Cape Canaveral, Florida (PRWEB) November 5, 2005
Frank Crivello, Managing Member, Eastern Coast Management, LLC ("Eastern Coast Mgt") and NNN Group, Inc., ("NNN"), announced that RE Palm Beach Partners, LLC, ("REPB") its affiliate, exercised its option to purchase approximately 3.5 acres of land on US 1 and 13th Street, Riviera Beach, Florida. In 2003 REPB leased the referenced tract of land with an option to purchase it (http://www.ecmgt.net/press/100103.html). This land tract is located at the heart of the massive redevelopment project for the City of Riviera Beach, Florida. Riviera Beach has now hired a master developer. Developer interest in the area is high.
Eastern Coast Mgt Executive Vice President Frank Orlando stated: “We were excited to acquire land near the Port of Palm Beach and near the Riviera Beach Marina. We are developing our plans for use of this land.”
In September, 2005, Frank Crivello announced that Eastern Coast Mgt sold several smaller multifamily parcels located nearby this property in Riviera Beach (http://www.nnn.net/news/091505.html and http://www.nnn.net/news/060905.html).
Eastern Coast Mgt Managing Member Frank Crivello stated: "We acquired this land near the center of the massive redevelopment project for the City of Riviera Beach, Florida. As Riviera Beach has now hired a master developer, investor interest in the area is high and we expect developments to get underway. We will consider all strategic development options for this land tract."
Eastern Coast Mgt Executive Vice President Frank Orlando stated: "We had owned smaller parcels nearby this site. This land tract is large enough to support a large development. We are exploring options for this land tract."
About NNN Group, Inc, http://www.nnn.net: NNN provides Eastern Coast Mgt with real estate management and advisory services.
About Eastern Coast Management, LLC, http://www.ecmgt.net:
Eastern Coast Mgt is focused on real estate and marine investments in the southeastern United States. For approximately twenty five years, as principals, Eastern Coast Mgt's team has been involved in all facets of real estate development, rehabilitation, and investments. In addition, Eastern Coast Mgt's team has offered professional management and advisory solutions to public and private companies, trusts, and individual investors. For approximately six years, as advisers or principals, Eastern Coast Mgt's 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 Eastern Coast Mgt 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 marine market and that there will be no unanticipated material adverse change in Eastern Coast Mgt's operations or business.
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