Press Release

October 28, 2005
MANSFIELD COMMERCIAL REAL ESTATE NEGOTIATES LEASE OF 90,000 SQ. FT. FOR PEP BOYS AT FRASSETTO SPEC BUILDING IN MIDDLETOWN, NY

Mansfield Commercial Real Estate, based in Goshen, NY, has negotiated a lease of 90,000 square feet for Pep Boys, the nation’s leading automotive aftermarket retail and service chain, at 45 Turner Drive, Middletown, Orange County, New York. The building was recently constructed by The Frassetto Companies, based in Upper Saddle River, New Jersey. Pep Boys will utilize the space for warehousing and distribution, supplementing its 425,000 square foot facility in Chester, NY. In all, Pep Boys has five distribution centers with other locations in San Bernardino, CA; Atlanta, GA; Indianapolis, IN; and Dallas, TX.

The building at 45 Turner Drive is the fifth spec building to be constructed in Orange County by The Frassetto Companies. It totals 166,700 square feet and fronts along NY Route 17/Interstate 86. Constructed as a “flex” building, it was designed to accommodate multiple tenancies, providing office, distribution or manufacturing space. Piller was the first tenant in the building, leasing 47,000 square feet before the building was completed. Approximately 29,000 square feet remains available for lease in the building.

The lease was negotiated by Elisabeth Mansfield, President of Mansfield Commercial Real Estate. Christopher Frassetto represented The Frassetto Companies.

The Frassetto Companies, founded in the 1960’s, owns and operates two million square feet of office and flex space in New Jersey and in Orange and Rockland Counties in New York. The company has approvals in place and plans to commence construction on another 78,000 square foot flex building in Middletown in April 2006.

Pep Boys has 593 stores and over 6,000 service bays in 36 states and Puerto Rico. Along with its vehicle repair and maintenance capabilities, the company also serves the commercial auto parts delivery market and is one of the leading sellers of replacement tires in the United States. Customers can find the nearest location by calling 1-800-PEP-BOYS or by visiting pepboys.com.

Mansfield Commercial Real Estate is a full service commercial brokerage firm specializing in industrial, office, retail, build-to-suit, and land in the lower Hudson Valley, NY. For further information on the company, please visit their web site at www.MansfieldCommercial.com. For further information, please contact Elisabeth Mansfield at 845-294-1000.

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