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 15,000sf Building on Dixie Highway, Downtown West Palm Beach, Florida.

WEST PALM BEACH, FL - July 15, 2002 - Reichel Realty is pleased to announce the sale of The Professional Arts Building, a 15,000sf mixed-use project located at 310 S. Dixie Highway in Downtown West Palm Beach, Florida. The building was purchased by David Associates VIII, LLC for $1,200,000.

William B. Reichel, President successfully handled the transaction. Reichel Realty & Investments, Inc., exclusively represented the Seller, Professional Arts Building of West Palm Beach, Inc.

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