Shorenstein Press Releases

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Sarah Keaton
Shorenstein Properties LLC
PH: 415/352-7295
FAX: 415/772-7048

Andrew Neilly
Gallen.Neilly & Associates
PH: 925/930-9848
FAX: 925/930-9903

Shorenstein Closes N.Y. Deal

By: Amanda Bishop - San Francisco Business Times

- October 5, 2000 - San Francisco-based Shorenstein Co. has sold another property -- this one in Garden City, N.Y. Kammeby's International Ltd. of New York bought the 600,000-square-foot building in a deal that closed Oct. 4.

The building is fully leased with Morgan Stanley and Merrill Lynch as major tenants.

"It's a property we added value to," said CEO and Chairman Doug Shorenstein. "The building is very stable from a leasing and capital viewpoint. We've added all the value we can, so it makes sense to harvest." He declined to reveal the sales price.

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