RELEASE #6913

Rockefeller Group Development Corporation Acquires 23-Acre Torrance Site

Medical, Professional Office, Retail Buildings Planned

IRVINE, CA, August 21, 2006 – Rockefeller Group Development Corporation (RGDC), with headquarters in New York City and a regional office in Irvine, CA, has acquired a strategically-located 23-acre vacant site in Torrance, CA.  The company plans to build a multi-use medical and professional office project with a retail component.  David Prior, SIOR, president in the Klabin firm’s Torrance office and Todd Taugner, SIOR, a Klabin partner also in the Torrance office, represented the buyers.  The seller was Grae Lomita, LLC.

“We’re very excited about the future of the Torrance site and about providing needed office and retail space to the Palos Verdes Peninsula,” said Tom McCormick, SIOR, Senior Vice President Development for Rockefeller Group Development Corporation.  “This acquisition fits perfectly into The Rockefeller Group’s commitment to the California real estate market.”

The 23-acre vacant property in Torrance is located on the south side of Lomita Blvd. between Hawthorne and Crenshaw Boulevards.  The site is in close proximity to Torrance Memorial Hospital.

Prior said the new development, to be valued in excess of $100 million upon completion, will feature medical and professional office buildings and office condominiums for sale, plus retail space.  The Klabin Company has been selected as marketing agents for the new project, which is scheduled to break ground during 2007.

“This site enjoys a wonderful location near a major medical center, and will fill a pent-up demand by tenants desiring to own new, modern medical and professional buildings,” said Prior.

RGDC is a national owner, developer, and manager of prestigious commercial real estate properties.  Its development capabilities include corporate headquarters, landmark properties, multi-use urban complexes, multinational distribution facilities, suburban business parks, and foreign trade zones.  RGDC is an operating company of The Rockefeller Group, developer of the famed Rockefeller Center in New York City.

Now in its sixth decade, The Klabin Company is ranked among the top 20 commercial real estate companies based in Los Angeles.  The firm has offices in Los Angeles and Torrance, and is affiliated with CORFAC International.

CORFAC International is one of the largest commercial real estate services organizations in the world.  CORFAC is comprised of privately-held entrepreneurial firms serving 140 markets in The Americas and internationally through its KingSturge CORFAC International alliance.  Last year, CORFAC partner firms completed more than 13,400 commercial real estate transactions worldwide, encompassing over 400 million square feet and valued at $8.7 billion.

For more information, contact Sandra Manley or Brian Mahoney at (212) 282-2000.