TBI ACQUIRES THREE CAMPBELL BUILDINGS

Toeniskoetter & Breeding, Inc. Development has acquired three adjacent office buildings located between Winchester Boulevard and Camden Avenue in Campbell. The three one-story buildings at 743, 745 and 747 Camden Ave. total 61,056 square feet and were acquired from a partnership owned by the family of the late Howard J. White III, Vice President Dan Amend of TBI Development announced.

DAN AMEND NAMED DIRECTOR OF CHILDREN’S DISCOVERY MUSEUM

Daniel T. Amend, Vice President of Toeniskoetter & Breeding, Inc. Development (TBI Development), has been appointed to the Board of Directors of the Children’s Discovery Museum. Mr. Amend also has joined the museum’s Committee on Exhibits & Programs, which is developing the “Art Loft,” a new art studio for children 4 to 10 years old for which TBI is making a significant contribution.

TBI DEVELOPMENT SELLS EX-LIFEGUARD BUILDING

After acquiring the former Lifeguard Insurance building in a transaction that took only three weeks, Toeniskoetter & Breeding, Inc. Development (TBI Development) has sold the building for a corporate headquarters in less than three months.

The two-story building at 1851 McCarthy Blvd. was sold to the principals of Renaissance Home & Mortgage, Inc., which is now located at 218 Great Mall Drive in Milpitas. Renaissance plans to move its 20 headquarters staff and a portion of its approximately 200 agents to the building.

“When we acquired the building earlier this year, it fit our investment criteria of a good quality building in an excellent location with significant upside potential,” Vice President Dan Amend of TBI Development said.” We planned to improve and reposition the property for lease to multiple tenants or a single user. When the principals of Renaissance evaluated the building, they came to the same conclusion that we had.”

Brokers Steve Pace and Scott Macdonald of CPS Commercial Property Services brokered the transaction for TBI Development, as they had brokered the company's acquisition in February 2005.

The 48,000-square-foot building was vacated by HMO Lifeguard, Inc. and affiliated Lifeguard Life Insurance Co. PPO after it filed for bankruptcy in late 2002. The owner, CBC McCarthy LLC, an affiliate of California Bavarian Corp. of Palo Alto, had accepted an offer to sell late last year. When that transaction fell through in December, the brokers turned to TBI Development. From start to finish, the second transaction closed in 25 days.

Renaissance Home & Mortgage, Inc. is a full-service residential and commercial brokerage and mortgage firm. The company uses the Internet and other technology-driven processes to further business automation and meet the needs of real estate and loan agents. Renaissance currently conducts business in Northern and Southern California, Arizona, Nevada, Texas and Washington, with plans to expand nationwide.