directors. The Board has broad-based membership and is inclusive of the many different groups and interests in and around the Falcon Field area. Daedalus Real Estate Advisors, LLC, developer of Longbow Business Park & Golf Club and Dover Industrial Park, is the sponsoring partner. For more information visit www.falconfieldarea.org.

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. Daedalus was recognized in 2004 and 2005 as one of the state's most influential developers by Arizona Business Magazine. Daedalus Real Estate Advisors creates exclusive lifestyle experiences through office, industrial, retail, golf and residential development. For more information visit www.daedalusllc.com

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