For Immediate Release - Grand Rapids, Michigan, September 5, 2006

44th Street sale lease-back of two office buildings

Prime Development Company announces the simultaneous sale of two buildings located in Wyoming, Michigan at 2780 and 2790 44th St. SW, previously known as the IKON buildings. Both properties are located across from Ramblewood Apartments and just east of the Rivertown Crossings Mall. The building addressed as 2780 44th St. SW is comprised of 11,142 square feet and will be remodeled for new tenants. 2790 44th St. SW is 12,495 square feet and has been leased back to IKON Solutions, a national office equipment supplier.

The buyers, a local investment group, worked with Mark Baker, CCIM of Prime Development Company and the sellers, the Corcoran Group of Massachusetts, were represented by Olga Halstedt of CB Richard Ellis.

For more information, call Mark Baker, CCIM at (616) 957-4733 ext. 302.

Prime Development Company, founded in 1987, serves the needs of commercial property owners with buying, selling, leasing, developing, & investing in real estate transactions. Offices are located at 825 Parchment Drive SE, Suite #400, Grand Rapids, Michigan 49546.

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