Breen + Company OUR CLIENTS

TESTIMONIALS

Jim Breen of Breen + Company has represented Parker-Hannifin Corporation in the acquisition of real estate in the Cleveland market as well as outside of Ohio. In addition, Jim has been a trusted source of real estate knowledge on a variety of complex real estate issues. His broad transaction background coupled with his real life activities in a variety of real estate roles provides a multi-dimensional viewpoint. He has been a strong advocate of our goals and has provided an insightful sophisticated and reliable real estate service. I am pleased to recommend Breen + Company and would be happy to provide any additional information.

Kenneth A. Cannata

Corporate Real Estate Manager

Parker Hannifin Corporation

Breen and Company has represented Landmark Office Towers as its leasing representative for more than 10 years. Over this timeframe, they have helped us fill several large vacancies caused by the departures of LTV Steel (approx. 300,000SF) and BP Oil (approx. 60,000SF). The firm’s market knowledge, hard work and creative approach to marketing space and putting deals together have been important contributors to Landmark Office Towers’ ability to maintain a less than 5% vacancy rate. I am pleased to recommend Breen and Company and would be happy to provide any additional information.

Madeline Muser Hayes

President/General Manager

Landmark Office Towers

I have worked with Jim several times over the past 10 years. I feel that Jim is one of the best young real estate minds in the city. Because he is a building owner and practitioner, he brings a very sophisticated view to role. Although he is a peer of mine, I consider him to be more of a mentor. Furthermore, he is reliable, straightforward and trustworthy.

Peter C. Volas, CCIM

Director of Real Estate

The Cleveland Clinic Foundation

In my opinion Breen and Company is far and away the best brokerage company in Cleveland. Their aggressiveness, creativity, financial analysis, and feel for a deal are just astounding. Simply, they just know how to get a deal done while always keeping the ownerships short term and long interests a priority.

Werner E. Minshall

CEO

Minshall Development Company

CASE STUDY | THE TOWER AT ERIEVIEW

Minshall Stewart Properties a real estate investment firm based in Washington D.C. hired Breen + Company in 2001 to acquire a major office building in the Cleveland CBD. Breen + Company worked diligently for several years to locate an acceptable acquisition for Minshall Stewart Properties. In 2002 Breen + Company was successful in locating a building The Galleria & Tower at Erieview for Minshall Stewart Properties to purchase. The Galleria and Tower at Erieview is a 742,000 sf class A office building attached to a 200,000 sf atrium shopping mall located in the Cleveland CBD. With Breen + Company’s assistance, market knowledge, and leasing forecasts Minshall Stewart submitted an offer to purchase the building. Minshall Stewart was the successful bidder and closed on the Galleria & Tower at Erieview the last day of 2002.

While that would have been the end of a good case story for many brokers it was only the beginning of work for Breen + Company. Breen + Company immediately commenced with their marketing strategy for the Tower at Erieview. The property had been in limbo with the lender for several years prior to the acquisition of Minshall Stewart Properties and had been virtually off the radar screen for tenants looking for space in the CBD. It was nearly a forgotten building and had not completed a major lease for 5 years. The vacancy rate in the Tower was about to become 40% with a two major tenants relocating (this was known prior to the building being acquired by Minshall Stewart Properties). Within 6 months of closing Breen + Company had secured leases for over 55,000 sf of space in the Tower. Breen + Company kept their feverish leasing pace and within 2 years the Tower had a vacancy rate of 10%. In this two year time span 12 deals were completed totaling over 202,000 sf of space leased to new tenants.

The key to the successful leasing of this project was the market knowledge that Breen + Company provided Minshall Stewart Properties prior to acquisition. Breen + Company recommended a price that was acceptable to the seller and a price that would also enable Minshall Stewart Properties to lease the building at achievable rental rates in expedient time frame.

Below is a list of the new deals that were completed:

> Walter & Haverfield - 46,000 sf

> Chernett Wasserman Pasternak & Yarger – 7,000 sf

> Phoenix Home Life Insurance – 3,100 sf

> Emerald Health Network – 29,000 sf

> Lytkowski & Company CPA’s – 7,050 sf

> Weston Hurd – 40,000 sf

> Moskal Kleine – 7,000 sf

> GF Hoch Company – 5,358 sf

> Lesco – 40,000 sf

> Levin & Associates – 3,500 sf

> Tucker Young – 1,700 sf

> Cleveland Film Commission 1,415 sf

> Trivium Technologies – 5,000 sf

> TransDigm – 6,300 sf

Minshall Development Company has offices in Denver, Columbus, Cleveland, and Washington D.C. The company specializes in returning quality underperforming real estate assets into productive properties. The cornerstone of the companies success is its commitment to hiring the most productive real estate brokers in each respective city, and often not buying an asset until the relationship with the local broker is cemented. Breen and Company is our choice of that broker in the Cleveland market. Breen and Company consistently outperforms the competition in Cleveland and has successfully leased our building the "Tower at Ervieview" in record time at agreed upon rental rates.

1360 E. 9TH STREET | CLEVELAND | OH | 44114 P 216 902 8150 | F 216 902 8155

PAST + PRESENT CLIENTS

University Hospitals

Watson Wyatt Worldwide

LeBron James Foundation

Sherwin-Williams Company

Key Corp

Qual Choice

Forest City Enterprises

Westinghouse

Head Start

First Energy

Fifth Third Bank

IMG

The Red Cross

IMG Center

The Keith Building

The Rockefeller Building

The Bulkley Building

The Landmark Office Towers

The Tower at Erieview

The Halle Building

Parker Hannifin

LRMR