06.07.06
NO ROOM AT THE TOP: AMC DELANCEY’S CEDAR RUN CORPORATE CENTER IN KING OF PRUSSIA, PA NOW 100% LEASED WITH 10 TENANTS

Contact Millicent Zonfrillo,
Beckerman Public Relations
(908) 781-6420
millicent@beckermanpr.com

KING OF PRUSSIA, PA (JUNE 7, 2006) — AMC Delancey Group, Inc., a Philadelphia-based national real estate investment company, announced that its Class “A” office building, Cedar Run Corporate Center, located at 901 East 8th Avenue in King of Prussia, Pennsylvania, is now fully leased with the arrival of ophthalmologist Dr. Jeffrey I. Katzman, who is leasing the remaining 6,177 square feet of the 60,000-square-foot building.

“The success of filling the Cedar Run Corporate Center reflects our outstanding multi-faceted repositioning program, which increased the asset’s underlying value and appeal, resulting in a jump from 19 to 100 percent occupancy,” said Andrew J. Kleeman, AMC Delancey vice president of asset management.

Paul Wolfson, vice president of NAI Geis Realty Group, Inc., who served as AMC Delancey’s leasing broker, added, “Fully leasing this building took place during one of the weakest King of Prussia leasing markets in decades, one that peaked at 25.3 percent vacancy in 2003 and remains at around 14 percent today. Cedar Run Corporate Center was a very unique opportunity for tenants to get a Class ‘A,’ fully renovated office building with superior finishes and ideal setting in the heart of King of Prussia. That is a major reason why it leased so well in these market conditions.”

AMC Delancey acquired the owner-occupied building in 2002 and subsequently spent in excess of $2 million in renovations and additions, including a new state-of-the-art HVAC system, a second elevator directly in the main lobby, and bucolic landscaping to the entire property. The end result is a Class ‘A’ office building for multi-tenant occupancy designed to tenant’s specific needs and desires. The building’s unique attributes, including contemporary architecture with a glass and California cedar exterior and park-like setting, make Cedar Run Corporate Center an excellent alternative to the typical suburban office building.

“Cedar Run Corporate Center was the perfect choice for our company, as it’s like an oasis in the middle of King of Prussia,” said tenant Karen Wilhelm of PMI Mortgage Insurance Company. “Unlike so many other buildings, this one provides an ambiance of corporate tranquility due to its cedar exterior and immaculately landscaping, while still being conveniently located near all local amenities.”

Dr. Katzman added, “The serene setting of Cedar Run Corporate Center is great for my business. People don’t particularly enjoy visiting doctors, but instead of patients arriving to a cold, common office building that may add to their potential stress, they arrive here to a tranquil site of colorful landscaping, an abundance of green trees and a home-like building. They are already at ease before walking in my door.”

About NAI Geis Realty Group, Inc.
NAI Geis Realty Group, Inc. is a full-service commercial real estate brokerage and management firm comprised of the top commercial office and industrial brokers in the Philadelphia marketplace. The company offers clients professional real estate services including tenant representation, landlord representation, asset management, asset disposition, property management, financial analysis, and corporate real estate services. For more information, visit www.geisrealty.com.

About AMC Delancey Group, Inc.
Founded by Kenneth P. Balin in 1992, AMC Delancey Group, Inc. is a leading real estate investment and development firm that aligns interests and co-invests with a growing number of real estate operating partners throughout the United States. Headquartered in Philadelphia, Pennsylvania, the Company's programmatic approach focuses first on the quality of potential operating partners, next on their investment strategies, and then on the specific properties proposed for acquisition. The Company's current investment programs include hotel, office, retail, multi-family, condominium, mixed use, and land development. AMC Delancey plans to expand these and future investment programs throughout the United States, with both existing and new operating partners, with investments targeted over the next several years in excess of one billion dollars. For more information on AMC Delancey Group, visit www.amcdelancey.com.

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