125 East Sir Francis Drake Boulevard, Third Floor
Larkspur CA 94939
(415) 464-2000
Fax: (415) 464-1950
Web: www.venturecorporation.com

BIOGRAPHICAL REVIEW

Venture Corporation is a real estate development and building company based in Larkspur (Marin County), California. Since its formation in 1976, the Company has developed many commercial, R&D, residential and mixed-use projects and is currently developing more than thirty projects throughout California and in Nevada, Washington, Oregon New Mexico and Utah. The professionals at Venture Corporation have extensive expertise in all aspects of the commercial real estate industry including property acquisition, government entitlements, environmental compliance, project planning and design, debt and equity finance, construction, marketing, leasing and sales. Venture Corporation is one of the largest development companies in Northern California and has been featured in dozens of newspapers including the “Wall Street Journal” and the “New York Times.” The Company is particularly well known for its Venture Commerce Center and Venture Professional Center developments and for Morgan Hill Ranch, Silicon Valley’s largest business park. The value of projects now in development exceeds $400 million.
 
VENTURE CORPORATION MANAGEMENT TEAM

California Headquarters



 


ROBERT J. EVES, President:

Robert Eves formed Venture Corporation in 1976 and serves as its president. Over the past 30 years, Rob has been responsible for all aspects of the Company including, project acquisition, finance, marketing, sales, leasing and management. He has structured the financing for hundreds of millions of dollars of development projects using financing vehicles involving both domestic and foreign capital and debt sources. Venture Corporation has participated in dozens of development projects of various sizes and types and has a string of successes ranging from residential developments to office buildings, industrial R&D facilities to raw land development, commercial condominiums to business parks. At Venture Corporation, Rob focuses primarily on the creative and marketing side of the Company's operations, including architectural design themes and marketing campaign organization and administration. Originally from Omaha, Nebraska, Eves attended the University of Kansas and Florida State University.

E-mail:  eves@venturecorporation.com




MARK A. HEAVEY, Chief Operating Officer:

Mark Heavey generally oversees all Company development operations and specifically the projections and performance of the various development projects. He is experienced in government entitlement, construction, project management, finance and all other aspects of real estate development. Mark has been involved in the real estate and construction business for more than 20 years including 13 years at W.L. Butler Construction Company where he served as President of W.L. Butler Investment Corporation for six years. In that capacity, Mark Heavey was responsible for developments and joint ventures including residential, commercial, office and land projects. He has been involved in the development of over 700 residential units and numerous commercial projects. Mark holds a Bachelor of Science degree from Santa Clara University.

E-mail:  heavey@venturecorporation.com




E. JAMES BURCK, Chief Financial Officer:

Jim Burck has responsibility for all Venture Corporation financial, accounting and reporting functions and is the principal liaison to the Company's banks, partners and construction and permanent mortgage lenders. Jim has been involved in real estate development, in both consulting and management capacities, for over 20 years. A CPA with 12 years experience at three international accounting firms, he has consulted exclusively with real estate industry companies. More recently, Jim was Vice President for Finance at Corrigo Incorporated, a provider of mobile service management solutions to commercial and residential real estate property management operations. Jim previously served as the CFO of another leading Bay Area real estate developer. Jim's particular expertise includes capital and operating budgeting, the formation and operation of partnerships and LLCs, real estate taxation and accounting and financial operations in general. He has raised more than $700,000,000 in debt and equity while at Venture Corporation. Jim is a published author in leading tax journals and was a contributing author of the Urban Land Institute's "Office Development Handbook." Jim has both his MBA and BA from the University of Michigan.

E-mail:  burck@venturecorporation.com




ERNST R. KNODEL, Senior Development Vice President:

Ernie Knodel is the head of all development activities and is responsible for overseeing the Company's Development Vice Presidents. With over 28 years of experience in construction and real estate development, Ernie provides a cooperative team building approach to project feasibility analysis, entitlement, construction and sales. Prior to joining Venture Corporation, he served as Vice President, Development West for AMB Property Corporation, a San Francisco-based REIT. He was instrumental in establishing AMB's major development activities in Southern California and Central Mexico, redevelopment projects in Anaheim, Chicago, Boston and New York and build-to-suit developments in Chicago and Atlanta. Prior to locating to California, Ernie provided development and project management services in his native Canada to a variety of local and national clients. Originally from Winnipeg, Manitoba, Canada, Ernie earned a diploma in Architectural Technology from Red River College and received a Letter of Accomplishment (Honors) from the University of Manitoba - Institute of Canadian Bankers Management Program while serving as Assistant Manager of Real Estate Operations at the Toronto Dominion Bank.

E-mail: knodel@venturecorporation.com




W. YATES McKENZIE, Development Vice President:

Yates McKenzie is responsible for managing all aspects of well over $150 million of the company's development projects from inception through final completion. Yates brings more than ten years of commercial real estate experience to Venture Corporation with a broad range of disciplines including construction management, development, structured finance and acquisitions. He has a strong institutional background in real estate finance and has worked in office, retail, industrial / flex and residential product types. Before joining Venture, Yates McKenzie was Vice President - Acquisitions with the prominent real estate investment banking firm, Buchanan Street Partners, where over a six-year period he was directly involved with the investment of over $1 billion in various commercial projects. Yates is currently involved with numerous industry organizations, is a licensed California real estate broker and holds a Bachelor of Science degree from the College of Charleston in Charleston, South Carolina.

E-mail: mckenzie@venturecorporation.com




MICHAEL L. TURNER, Development Vice President:

Michael Turner is responsible for managing all aspects of well over $60 million of the Company's development projects from inception through final completion. Michael brings more than 25 years of commercial real estate experience to Venture Corporation in a broad range of disciplines including construction management, property management, leasing, sales and development,. Before joining Venture Corporation, Michael was a Vice President at Prologis, the world's largest industrial REIT and a Director of Development for Catellus Development prior to its acquisition by Prologis. His responsibilities included marketing and leasing of over five million square feet of industrial space as well the development of infrastructure on 410 acres of R&D and office property in a master development agreement with San Joaquin County, California. There his duties included capital deployment in the Central Valley region, leasing, land sales and infrastructure development coordination on 660 acres of light industrial, office and R&D properties. Michael has a California Real Estate License and a Bachelor of Science degree in Accounting and Business Administration from Trinity University in San Antonio, Texas.

E-mail: turner@venturecorporation.com




MEREDITH L. EVES, Marketing Director:

Meredith Eves, daughter of the Company founder, has responsibility for all aspects of Venture Corporation's communications programs and works closely with the Company's Development Managers and graphics artists to create and implement the marketing programs for the various development projects. This includes design and management of the Company's many development websites, project brochures and western states e-mail campaigns. She oversees the content, layout and printing of marketing materials that are distributed in quantities of tens of thousands each month and broadcast business e-mails in the hundreds of thousands. In addition, she manages the advertising and public relations press releases in various weekly business journals and community newspapers and directs the project sign programs. Meredith also organizes construction wall-raising parties and open-house events at the Company's many jobsites. Meredith is a graduate of Pepperdine University in Malibu, California where she earned a Bachelor of Science degree in Business Communications.

E-mail:  meredith@venturecorporation.com




MARGARET MEINBERG, Office Manager:

Margaret Meinberg is responsible for the oversight and management of the Company's daily office operations, office equipment, personnel organization and routine operating procedures. Margaret has 18 years of management and administrative experience, and, prior to joining Venture Corporation, worked with several progressive Bay Area companies including six years managing the office operations for a prominent national software publisher. Here's a tip to Venture Corporation's vendors, colleagues, consultants and associates: If you want something done, call Margaret. Margaret has a Bachelor of Arts degree from California State University, Sacramento.

E-mail:  margaret@venturecorporation.com
 

VENTURE CORPORATION PROJECTS - CURRENT
(Beginning with most recent)

New VENTURE COMMERCE CENTERS now under development in various stages. These are in addition approximately 20 other VENTURE COMMERCE CENTERs (see below explanation) already built in many locations in California and Nevada:

· Lancaster, California: 8.9 acres – 64 individual business properties – 84,008 square feet

· Palmdale, California (1): 5.3 acres -- 35 individual business properties – 67,510 square feet

· Palmdale, California (2): 6.2 acres – 22 individual business properties – 69,820 square feet

· Brentwood, California: 26 acres – 68 individual business properties – 107,047 square feet + 16 acres to be developed as a retail center

· Hercules, California: 6.7 acres – 20 individual business properties – 41,348 square feet

· Alameda, California: 3.4 acres – 24 individual business properties -- 42,048 square feet

· Dublin, California: 4.2 acres – 27 individual business properties – 53,722 square feet

· Otay Mesa (San Diego), California: 8.4 acres – 56 individual business properties – 118,800 square feet

· Albuquerque, New Mexico

· Hillsboro (Portland), Oregon

· Snoqualmie (Seattle), Washington

· Mill Creek (Seattle), Washington

· Spanish Springs (Reno), Nevada

· Las Vegas, Nevada

40,000 square foot VENTURE PROFESSIONAL CENTER medical / dental condominium development in Morgan Hill, California. This development of commercial condominiums is targeted at medical and business professionals. The building is a single-story raised-panel concrete structure with an elegant lobby and common area restrooms. Construction was completed Summer 2005, and the project is already 50% sold out. The average suite size is projected 2,200 square feet. Construction financing was provided by Sterling Bank & Trust in San Francisco, California. For more complete information on the Internet, go to www.VentureProfessionalCenter.com.

VENTURE COMMERCE CENTERS. Following the success of the first VENTURE COMMERCE CENTER in Morgan Hill, California, and many others since, VENTURE COMMERCE CENTER developments are currently underway throughout California and in several other western states. VENTURE COMMERCE CENTERs are developments of commercial condominium business properties ranging in size from 15 to 90 individual properties in developments totaling 50,000 to 200,000 square feet. They consist of Class-A office-style buildings with two-story offices in the front and 21-foot clear height “flex areas” in the rear. The individual business properties range in size from about 1,500 to 4,000 square feet and are available for purchase by small companies of all kinds. Current buyers are using their privately owned properties in office, light industrial, general commercial, distribution and laboratory applications. VENTURE COMMERCE CENTERs are now in planning, construction or marketing in the dozens of cities throughout California and in Nevada and Washington. On average, a new Venture Commerce Center is started every two weeks. Approximately 2,000,000 square feet of projects are in various stages of development as of this report date with more centers in planning in California and surrounding states. Venture Corporation has become the largest builder of small, privately owned business properties in the western United States. For more information, go to www.VentureCommerceCenter.com.

60,000 square foot VENTURE PROFESSIONAL CENTER medical / dental condominium development in Hercules, California. The building is a Frank Lloyd Wright inspired design consisting of a two-story raised-panel concrete structure with elevator and common area restrooms. Construction was completed in June 2004, and the project is entirely sold out. The average suite size is 2,200 square feet. For more information on the Internet, go to www.VentureProfessionalCenter.com.

350-acre Morgan Hill Ranch in Morgan Hill (southern Silicon Valley), California. Morgan Hill Ranch is a master planned community built between Highway 101 and Monterey Highway in Morgan Hill, a mile and a half from the San Jose city limit. According to the "San Jose - Silicon Valley Business Journal", Morgan Hill Ranch is the largest business park in all of Silicon Valley. It combines about 3,000,000 square feet of R&D (light industrial) and office properties, a 250,000 square foot retail center, an apartment complex, mid-density residential and restaurants. Morgan Hill Ranch is already the home of more than 60 companies, and another 40 are expected in the future. Among the existing firms are Abbott Laboratories, a Fortune 50 company with a 260,000 square foot medical electronics plant and Anritsu Corporation, a multi-national manufacturer of communications and measurement products based at a five-building campus at Morgan Hill Ranch. A 285,000 square foot automated distribution facility was completed by the Koll Real Estate Group. The 96-unit apartment complex was completed in 1998 and is fully occupied. Morgan Hill Ranch is owned by a Venture Corporation subsidiary. For more information, go to www.MorganHillRanch.com.

81,000 square foot R&D electronics manufacturing facility. Venture Corporation developed and leased to Alien Technology its 81,000 square foot headquarters at Morgan Hill Ranch, Morgan Hill, California, in two buildings joined by a glass atrium. The 50,000 square foot manufacturing portion contains multiple Class 10, Class 100 and Class 1000 "clean rooms" and extensive process piping for use in Alien's manufacturing operations. Alien Technology developed a manufacturing technology of "nano" sized electronics for radio-frequency "RFID" tags and other applications that are being produced in this high tech facility.

31,000 square foot office building. A "Mission style" two-story office building built at Morgan Hill Ranch in a joint venture partnership with a Morgan Hill development firm. Construction was completed in 2002 and the project was fully leased out.

Two 34,000 square foot R&D buildings (total 67,887 square feet). These two Morgan Hill Ranch buildings were constructed in 2002 and pre-leased to K.R. Anderson, a high-tech industry sales and distribution firm.

22,000 square foot R&D building and four 10,000 square foot R&D buildings on Digital Drive. Digital Drive is a new Morgan Hill Ranch street targeted at small and start-up high tech companies. The Digital Drive buildings were built with 18-foot clear ceiling height, and ranged in size from 10,000 to 35,000 square feet, offering varying high tech architectural designs. All buildings were designed by Ware Malcomb Architects.

74,000 square foot industrial building leased to a medical products company at Morgan Hill Ranch. The building was developed in a joint venture between Venture Corporation and Sares-Regis Group, a highly regarded building and development firm based in Foster City, California. The facility was designed for office and distribution use and was occupied by its tenant, North Coast Medical. The architect was TSH of Foster City, California.

VENTURE CORPORATION PROJECTS - PRIOR

Venture Corporation was involved in numerous residential and land development projects in the 1980s and early 1990s. In some cases, these projects were built and sold out. In others, developments were planned on raw land and infrastructure, architecture and engineering work was completed with the intent of selling the projects, sometimes with all government development entitlements in place, to other building companies. Some projects involved partnerships in which Venture Corporation was an active partner, and others were done by Venture Corporation staff alone. Several of the larger projects were condominium conversion developments in northern and southern California. One of Venture Corporation's residential developments, a 230 unit condominium development in Santa Clara, was given the Grand Award for the outstanding residential real estate development of the year by the Northern California affiliate of the National Association of Homebuilders.

VENTURE CORPORATION PROJECTS - STAFF

Venture Corporation's staff members all had extensive experience in commercial and residential development and construction projects with other firms prior to joining Venture Corporation. Information about these experiences is available upon request.

VENTURE CORPORATION - CONSULTANTS

Venture Corporation engages numerous consultants specializing in the various aspects of land use law, finance, partnerships, bond and environmental policy compliance. The company also maintains relationships with many architects, engineers (civil, structural, geotechnical) and various other development specialists whose services are extensively used in the development of company projects. A complete list of the many firms with which Venture Corporation has business relationships is available upon request.

VENTURE CORPORATION - FINANCIAL

Venture Corporation has been involved in hundreds of millions of dollars of real estate investment and development projects over its 25 years in business. The firm enjoys excellent banking relationships with dozens of banks and financial sources of various kinds. Complete information on the company's financial relationships is available upon request.