Morgan Stanley Professional Center - Press Release July, 2008

Iskandar's newest project unveiled

Commercial Development Continues Despite Housing Slowdown

Lebanon, NH, June 20, 2008 - Amy Iskandar Margolis, Vice President and COO of Lebanon Property Management, Inc (LPM) proudly announces on behalf of Alex Iskandar, their newest development project, currently known as the Morgan Stanley Professional Center located at the intersection of Heater Road and Route 120, Lebanon - just off Exit 18 of Interstate-89. 

The building's passive solar design was created to take full advantage of its natural southern exposure, while reducing the amount of fuel needed to heat and cool the building.  Frank J. Barrett, the architect for the project reveals "Having grown up in a passive solar house constructed in 1951 by my architect-father, I immediately recognized the cost effective solar design potential that this very unique site offered the project, the owner, and ultimately the tenant.  And, it was very gratifying to have an owner/client not only understand this potential, but to be willing to develop and stand behind a high quality building that I am sure some might think a bit out of the ordinary."

In addition, Iskandar is in the process of applying for Leadership in Energy and Environmental Design (LEED) certification and has selected high-efficiency equipment systems to keep operating costs and carbon emissions low.  Currently, there are 6,880 registered new construction LEED projects in the United States, and by 2010 an estimated 10% of commercial construction is expected to be "green", according to McGraw Hill Green Building Smart Market Report 2006.  There are currently 11 LEED certified buildings in New Hampshire, three of which belong to Dartmouth College and only one LEED registered project, the future Kilton Library in West Lebanon.

The entire project has been funded by Ledyard National Bank, and has been estimated to cost $1,500,000.00 excluding the cost of the land.  Iskandar states "I am very pleased to provide additional Class A office space so close to DHMC and at a location with such positive existing infrastructure.  I believe this truly is the highest and best use for this land."

This project has attracted Morgan Stanley to occupy the entire second floor, being approximately 4,000 square feet in the 6,000 square foot building.  Ribbon cutting ceremony is expected to be held this summer.  Lebanon Property Management is currently looking to fill the remaining two (2) 1,000 square foot suites on the first floor.  Please contact Lebanon Property Management for additional information.

ABOUT LEBANON PROPERTY MANAGEMENT, INC

Lebanon Property Management, Inc was incorporated in July, 1995.  Originally created to manage multifamily properties, the company has evolved to manage its commercial real estate holdings and development projects.  Information about Lebanon Property Management, Inc can be found at www.lebanonpropertymanagement.com.