Schmier & Feurring Properties, Inc. prides itself on the quality and success of its developments. The principals are involved in every facet of the development process, from approvals and construction through leasing and rent commencement. In South Florida, we have developed and leased in-house approximately two million square feet of commercial real estate since 1981. We have developed and re-developed eight projects along the Glades Road corridor in Boca Raton, more than any other single owner. In addition to Florida, we have developed approximately 1,000,000 square feet throughout suburban Detroit.

Schmier & Feurring Properties has become well recognized for its outstanding and unique architectural designs and well-conceived landscape plans. Schmier & Feurring Properties was selected as the joint venture partner and developer of the non-mall commercial projects surrounding the Wellington Green Mall, which was developed by Taubman Centers, Inc. and Brefrank, Inc. We recently completed our fourth and final project as part of this venture. In total, we developed four parcels comprising approximately 60 acres of land and approximately 375,000 square feet of retail space, a 125 room hotel and 25,000 square foot of office space.

The key to success for any new development is leasing. All of our development projects are leased and managed in-house. During our long history of owning and operating commercial property, we have established and maintained long-standing relationships with local, regional and national tenants as well as their broker representatives. We are long term owners who fully understand how to negotiate and trade off between economics and the risk inherent in co-tenancy, termination rights, limited credit/guarantees, etc. We also fully understand how this analysis changes from small shop to anchor space. All our recent development projects have been almost fully leased prior to opening

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Schmier & Feurring Realty, Inc. approaches each project with a developer�s mentality, focusing on value enhancement, tenant mix and careful credit analysis. We limit our activities to the leasing of investment grade shopping centers, office buildings and light industrial complexes, and select tenant representation assignments. We are not a company that will boast about how much product we lease and manage; rather we are sensitive to only being associated with high quality projects. We will however, highlight, at any opportunity, our above market occupancy rates during any economic period.

Our successful management style is derived from and driven by our understanding of value enhancement. Our management teams possess foresight and a sharp eye for detail. No property concern is overlooked. Our preventive maintenance program helps identify a property's needs long before problems arise. In addition to programs and systems designed for professional management, our staff is trained to give attention to the daily needs of each individual tenant. Schmier & Feurring believes in a hands-on approach and a significant physical presence at the properties we manage and lease.

Each project requires a substantial commitment of our capital, time and energy. Before we undertake leasing or management of a project, we make certain the full depth of our resources are available. Once we make a commitment, we will not stop short of exceeding expectations.