EX-99.1
8
ex99_1.htm
EXHIBIT 99.1
ex99_1.htm
Exhibit 99.1
Contact
:
Dominic
Petrucci
Chief
Operating Officer
Cornerstone
Ventures, Inc.
949
263 4340
dpetrucci@cvinc.net
Cornerstone
Core Properties REIT, Inc. Announces Purchase Of
Monroe
North CommerCenter For $14.3 Million
Irvine, CA - April 17, 2008
-
Cornerstone Core Properties REIT, Inc (CCP REIT) announced today it has purchase
an existing multi-tenant industrial property known as Monroe North CommerCenter
for approximately $14.3 million. Monroe North CommerCenter consists
of two industrial buildings ideally located in the metropolitan Orlando, Florida
area. The property is currently 100% leased to 15 different tenants
whose spaces range in size from approximately 7,300 square feet to approximately
29,000 square feet. The property has approximately 181,300 square
feet of space situated on approximately 14 acres of land.
Metropolitan
Orlando's central location offers almost equidistant access to the state's other
major metropolitan centers, positioning the region as a hub with quick, easy
access to air, land and water transportation routes. The networks of
air routes, rail systems and interstate highways, as well as nearby deep-water
ports, are attractive to various manufacturing, warehouse and distribution
businesses. Monroe North CommerCenter benefits from a desirable North
Orlando location and from immediate access to a major interstate highway
interchange.
Scarcity
of available industrial land in Central Florida combined with rising
construction costs have made it difficult for developers to get a foothold in
the Orlando industrial market. According to CB Richard Ellis, Central
Florida remains an economically over-performing metro area and will remain in
that category in the foreseeable future, due to strong demographic trends and
moderate costs of living. According to CB Richard Ellis, industrial
real estate in the first quarter of 2008 closed with an overall vacancy rate of
8.8% in the Orlando metropolitan market while average overall first quarter 2008
rental rates for the Orlando area were slightly higher than for the fourth
quarter of 2007.
CCP REIT
is a publicly offered, non-traded real estate company investing primarily in
multi-tenant industrial properties located in major metropolitan markets
throughout the United States. While the CCP REIT may use some degree
of debt financing for acquisition, working capital, tenant improvements, capital
improvements and cash distributions, it intends to own and operate its
properties on an all-cash basis thus mitigating foreclosure and interest rate
risk.
This
release may contain forward-looking statements with the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934, including discussions regarding Cornerstone Core Properties REIT, Inc's
use of proceeds and certain other factors that may affect future earnings or
financial results. Such statements involve risk and uncertainties which could
cause actual results to vary materially form those expressed in or indicated by
the forward-looking statements. Factors that may cause actual results to differ
materially include changes general economic conditions, changes in real estate
conditions, construction delays, changes in interest rates, lease-up risks, lack
of financing availability and lack of capital proceeds. This is not an offer or
a solicitation to purchase securities. Such an offer can be made only
by means of a prospectus that includes more complete information on the fees and
risk factors involved. Investors should read a prospectus carefully before
investing. To obtain a prospectus, please contact your investment
professional or Pacific Cornerstone Capital, Inc. at 1920 Main Street, Suite
400, Irvine, CA 92614 (877 805 3333). Securities offered through Pacific
Cornerstone Capital, Inc. Member FINRA and SIPC. Investments are not FDIC
insured, not bank guaranteed and may lose value.

EX - 99 . 1 8 ex99 _ 1 . htm EXHIBIT 99 . 1 ex99 _ 1 . htm Exhibit 99 . 1 Contact : Dominic Petrucci Chief Operating Officer Cornerstone Ventures , Inc . 949 263 4340 dpetrucci@cvinc.net Cornerstone Core Properties REIT , Inc . Announces Purchase Of Monroe North CommerCenter For $ 14.3 Million Irvine , CA - April 17 , 2008 - Cornerstone Core Properties REIT , Inc ( CCP REIT ) announced today it has purchase an existing multi - tenant industrial property known as Monroe North CommerCenter for approximately $ 14.3 million . Monroe North CommerCenter consists of two industrial buildings ideally located in the metropolitan Orlando , Florida area . The property is currently 100 % leased to 15 different tenants whose spaces range in size from approximately 7,300 square feet to approximately 29,000 square feet . The property has approximately 181,300 square feet of space situated on approximately 14 acres of land . Metropolitan Orlando 's central location offers almost equidistant access to the state ' s other major metropolitan centers , positioning the region as a hub with quick , easy access to air , land and water transportation routes . The networks of air routes , rail systems and interstate highways , as well as nearby deep - water ports , are attractive to various manufacturing , warehouse and distribution businesses . Monroe North CommerCenter benefits from a desirable North Orlando location and from immediate access to a major interstate highway interchange . Scarcity of available industrial land in Central Florida combined with rising construction costs have made it difficult for developers to get a foothold in the Orlando industrial market . According to CB Richard Ellis , Central Florida remains an economically over - performing metro area and will remain in that category in the foreseeable future , due to strong demographic trends and moderate costs of living . According to CB Richard Ellis , industrial real estate in the first quarter of 2008 closed with an overall vacancy rate of 8 . 8 % in the Orlando metropolitan market while average overall first quarter 2008 rental rates for the Orlando area were slightly higher than for the fourth quarter of 2007 . CCP REIT is a publicly offered , non - traded real estate company investing primarily in multi - tenant industrial properties located in major metropolitan markets throughout the United States . While the CCP REIT may use some degree of debt financing for acquisition , working capital , tenant improvements , capital improvements and cash distributions , it intends to own and operate its properties on an all - cash basis thus mitigating foreclosure and interest rate risk . This release may contain forward - looking statements with the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 , including discussions regarding Cornerstone Core Properties REIT , Inc 's use of proceeds and certain other factors that may affect future earnings or financial results . Such statements involve risk and uncertainties which could cause actual results to vary materially form those expressed in or indicated by the forward - looking statements . Factors that may cause actual results to differ materially include changes general economic conditions , changes in real estate conditions , construction delays , changes in interest rates , lease - up risks , lack of financing availability and lack of capital proceeds . This is not an offer or a solicitation to purchase securities . Such an offer can be made only by means of a prospectus that includes more complete information on the fees and risk factors involved . Investors should read a prospectus carefully before investing . To obtain a prospectus , please contact your investment professional or Pacific Cornerstone Capital , Inc . at 1920 Main Street , Suite 400 , Irvine , CA 92614 ( 877 805 3333 ) . Securities offered through Pacific Cornerstone Capital , Inc . Member FINRA and SIPC . Investments are not FDIC insured , not bank guaranteed and may lose value .
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY O O O O O O O O O O O O O O O O O O B-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O