DEVRY UNIVERSITY LEASES 47,500-SQUARE-FOOT BUILT-TO-SUIT PROPERTY

LONG BEACH, CALIF. — DeVry University has signed an 11-year lease for a 47,500-square-foot built-to-suit office building at Douglas Park, a master-planned 261-acre mixed-use project in Long Beach. DeVry is the first tenant announced within the 54.5-acre portion of the park being developed by San Francisco-based Newcastle Partners and RREEF Alternative Investments. Construction on the building, which is located at Conant Avenue and Lakewood Boulevard, is expected to commence in May, with completion slated for March 2010. Design to obtain LEED Silver certification, the building will offer 360 parking spaces, outside gathering areas, building connectivity and infrastructure for solar power.