Eastern Coast Management, LLC Announces Acquisition of former Premier Cruise Lines, Inc. office building in Port Canaveral
Port Offices, LLC, a company formed for this transaction, closed on the 68,000 square foot Class A Office Building and announced that Innovation Centre will be developed in its place for aerospace, high technology, and marine tenants.
Cape Canaveral, FL (PRWEB) August 27, 2004 -- Eastern Coast Management, LLC ("ECM") announced today that Port Offices, LLC, ("Port") acquired from Allied Capital Corporation, www.alliedcapital.com ("Allied"), Washington, D.C., the office building that was the headquarters of Premier Cruise Lines. Premier Cruise Lines, Inc. filed for Chapter 11 of the bankruptcy code and eventually was liquidated. Allied became the owner of the property after it foreclosed on the former owner.
The property is approximately 68,000 square feet and is one of the few Class A office buildings in Brevard County and nearby NASA. Port Offices has renamed the property Innovation Centre" and is pursuing a vision that includes the addition of office structures on adjacent land.
For the Innovation Centre building, Port seeks tenants that are leaders in aerospace, high technology, and marine commerce. ECM will manage the project for Port. Ports members include Frank Crivello, www.crivello.com, and Lloyd Milliken.
Lloyd and I are extremely excited by this acquisition and the opportunity to develop Innovation Centre in Port Canaveral," Port Offices Managing Member Frank P. Crivello said. Port Canaveral is bursting with commercial activity and we are pleased to be a part of it. As well, Lloyd and I are excited to work together on this and other projects in Port Canaveral."
About Eastern Coast Management, LLC www.ecmgt.net:
ECM is focused on real estate and marine investments in the southeastern United States. For approximately twenty five years, as principals, ECMs team has been involved in all facets of real estate development, rehabilitation, and investments. In addition, ECMs team has offered professional management and advisory solutions to public and private companies, trusts, and individual investors. For approximately five years, as advisors or principals, ECMs team has been involved in marine investments of various types.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the Company could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to, assumptions relating to the commercial real estate market and that there will be no unanticipated material adverse change in ECM's operations or business.
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