Twinrose Development Company, Twinrose Investments, Commercial Real Estate, Investments, Developments

PRESS RELEASE

May 27, 2008

Twinrose Development Starts Two Industrial Buildings In DFW Airport’s International Commerce Park

IRVING, TEXAS – Twinrose Development Company, on behalf of Twinrose Regent, a group of investors assembled by Twinrose Investments, has started construction on two industrial buildings at Dallas/Ft. Worth International Airport’s International Commerce Park.

Named Twinrose Regent I and II, the development is the first project for woman-owned Twinrose Development Company, said Rebecca Tudor, who holds a majority interest in the project, serves as manager of Twinrose Regent and is managing partner of Twinrose Development Company.

The development had a long way to go from an idea to actual construction, noted Tudor. “Beginning with the site selection process, many people contributed their time and talents to bring this project into being, starting with the staff at DFW,” she said.

“Tiffini Miller was the primary contact for leasing at International Commerce Park, and we had an excellent experience working with her through the lease negotiation process. John Terrell is vice president of commercial development of DFW International Airport and submitted the Regent proposal to the DFW Airport Board; we worked with John and Jeff Fegan, CEO of the DFW Airport Board, on the board approval process,” said Tudor.

"We are delighted to welcome this new developer to the airport community and to InternationalCommercePark," said Terrell. "We continue to see high demand for global businesses wanting quick, efficient access to global markets through DFW. Twinrose is well-positioned to be a key new resource for international companies."

"DFW is excited to be doing business with a woman-owned business on this project,” said Don O’Bannon, vice president of the Small and Emerging Businesses department at DFW. “The Airport recognizes that the most significant element of our M/WBE program is the impact the program has had upon the development of a strong pool of minority and women-owned business and this is an example of that commitment.”

The 316,500-square-foot buildings are slated for occupancy in December. Located at 2611 Regent Blvd., Regent I is a 256,500 square-foot, 30’ clear, 450’ wide cross-dock facility with three office entrances. The space is divisible to three suites, although Tudor said she is targeting tenants that use 62,000 square feet up to a single tenant.

Regent II, located at 2555 Regent Blvd., consists of 60,000 square feet that can be divided for two tenants, 20,000 square feet or larger. It has 24’ clear height and is a 200’ deep rear load building. Both Regent I and II have 140’ truck courts and 50’ x 50’ column spacing.

Steve Heldenfels with Holliday Fenoglio Fowler connected Tudor with Brian Schneider of Hillcrest Bank who provided the construction loan for Twinrose Regent. "The project is very well thought-out and planned for the tenant. The end product will be reflective of the planning that went into Twinrose Regent before it was constructed,” said Schneider, Texas market president, Hillcrest Bank.

Tudor and the company she started in 2006 with Hal Hardister have been working on the site since July 2006. “The project team was selected first, because of the quality of their work and second, because the experience they brought to the table,” said Hardister.

Halff Associates is the architect of record for Twinrose Regent I and II and Bob Moore Construction is the General Contractor. At Twinrose Development, Tudor calls upon her 20 years in commercial real estate, from her tenant rep days at Trammell Crow Company to her Holliday Fenoglio Fowler financing experience and her Crescent Real Estate asset management experience. Tudor has responsibility at Twinrose for site selection, acquisitions, legal and financial structuring, design and financing.

Hardister, having been involved in over 6 million square feet of construction and development management draws on his 20 years of previous experience to lead the design, permitting, contracting and quality control for Twinrose.

"Twinrose Development, under the leadership of Rebecca Tudor and Hal Hardister, is just the kind of development partner we are looking for in Irving," said John M. Bonnot, vice president of economic development for the Irving Economic Development Partnership. “We are pleased that Twinrose has recognized the need and growing demand for quality, cross-dock distribution facilities on DFW Airport property, and have chosen to invest in our community for this project."

Tudor said there was a celebratory ground breaking on May 15 in large part to “acknowledge the talents of many people who have contributed to the success to date. People don’t realize how long it often takes to do a project right; I’ll never forget the people who made Twinrose Regent I and II possible,” she said.

ABOUT TWINROSE DEVELOPMENT

Twinrose Development Company is a full-service development and construction management company working with office, industrial and retail projects and is a certified WOBE by North Central Texas Regional Certification Agency. It is a sister company to Twinrose Investments, which owns, manages and leases a portfolio of office, industrial and retail properties including Hillside Village in Dallas.