SARES REGIS GROUP OF NORTHERN CALIFORNIA
ACQUIRES BAYSIDE BUSINESS PARK IN FREMONT, CA

Second Industrial Property Purchased in the Last 60-Days

SAN MATEO, CA –June 9, 2008 – San Mateo based Sares Regis Group of Northern California has acquired Bayside Business Park, a 246,500 square foot, fully leased industrial office complex in Fremont. Built in 1989, the facility is strategically located near Interstate 880, providing convenient transportation access to the entire Bay Area, its three international airports and the ports of Oakland and Richmond. Sares Regis Group paid just over $21 million and the entire industrial office space and adjoining warehouse were leased to Supermicro Computer in March of this year.

“This deal advances the goal of expanding our industrial real estate holdings in the Bay Area,” said Jeff Birdwell, president of the commercial division of Sares Regis Group of Northern California. “Bayside Business Park provides us with a superb location in a tightening industrial market.” With the new acquisition, the company is now managing nearly two million square feet of industrial space in the East Bay region that is under its ownership and/or being managed for its institutional clients.

Greig F. Lagomarsino, SIOR and Todd O. Severson, SIOR of Colliers International’s Oakland office represented the seller. Sares Regis Group represented itself in the transaction. Irvine-based Sares Regis Group, an affiliate of Sares Regis Group of Northern California, has actively collaborated on the acquisition of this business park.

“The Fremont real estate market is vibrant given its close proximity to Silicon Valley,” said Birdwell. “The development opportunities in the area are becoming constrained with the lack of available land for new projects and limiting any new development of industrial and warehouse product for the foreseeable future.”

Last month, Sares Regis Group purchased Pinole Point Business Park, a 475,000 square foot of industrial park consisting of three warehouse buildings on thirty acres, plus an additional 43 acres of adjacent developable land. Plans call for construction to begin in the first quarter of 2009 with completion in early 2010. When completed Pinole Point Business Park will have a total of 1,055,000 square feet of state-of-the-art warehouse and light industrial space.

Sares Regis Group of Northern California and its affiliates, Regis Homes of Northern California and Regis Contractors of Northern California are regional companies based in San Mateo, California and are affiliated with Irvine-based Sares Regis Group. Sares Regis Group is one of the leading developers and managers of commercial and residential real estate in the western United States. Today, the companies have more than 6.5 million square feet of commercial properties valued at $500 million and over 2,800 residential units under development. Sares Regis Group has a combined portfolio of property and fee-based management contracts valued at more than $4 billion, including 13,000 rental apartments and 15 million square feet of commercial and industrial space. Since its inception the company has acquired or developed approximately 44 million square feet of commercial properties and 19,000 multifamily and residential housing units.

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