Ivy Realty

MONTVALE, NJ, NOVEMBER 1, 2004—Ivy Realty, one of New Jersey’s leading owners and developers, announced the sale of 300 Harmon Meadow Boulevard in Secaucus, New Jersey. The 123,000-square-foot, 6-story office building sold for $25.5 million to Heritage Management Company. The Cushman & Wakefield Metro sales team of Andrew Merin, Gary Gabriel and David Bernhaut represented Ivy in the sale.

Anthony DiTommaso, Jr., CEO of Ivy Realty commented, “We’re pleased to announce the sale of 300 Harmon Meadow Boulevard. This transaction culminates our successful turnaround strategy for this asset. It also reflects Ivy’s value creation capability in which we integrated our leasing and marketing strengths to achieve significant occupancy growth in a relatively short time period for this asset.”

Ivy Realty purchased 300 Harmon Meadow Boulevard in March 2002. Under Ivy’s ownership, the lead tenant, Bank of America, renewed and expanded its lease for a total of 57,300 square feet—which it used as disaster recovery space. The facility is currently 94 percent leased. 300 Harmon Meadow Boulevard is only minutes from Manhattan and offers immediate access to Routes 3, 80 and the Garden State Parkway. On-site amenities include hotels, restaurants, banking, theater and health clubs.

About Ivy Realty
Founded in 1996, Ivy Realty, a wholly owned subsidiary of Ivy Equities, is a leading real estate investor and developer throughout New Jersey, New York and Connecticut. Ivy targets investment opportunities in undervalued, high grade, income producing commercial properties. The Company has built a reputation for successfully completing a wide spectrum of creative developments in the office, mixed-use, retail, build-to-suit and residential sectors. Currently, Ivy Realty owns, manages and leases a 3.5 million-square-foot portfolio with added development potential throughout the tri-state area.

For more information contact Ivy Realty at their Montvale, New Jersey headquarters at (201) 573-8400 or visit the website at www.ivy-realty.com.



			IVY REALTY SELLS 300 HARMON MEADOW BOULEVARD IN THE MEADOWLANDS MONTVALE, NJ, NOVEMBER 1, 2004—Ivy Realty, one of New Jersey’s leading owners and developers, announced the sale of 300 Harmon Meadow Boulevard in Secaucus, New Jersey. The 123,000-square-foot, 6-story office building sold for $25.5 million to Heritage Management Company. The Cushman & Wakefield Metro sales team of Andrew Merin, Gary Gabriel and David Bernhaut represented Ivy in the sale. Anthony DiTommaso, Jr., CEO of Ivy Realty commented, “We’re pleased to announce the sale of 300 Harmon Meadow Boulevard. This transaction culminates our successful turnaround strategy for this asset. It also reflects Ivy’s value creation capability in which we integrated our leasing and marketing strengths to achieve significant occupancy growth in a relatively short time period for this asset.” Ivy Realty purchased 300 Harmon Meadow Boulevard in March 2002. Under Ivy’s ownership, the lead tenant, Bank of America, renewed and expanded its lease for a total of 57,300 square feet—which it used as disaster recovery space. The facility is currently 94 percent leased. 300 Harmon Meadow Boulevard is only minutes from Manhattan and offers immediate access to Routes 3, 80 and the Garden State Parkway. On-site amenities include hotels, restaurants, banking, theater and health clubs. About Ivy Realty Founded in 1996, Ivy Realty, a wholly owned subsidiary of Ivy Equities, is a leading real estate investor and developer throughout New Jersey, New York and Connecticut. Ivy targets investment opportunities in undervalued, high grade, income producing commercial properties. The Company has built a reputation for successfully completing a wide spectrum of creative developments in the office, mixed-use, retail, build-to-suit and residential sectors. Currently, Ivy Realty owns, manages and leases a 3.5 million-square-foot portfolio with added development potential throughout the tri-state area. For more information contact Ivy Realty at their Montvale, New Jersey headquarters at (201) 573-8400 or visit the website at www.ivy-realty.com.
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