Estera Development Completes First Project for Innovative Build-To-Suit Program

Tuesday, August 26, 2008

SCOTTSDALE, Ariz. (August 01, 2008) –

Estera Development Completes First Project for Innovative Build-To-Suit Program

Phoenix (August 01,2008-

Esterra Development, a fast-growing land acquisition and real estate development company, today announced the completion of the company's first project under its recently unveiled build-to-suit platform. The company finalized the development of an International House of Pancakes (IHOP) restaurant in Albuquerque, N.M. for a multi-unit IHOP franchisee.

"We are pleased with the success of this first build-to-suit venture, completed on-time and on-budget, and are looking forward to continuing to expand within this sector," said Gary Arnold, founder and cheif executive officer of Esterra Development. "This unique and innovative platform provides the ability for the company to develop new partnerships and secure opportunities for growth outside of the traditional commercial and residential markets."

Through the build-to-suit program, Esterra Development offers a complete turn-key service for national retailers. The company arranges and establishes all fiancing, constructs the facilities, holds and acts as landlord of the completed projects, ultimately selling the operating retail store to a third-party investor.

Build-to-suits is the latest chaptr in Esterra Developoment's diversified portfolio. With projects currently underway in the commercial and residential real estate divisions, the new platform allows the company to showcase its development services in an emerging sector. The company's willingess to explore new opportunities, combined with a strong strategic outlook, has helped to solidify its position as a resilient industry leader. Further, by focusing on a business approach centered on flexibility and versatility, Esterra Development has been able to continue to forge ahead and find success, despite existing market challenges.

"We always look to stay in-tune with the latest industry trends, and build-to-suit provided an excellent opportunity to explore an innobative sector of the ever-evolving market," said Mike Rose, vice president of operations for Esterra Development. "Through our cultivated partnerships with both established and up-and-coming franchisees, we are able to work diligently to provide a turn-key solution for those looking to expand into a new or existing market."

The IHOP restaurant, scheduled to open August 4, is located near the entrance of the Albuquerque International Sunport Airport. With the addition of new hotel, retail and office space, the growing area is quickly becoming a hub of activity. The IHOP franchisee taking over the recently completed site currently operates six existing IHOPs, and has an exclusive multi-site developmental agreement for the stae of New Mexico.

About Esterra Development:

Esterra Development, LLC was founded by Phoenix entrepreneur Gary Arnold in 2005 in association with a group of private investors who have extensive experience in a variety of successful businesses. The company was officially launch with the acquisition of the 10-acre land parcel in Surprise that will be the site of the company's flagship mixed-use property, Bell Mar. Teh company located and acquires land parcels, determines the best use for their development and delivers and manages high-quality commercial and residentail projects. The company focuses its development on locating and planning highly visible, prominent in-fill areas throughout the Valley. These developments create significate returns for investors, while the company diversifies its portfolio of properties and prepares for long-term real estate growth. Esterra Development's properties reflect an aesthetically pleasing appearance that fits in with the surrounding community's characteristics while providing appealing shopping, dining, and residentail options for consumers. For more information, visit: www.esterradevelopment.com.

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