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 4.6 Acre Parcel in West Palm Beach, Florida.

WEST PALM BEACH, FL - June 11, 2002 - Reichel Realty is pleased to announce the sale of 4.6 Acres located on Okeechobee Boulevard in West Palm Beach, Florida.

Christopher Fleming, Sr. Broker/Associate of Reichel Realty & Investments, Inc., handled the sale of Tract "C" of the Okeechobee Boulevard MUPD. Reichel Realty represented the Seller, Blue Green Enterprises, Inc., in the transaction to Palm Beach Motor Cars Limited, Inc. The property is 4.6 Acres located on Okeechobee Boulevard just East of Golden Lakes Boulevard. The property is zoned for a new car dealership and will house the Range Rover line of vehicles. The property sold for $1.275 million or $6.36 per square foot.

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