“We are very pleased to have Flagler Development as our commercial partner,” said Richard T. Ray, a partner with the PARC Group. “We consider Flagler’s office park to be key to our overall plan to meet the business needs of this growing area.”

“Flagler’s investment in Nocatee reflects our confidence that Nocatee will soon be a thriving community with a strong core of businesses and amenities,” said Karl Hanson, Flagler’s Vice President and Market Officer for North Florida.  “The PARC Group has demonstrated a commitment to environmentally responsible development in Nocatee.  In keeping with that spirit, Flagler will employ sustainable building practices and endeavor to seek L.E.E.D. certification of all of our buildings in this project.”

The 54-acre office park is planned to include multiple buildings totaling 675,000 square feet.  Flagler expects to deliver its first speculative office building in late 2009 or early 2010.

Flagler Development Group owns, develops, leases and holds in joint ventures approximately 9.2 million square feet of Class-A office and industrial space, as well as an additional 1.2 million square feet under construction. Flagler space consists of Class-A office and industrial properties, primarily in Jacksonville, Orlando, Ft. Lauderdale and Miami. In addition, Flagler owns 921 acres of entitled land in Florida, directly and through joint ventures, which is available for development of up to an additional 16.5 million square feet. Flagler also owns approximately 3,141 acres of other Florida properties. Flagler creates environments for businesses to thrive.  For more information, visit the Company's website at http://www.flaglerdev.com or call Ross Carrier at (904)998-4533.

The Town of Nocatee is a master-planned community of over 14,000 acres that spans the northeast portion of St. JohnsCounty and the southeastern corner of DuvalCounty. The Nocatee plan is a balanced approach to development that will provide a wide variety of residential lifestyles, employment opportunities, shopping, schools, civic uses and recreation.

Nocatee. Grand. Coastal. Incredibly Right