The Siegel Group Completes Disposition of Phoenix Commercial Shopping Center

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The Siegel Group, Inc., a Commercial Real Estate & Business Development Company, today announced that it had completed the disposition of BT Center, a 7.66 acre commercial shopping center with 66,775 square feet of leaseable space located in Phoenix, Arizona. The sales price was $8.95 million. The Siegel Group acquired the property in June 2004 at which time the center was mismanaged with a vacancy rate of nearly 80 percent. SASCO Properties, Inc., an affiliate of the Siegel Group, immediately assumed operational control of the property and successfully repositioned the center, increasing the occupancy rate to approximately 93 percent.

We are enormously pleased with the disposition of BT Center. At the moment we are focusing our efforts on the Nevada market which we believe holds more value and opportunity for us compared to any area of the country.

    Stephen Siegel, President and Chief Executive Officer of The Siegel Group, said: "We are enormously pleased with the disposition of BT Center. At the moment we are focusing our efforts on the Nevada market which we believe holds more value and opportunity for us compared to any area of the country."

About The Siegel Group, Inc.

The Siegel Group, a Commercial Real Estate & Business Development Company with offices in Studio City, California & Las Vegas, Nevada, is a full-service real estate development company founded by Stephen Siegel with expertise in acquisitions, financing & development, property management, and leasing and rehabilitation. The Company's Real Estate Division manages the firms' acquisition, disposition, and development of commercial real estate; a portfolio comprised of multi-family and Flexible-Stay units, commercial shopping centers, office buildings, and hotel developments. For more information on The Siegel Group and its affiliates, visit the Company's website at http://www.siegelcompanies.com.

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Mark Higley
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