The Acquisition of a 176,000 Square Foot Class A Office Building in Phoenix, AZ is Announced by Rosemont Realty

Rosemont Realty Enters the Phoenix Office Market

Phoenix, AZ – November 16, 2010: Rosemont Realty has acquired Catalina Terraces, a multi-tenant office building located west of Highway 51 in Paradise Valley, north of downtown Phoenix.
Phoenix is the fastest growing city in the US and home to five Fortune 500 companies: Avnet (NYSE: AVT), Freeport-McMoran Copper & Gold (NYSE: FCX), U.S. Airways Group (NYSE: LCC), Pet Smart (NASDAQ: PETM) and Insight Enterprises (NASDAQ: NSIT).

Paradise Valley is minutes from the Sky Harbor International Airport and offers numerous retail, hotel and dining options. Major tenants in Catalina Terraces include Kimley Horn & Associates, a leading US engineering and land planning firm, and Phoenix Health Plan, a health maintenance organization.

“Phoenix is a market that we see as having strong fundamentals in the coming year”, commented Daniel Burrell, Rosemont’s Chief Executive Officer. “Catalina Terraces is a high quality asset that is well positioned in one of most of the dynamic submarkets of the City.”

The property features Spanish style design consisting of a series of tile roofs, a striking rotunda entry and two interior courtyards that allow light to the property’s interior at all floors. Amenities include a 199-space parking garage and surface level parking, including carports, for 516 vehicles.

About Rosemont Realty
Headquartered in Santa Fe, New Mexico, Rosemont Realty is a market leader in commercial property acquisition and asset management. The Company has regional offices in Houston, Dallas, San Antonio, Atlanta, Denver, and Albuquerque. Founded in 1991, Rosemont Realty and its predecessor Company have acquired over 30 million square feet of office property in 28 states. For more information about Rosemont Realty please visit www.rosemontrealty.com.

For further information on this property, please call Tim Farrell at 505-992-5134.