Al. Neyer, Inc. to develop, design and build $5.2 million office building in Blue Ash

Construction to begin on 35,000-square-foot project in January 2005

CINCINNATI - Al. Neyer, Inc., a national development and design-build company, will break ground in January 2005 on a 35,000-square-foot speculative office building in Blue Ash, Ohio, a northeastern suburban community in Greater Cincinnati that is a hub for corporate headquarters.

The new building will be the second at Lake Forest Pointe, an Al. Neyer-developed office campus at 4747 Lake Forest Drive, near the Reed Hartman Highway intersection. The first building, at 44,000 square feet, is 100% leased to Modern Office Methods and Sunny Delight Beverages Co., which leased 18,922 square feet there in August. Wayne Hach, principal with Cincinnati Commercial Realtors, was the listing broker on the Sunny Delight lease.

"We're encouraged by positive response to the Lake Forest Pointe project," according to Jim Neyer, Vice President, Real Estate Development. "We have significant interest from several prospective corporate tenants, who like the building's design, location and amenities, such as structured parking under the building."

"Lake Forest Pointe II is significant because it represents speculative office development," according to Chris Dobrozsi, Director, Real Estate Development, Al. Neyer, Inc. "We believe a recovery of the office market is under way."

Al. Neyer began developing Lake Forest Pointe in 2001.  It is less than ½ mile from a municipal airport and numerous hotels and conference facilities, and centered within the Blue Ash business district that includes major corporate facilities for Procter & Gamble, Sara Lee and Ethicon Endo-Surgery.  The second phase of Lake Forest Pointe represents a $5.2 million investment.

Founded in 1894, Al. Neyer, Inc. is a real estate developer and design-build firm that focuses on commercial, industrial and urban development opportunities. For company information and current projects, visit www.neyer.com

Contact:
Gail Paul
Corporate Communications
Al. Neyer, Inc.
(513) 527-1887
(513) 379-8153
www.neyer.com