Acquisition and Investment

DENVER – Crown West Realty, L.L.C. recently completed their first acquisition in the Denver metro area. Corporate 25 in Southeast Suburban Denver was purchased from DPC Development Company for $12 Million. Crown West has been on a buying spree in the Phoenix metro area over recent years, accumulating more than 1.2 million square feet of office space. In addition, Crown West Realty owns approximately 5 million square feet of office and industrial space in Spokane,Washington.

Constructed in 1981 and completely renovated in 2004, Corporate 25 consists of three interconnected multi-story buildings totaling 132,800 square feet. On over six acres of land and 410 feet of interstate frontage, this Class A office complex is located within the Southgate Business Center at

7200 South Alton Way , Centennial

PHOENIX – Crown West Realty, L.L.C. recently completed the purchase of the Giant Industries Corporate Headquarters in Scottsdale. This represents the 7th acquisition for Crown West Realty in the Phoenix area over the last three years.

Constructed in 1989 in classic southwest architecture, the structure is a 2 story Class "A" office building located at 23733 North Scottsdale Road and is 100% occupied by Giant Industries. The 66,283 square foot building sits on 8.43 acres and was purchased from Diversified Partners for just under $13.8 million. Crown West intends to sell the Giant headquarters building immediately and use the excess land to develop a new high-end office condominium development.

Richard Rollnick, President of Crown West Realty, states "Crown West anticipates great success with this development. Facility solutions

Spokane company gobbles up properties in Phoenix, plans new buildings here

By Linn Parish
Spokane Journal of Business

Crown West Realty LLC, the Spokane-based owner of the big Spokane Business & Industrial Park, is on an aggressive building-acquisition spree in Phoenix, having been involved with two recent purchases there worth more than $80 million, including one earlier this month.

Those acquisitions, made through a joint venture, bring to six the number of Phoenix-area properties—together worth more than $160 million—that Crown West has acquired in less than three years. And more activity in Phoenix likely is on the horizon, says Crown West President Richard Rollnick.

Meanwhile, Rollnick says, the company plans next year to build four new buildings, with a combined

PHOENIX - Crown West Realty has recently completed their second joint-venture acquisition with St. Paul Properties, a wholly-owned subsidiary of St. Paul Travelers. This purchase, Crown West's sixth in the Phoenix area, boosts their total portfolio size to approximately 1.2 million square feet in the Phoenix market.

The 235,000 square foot Class "A" office building was purchased from Artemis Fortis, LLC for just under $32.5 million. Constructed in 2001, Cambelback Center has nine stories of impressive Class "A" office space with four levels of subterranean parking, and is located in the heart of one of Phoenix's most prestigious office and condominium markets at 2355 East Camelback Road. Neighbors include The Biltmore Fashion Park, Camelback Esplanade, the Ritz Carlton, and historical Biltmore Estates. Camelback

Crown West, partner buy Phoenix office complex in $52 million transaction

By Linn Parish
JOURNAL OF BUSINESS

A joint venture involving Crown West Realty LLC, the Spokane-based real estate company that owns the large Spokane Business & Industrial Park, has bought for just under $52 million the Arizona Business Park, in Phoenix.

Located in northern Phoenix, the property includes 10 buildings with a total of 440,000 square feet of floor space. The acquisition is the largest that Crown West has been involved in to date, the company says.

The complex currently is fully occupied.

It’s home to the 106,000-square-foot corporate headquarters of Bank One Corp. and also accommodates operations for Wells Fargo Bank, the Arizona Conservatory for the Arts

PHOENIX - Announcing today its purchase of the Arizona Business Park, Crown West Realty's commercial holdings now near one million square feet in the greater Phoenix area. This purchase, Crown West's largest to date, is their fifth Phoenix-area acquisition in less than three years and brings the value of their Phoenix portfolio to over $130 million. In addition, this transaction marks Crown West's first acquisition with institutional joint-venture partner St. Paul Properties, a wholly-owned subsidiary of St. Paul Travelers.

Crown West purchased a 10-building portfolio totaling 440,000 square feet within the Arizona Business Park from Estes-Samuelson, LLC, for just under $52 Million. Arizona Business Park is located between Bell and Greenway Roads west of Interstate 17 in the Black Canyon / Deer Valley submarket

By Lee Simmons
GlobeSt.com

PHOENIX-Crown West Realty LLC and St. Paul Properties have purchased 11 buildings in the Arizona Business Park for $52 million. The deal adds 440,000 sf of fully occupied office and flex-office space to the new joint venture's portfolio.

"The opportunity in this deal was the ability to buy the buildings at their current rents and know that we're going to end up with good leasing opportunities in two of the nicest buildings in this area in a short period of time," Richard Rollnick, president of the Spokane, WA-based Crown West Realty, tells GlobeSt.com.

The 50-50 joint venture acquired the buildings from Estes Samuelson LLC of Phoenix, which developed them between 1987 and 2000. Compass Bank of Birmingham, AL

by Beverly Ford
GlobeSt.com

PHOENIX-EaglePicher Technologies has some sky-high aspirations. The privately held advanced-technology firm, which makes batteries for the space station and defense department, has taken on a new challenge--filling a 103,600-sf building in Southbank Business Park with its corporate headquarters.

The company, a subsidiary of EaglePicher Inc., leased the fully furnished 3402 E. University Dr. building from Spokane, WA-based Crown West Realty LLC for the next 13 years at a cost of about $15 million. Renovations, including the construction of a 5,000-sf addition and the upgrading of its manufacturing space, will be done before move-in, which is set for early next year, Bob Olshan, Crown West's asset manager for the Southwest tells GlobeSt.com. Crown West will assist in the

by Beverly Ford
GlobeSt.com

PHOENIX-Commercial turn-around experts Crown West Realty LLC has arranged for $100 million in investment capital to acquire undervalued and distressed properties in the city and other areas of the Southwest.

"Our strategy is to reposition properties that are under-performing and not fully realizing their revenue potential," Bob Olshan, the company's asset manager for the Southwest, tells GlobeSt.com. Petrus Investors 2003 LP has committed $25 million to the $100-million buying pool with the balance coming from supplemental bank facilities.

Olshan says the group currently is conducting due diligence on two metro-area properties: Metro Business Park in Peoria and Lakeview Business Center in Phoenix. The capital infusion will help fund the acquisitions. He says both are multi-tenant

www.highprofileaz.com

Phoenix, AZ,-Crown West Realty LLC recently continued its growth in Phoenix with its third major office complex acquisition. The Spokane, WA based investment firm's buying spree started in 2001 with the 227,000 sf Elliot Corporate Center in south Tempe. The latest acquisitions include the $10 million December 2002 purchase of 103,000 sf at Southbank Business Park and February 2003 $2.1 million purchase of 38,000 sf at 3230 E. Broadway.

"Phoenix was identified as a wonderful growth opportunity for the company," said Scott Brown, Crown West's asset manager. "Crown West seeks challenging assets that afford us an opportunity for upside potential."

Crown West conducts extensive renovations on the properties it acquires and are optimistic about the prospects they represent. The company's latest