FOR IMMEDIATE RELEASE
July 8, 2002
HARBOR GROUP SELLS PROPERTY IN NEW YORK
 Harbor
Group International (HGI) of Norfolk, Virginia has sold
its 416,000 square foot industrial complex in Buffalo,
New York. The property, located at 1 Scrivner Drive, was
sold to 1 Scrivner Drive, L.L.C., a private investment
partnership out of Buffalo for $4,500,000.
The property was purchased in 1998 by HGI as part of a
portfolio of retail properties from Woodmen of the World
Insurance Company at a purchase price of $2,340,000.
The motivation for the sale was “an offer we could
not refuse,” according to Jordan E. Slone, Harbor
Group International Chairman and CEO.
The property, situated on 8.65 +/- acres, was built in
1961 and subsequently expanded in 1963 and 1965. It consists
of seven interconnected industrial buildings in the Gardenville
Industrial Park area. It was 100% occupied by Fleming Foods,
who currently subleases the space to several smaller tenants.
Harbor Group International currently owns nearly of $800
million worth of properties in 15 states in the United
States as well as three different countries.
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