The Abbey Company Acquires 465,000 sq. ft. Cerritos Corporate Center, Cerritos, CA

The Abbey Company Acquires 465,000 sq. ft. Cerritos Corporate Center,
Cerritos, CA

LONG BEACH, Calif., Nov. 17 /PRNewswire/ -- The Abbey Company is pleased to
announce its acquisition of Cerritos Corporate Center, a 465,000 square foot
commerce park consisting of seven (7) multi-tenant office and industrial
buildings located in Cerritos, California, in the heart of the Los Angeles
County industrial market. The property is currently 97% leased to eleven (11)
tenants. This acquisition brings The Abbey Company's owned and managed
portfolio to fifty-five (55) commercial properties throughout California,
containing approximately 6,100,000 square feet.

This noteworthy acquisition is one of the largest industrial real estate
purchases on record in Los Angeles County for 2009. This institutional quality
property significantly enhances The Abbey Company's presence in Southern
California and serves to further demonstrate The Abbey Company's ongoing
commitment to growth of its portfolio and fortifies its ongoing market
penetration strategy.

The Seller was an institutional owner that privately marketed the property to
a select list of prospective buyers. After a brief due diligence period The
Abbey Company completed this purchase on an "all-cash" basis without debt
financing. Completing this transaction within the Seller's limited closing
timeframe is testimony to The Abbey Company's financial ability and
underwriting knowledge resulting from having owned, operated, and leased
commercial projects in the area since 1990.

Kurt Kaufman, Director of Acquisitions at The Abbey Company, handled the
acquisition process for the buyer. Kurt stated 'Our well-seasoned Acquisitions
Team constantly scours the market to locate and acquire "best of class"
opportunities like this particular property investment. Industrial properties
in the mid-county area historically exhibit high occupancy rates due to its
close proximity to the ports, freeway systems and rail arteries. Buying into
Southern California's industrial market, which is the largest and most
attractive in the United States, shows our belief in the long-term performance
of well-located in-fill commercial and industrial real estate.'

In commenting on why The Abbey Company was selected by the institutional
seller, Mr. Kaufman noted that 'Our ability to close quickly without a
financing contingency, and our in-house management and leasing capabilities,
gave us a competitive advantage in today's commercial real estate
environment.' He additionally noted that this acquisition is an example of
the type of product Abbey's acquisition program targets as the firm retains
the ability to acquire substantially more assets on an "all-cash" basis. The
company seeks to acquire well-located office, industrial, and retail
properties throughout California.

For further company information please visit The Abbey Company's web site at
www.theabbeyco.com or, for new acquisition proposals, contact Mr. Kurt Kaufman
directly at kaufman@theabbeyco.com.

SOURCE The Abbey Company

Kurt Kaufman, Director of Acquisitions of The Abbey Company, +1-562-435-2100,
Fax, +1-562-432-0187