ENVIRONMENTALLY-FRIENDLY 321 NORTH BEGINS WITH RENOVATION OF EXISTING OFFICE TOWER

PLANTATION, FL (July 17, 2008) US Capital Holdings, LLC has announced that a $20 million environmentally-friendly renovation of its existing seven-story office tower is now underway. It marks the kick-off of the first phase of the redevelopment of the former Plantation Fashion Mall into a $1 billion mixed-use lifestyle center known as 321 North. The renovation will include a complete revamp of the lobbies, tenant floor corridors and restrooms as well as mechanical and other systems upgrades.  Completion of the office building renovation is slated for the end of the year.

The office building renovation is being overseen by Eric Wilson, US Capitals director of construction. US Capitals plans for the renovated 138,000 square foot building include obtaining certification under the US Green Building Councils LEED Core and Shell green building rating system at the level of Silver. 

According to Paul DArelli, project development counsel with Greenberg Traurig and the first attorney in Florida to be accredited by the US Green Building Council as a LEED Accredited Professional, Securing LEED certification for the office building will advance US Capitals goal of obtaining certification of the entire 321 North project under the new LEED for Neighborhood Development (LEED-ND) pilot program. US Capital is delighted to demonstrate its commitment to sustainability by assisting the USGBC as a pilot project participant as they roll out this new rating system which looks beyond a single building to evaluate larger developments in their entirety.

In furtherance of its sustainable development objectives for the renovated office building, US Capital will pursue a number of strategies, including the selection of materials and finishes with low volatile organic compound (VOC) content; materials and products with recycled content and regional sourcing; as well as products and systems that can enhance energy and water efficiency. 

When complete, features will include a grand entrance with lush landscaping; a richly appointed lobby with controlled secured access and 24-hour manned security and concierge; covered integrated parking garage; and access to business and meeting facilities at the onsite Sheraton Suites Hotel. 

The office buildings location in the 321 North project will offer convenient walkable access to adjacent dining, shopping and entertainment and cultural venues that will comprise the approximately 600,000 square-foot retail component, and the approximately 600 residential units planned for 321 North.

The existing development on the property includes a vacant 650,000 square-foot enclosed retail mall, the vacant 138,000 square-foot office pavilion, and a separately owned Sheraton Suites Hotel, whose own recent $15 million renovation is now complete. The development of 321 North will include demolition and reconstruction of significant portions of the enclosed mall with new retail that will face outward and open up onto a new main street; as well as the construction of additional new open-air retail and restaurants and the construction of two new Class A twin tower office buildings proposed for 16 stories each and totaling 474,000 square feet.  The project is designed to fit seamlessly into the City of Plantations master plan to build an urban town center, called Plantation Midtown.

Leading the architectural design and development of the project is ADD Inc, a national award-winning design firm. Other team members include ID & Design International, an award-winning, full service design consultant firm; EDAW, consistently ranked among the worlds leading landscape design firms; Kimley-Horn and Associates, Inc., one of the nations most comprehensive and best respected engineering and land planning firms; and The McGarey Group, a nationally-recognized leader in planning, development and leasing of preeminent urban retail projects throughout the US and Jones Lang LaSalle, which is handling the leasing of the office component.

Pre-leasing efforts are underway. For more information, visit www.321north.com or call (877) 321-8866. For office leasing information, call  (954) 703-3313, (305) 728-7395 or visit www.us.joneslanglasalle.com. For retail leasing information, call (619) 435-6410 or visit www.themcgareygroup.com.     

About US Capital Holdings

Founded in 2004, US Capital Holdings is a leading private equity investor based in Plantation, Florida. The firm specializes in identifying and repositioning underperforming properties in advantageous locations and provides capital and real estate management services to institutions and personal investors overseas with a concentration in China. US Capital is actively redeveloping the Plantation Fashion Mall into a mixed use shopping and lifestyle destination.

About LEED for ND

LEED for Neighborhood Development was created in collaboration by the U.S. Green Building Council, the Congress for the New Urbanism and Natural Resources Defense Council to provide a green building rating system that looks beyond a single building to evaluate larger developments in their entirety.  The rating system recognizes projects that incorporate smart growth, new urbanism, and green design principles.