West Palm Beach, FL – (November 1, 2007) — CityPlace Tower, the $110 million, 18-story office building nearing completion on Okeechobee Blvd. in West Palm Beach, recently signed the world-renowned Cleveland Clinic in Florida for an agreement to lease 26,648 sq. ft. of space on the 14th floor and an additional 2,298 sq. ft. on the ground level. Expected to open in January 2008, the 300,000-sq.-ft. tower is the first Class-A office building to be built in the city since 1989. It is a joint venture between The Related Companies, L.P. of New York and Crocker Partners LLC of Boca Raton.

Richard Linevsky, Grubb & Ellis senior vice president, represented Cleveland Clinic in Florida on the lease negotiations, and CityPlace Tower was represented by Jon Blunk, senior vice president of Crocker Partners.

At the CityPlace location, Cleveland Clinic in Florida will offer access to specialists in a variety of areas, including Internal Medicine, Neurology, Orthopaedic, Spine, Pulmonary, Colorectal and Heart, with additional specialties as needed. The new facility will also include an imaging center complete with MRI and CT scan services. The Cleveland Clinic Florida Health and Wellness Center anticipates moving from its current temporary location on Flagler Drive to CityPlace in third quarter 2008, and will continue to operate from its main location in Weston, Fla.

“This move will enable us to expand the medical services that we can offer to the residents of Palm Beach County,” said Bernie Fernandez, M.D., CEO of Cleveland Clinic in Florida. “We are extremely pleased about the relocation of our Cleveland Clinic Florida Health and Wellness Center to CityPlace Tower.”

The building’s location is viewed as one of the best sites in Palm Beach County, anchoring the “gateway” to Palm Beach on Okeechobee Blvd., less than 10 minutes from Palm Beach International Airport, a quarter of a mile from I-95 and directly across the street from the Palm Beach County Convention Center.

“Patients travel from all over the world to receive innovative healthcare at Cleveland Clinic in Florida. The new location will allow us to bring our unique model of medicine closer to the residents of Palm Beach and the northern counties,” said Dr. Fernandez.

The hurricane-resistant construction and advanced technology of CityPlace Tower will allow tenants to operate with minimal interruption when the area is hit by a major storm. The systems include redundant power source capability through two 2,500 kV emergency generators, multiple high-speed connections to the Internet “backbone,” and multiple telecommunications providers for uninterrupted power, which protects access to electronic data in all offices.

“The Cleveland Clinic is an exciting new dimension to the tenant mix in the building,” said Jon Blunk, senior vice president and head of leasing for Crocker Partners. “This location will focus on health and wellness, while their Westin location will focus on more significant patient care. The first-class brand of CityPlace Tower reflects the first-class approach that the Cleveland Clinic is known for around the country.”

Designed by Elkus/Manfredi Architects of Boston, the same firm that designed CityPlace, the tower’s iconic architecture will add a striking new dimension to the Downtown skyline and create a new landmark that will re-shape the City’s status within Florida’s business community. For tenants, there are unparalleled executive amenities, luxurious finishes and appointments, and expansive views of the ocean, Intracoastal Waterway and the rest of the city. Four floors of parking and gated, direct-to-suite access parking for senior executives via private elevator make the building user-friendly and efficient. The ground floor will offer an interesting mix of retail options, a Regions bank with drive-through teller, valet and concierge services, and sophisticated security systems.

More than 60 percent leased, CityPlace Tower’s major tenants included INTECH, an institutional money management firm; Carlton Fields, P.A., a full-service law firm; Shutts & Bowen, a Florida-based law firm; JBHanauer & Co., a leading investment specialist for wealth management; Regions Financial Corporation, a full-service provider of consumer and commercial banking; and Goodrich, LLC, a Massachusetts-based management company.