Recent transactions total over 268,700 square feet of Class-A space

SHORT HILLS, NJ – JUNE 19, 2007 -- RexCorp Realty LLC (“RexCorp”) has recently signed five lease transactions totaling in excess of 268,700 square feet of Class-A office space throughout the northern New Jersey market. The recent leases were consummated at three of RexCorp’s signature properties, 44 Whippany Road in Morristown, Executive Hill Office Park in West Orange and 3 University Plaza in Hackensack.

In Morristown, 44 Whippany Road is a 220,000-square-foot Class-A office building overlooking a serene pond set amid meticulously landscaped park-like surroundings. Tenants are served with first-class amenities including an on-site café, dramatic three-story atrium lobby, security access and ample parking. This property is easily accessible to Interstate 287, the Morristown Airport, shopping and restaurants.

Executive Hill Office Park is comprised of 400,000 square feet throughout four buildings, and is situated in West Orange overlooking Route 280 with direct access to the New Jersey Turnpike and the Garden State Parkway. With its array of amenities, which include a health club, conference room, full service café and shuttle services facility, this building continues to attract new tenants. The office park is near the Marriott Courtyard and next to the Essex Green Shopping Center.

3 University Plaza is a 219,794-square-foot, six-floor building located in Hackensack, the municipal seat of Bergen County. The building is within 10 minutes from the George Washington Bridge, near Routes 4 and 17, and the Garden State Parkway.

“RexCorp continues to attract and meet the needs of prospective tenants throughout the New Jersey marketplace by offering the finest office environments, locations and responsive service to their needs,” said Todd Rechler, Senior Executive Vice-President and Managing Director New Jersey, RexCorp. “In New Jersey, we are witnessing a flight to quality trends and are well positioned to outperform local market conditions. At RexCorp we are committed to investing in New Jersey and to remaining the ‘landlord of choice’ in the state.”

The recent leases include:
At 44 Whippany Road:
The prestigious law firm of Schwartz, Simon, Edelstein, Celso and Kessler leased
41,384 square feet. The law firm is considered one of New Jersey’s most comprehensive legal practices for education, litigation and corporate legal services. Douglas Gaffney of the Schultz Organization representing the tenant on the lease.

At Executive Hill Office Park:

• Texas Liquids, a major wholesale distributor of propane gas throughout the United States, leased space at 300 Executive Drive. Kyle Raffo of the Garibaldi Group representing the tenant on the lease;
• Esteve, a Spanish-based chemical and pharmaceutical company leased space at 300 Executive Drive. Eugene Baily of Fogarty Baily & Associates representing the tenant on the lease; and;
• Ostergaard Acoustic, a premier acoustical consulting firm, has renewed their space at 200 Executive Drive. Paul Steinbock of Steinbock & Associates handled the lease.

At 3 University Plaza:
TIAA-CREF, one of the largest financial services providers, serving those working in the
academic, medical, cultural and research fields, leased space. William Hassan of CBRE representing the tenant handled the lease.

About RexCorp
RexCorp Realty LLC, (“RexCorp”) is a fully integrated private real estate company with expertise in investment management, development, design, construction, leasing, financing and asset management.
RexCorp’s core growth strategy is focused on the markets surrounding New York City. The Company is one of the largest owners, managers, and developers in the New York Tri-State Area with approximately $3 billion in assets, with over 70 properties comprised of approximately 11 million square feet, and approximately $3.5 billion in development projects. RexCorp, along with predecessor entities, has owned, managed and developed approximately $7 billion in assets encompassing over 20 million square feet.

RexCorp’s New Jersey portfolio features trophy assets strategically located in NJ's prime corporate locations including the premier Short Hills properties: 51 JFK Parkway, 101 JFK Parkway, and 103 JFK Parkway; One, Three and Seven Giralda Farms, three exceptional Class A properties located in the Giralda Farms campus in Madison along the Route 24 corridor; Giralda Farms Office Park, a two-building, 451,431-square-foot ground-up development also located within the Giralda Farms campus; and the recently completed world-class University Square, a 313,000-square-foot building located in the thriving Princeton marketplace.