October 2008 - Onyx Equities, LLC announces the sale of a 78,000-square-foot grocery anchored retail center and a 10,000-square-foot pad site that is presently under development, which is located at 647 Route 18 South in East Brunswick, New Jersey.

"The sale of Summerhill Marketplace is another example of the successful execution of Onyx Equities' overall business strategy," said Michael K. Nevins, vice president of asset management, Onyx Equities. "We were able to successfully create value through additional development and the ultimate disposition of this property to a 1031 buyer within a short period of time, delivering an excellent return to our investors."

Summerhill Marketplace consists of 78,608 square feet of prime retail space anchored by an A&P along with a variety of dining and retail stores. Presently under construction is a 10,000-square-foot single-story building that is slated to be the home of a Children of America childcare center this month. In the heart of the East Brunswick/Route 18 corridor, the shopping center is located just south of the intersection of Summerhill Road and Arthur Street directly off Route 18.

Nevins added, "We purchased this asset with two unapproved parcels. During the three years of ownership, we were able to execute a lease with Children of America and gain approvals to develop their building and obtain approvals to dev lop another 13,000-square-foot retail building, which was subsequently sold unimproved to a user in 2007."

About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC was formed in 2004 and currently owns a portfolio of 3,318,000 square feet of office, retail, and industrial properties located in New Jersey, New York, Connecticut, Pennsylvania and Florida. Since its inception, Onyx has acquired over $680 million in assets throughout the region. For more information on Onyx Equities, LLC, contact the firm at (732) 362-8800, or visit www.onyxequities.com.