CHICAGO, Illinois – (BUSINESS WIRE) — November 15, 2004 – Commonwealth Realty Advisors announced its investment in Phase II of the University Park Cold Storage Facility in University Park, Illinois today. The project is a 225,000 square foot addition to the completed Phase I development that opened for business in August. The investment was made on behalf of a Commonwealth commingled fund.

University Park Cold Storage Phase II adds 225,000 square feet of additional cold storage space to the completed Phase I project. Phase I is a $21 million, 275,000 square foot development in the southern suburbs of Chicago that completed construction in June 2004. Construction of the Phase II project is currently underway. When completed, the total facility will offer 500,000 square feet of cold storage space with a total project cost in excess of $40 million. Construction of both Phase I and Phase II are a product of 100% union labor.

Commonwealth Realty Advisors, Inc. is a provider of real estate investment advisory services to tax-exempt, institutional investors. With $1.6 billion in assets under management, Commonwealth has provided fiduciary investment management services for the pension fund community for over 13 years. The firm’s nationwide portfolios include retail, office, industrial, and multi-family with services including acquisition, disposition, due diligence development and redevelopment oversight, asset repositioning, and asset management.