PRESS RELEASE

March 24, 2009
For more information, contact:
Neil Efron
561-966-0070, ext. 15

Noble Properties Closes on $6MM Publix anchored center in record time

April 24, 2009, GREENACRES, FLORIDA – Noble Properties recently closed on the purchase of the Village Shopping Center in Jacksonville. The center is 135,000 square feet and is anchored by a 65,000 square foot Publix and a 35,000 square foot Beall’s Outlet.

The transaction was an all cash deal with no financing contingency and with a 21 day due diligence followed by an immediate closing. Noble was able to complete their thorough due diligence early and wound up closing in only 19 days.

The center was 98% leased at the time of closing. Noble was able to deliver this quick deal because of their strong balance sheet and longtime track record of successful retail ownership.

Noble Properties is a South Florida based owner with over 3,000,000 square feet of retail and medical office space. They are actively seeking to acquire shopping centers and medical office buildings throughout the Southeast and Western United States. The primary focus for retail is on food anchored centers in major metro areas with at least 50,000 people in a 3 mile radius. The focus for medical office is for deals at least 30,000 square feet in major metro areas and located either on the campus of a hospital or near one or more major hospitals.

Noble will typically buy the properties all cash with no financing contingency and with a very short due diligence time period. As a no-nonsense buyer, Noble has a strong track record of always closing deals they put under contract. With the financing markets in turmoil there are few buyers that have the ability to actually close on a deal. Only those with Noble’s financial wherewithal can actually deliver a closed sale.

Noble is one of the largest private commercial real estate owners based in South Florida. Noble’s western office is based in Las Vegas, Nevada.