FOR IMMEDIATE RELEASE

CONTACT:
Sheryl L. Cautero
Office Administrator
Reichel Realty & Investments, Inc.
4524 Gun Club Road, Suite 212
West Palm Beach, Florida 33415
(561) 478-4440, Fax (561) 478-4442
scautero@reichelrealty.com
www.reichelrealty.com

Reichel Realty successfully completes Sale of Office Complex in North Palm Beach, Florida.

WEST PALM BEACH, FL - March 1, 2002 - Reichel Realty is pleased to announce the sale of The Globe Office Complex, a 26,000sf office project located at 741 U.S. Highway One, North Palm Beach, Florida. The office complex was sold to Glasgow Globe, LLC, as assignee of Glasgow Realty, LLC of Boca Raton, Florida. The sale is valued at $2,450,000.

William B. Reichel President successfully handled the transaction. Reichel Realty & Investments, Inc., was the exclusive listing broker on behalf of the Seller, David Associates IV, LLC of Palm Beach, Florida.

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