Forest City Reports Fiscal 2010 Second-Quarter and Year-to-Date Results

CLEVELAND, OH /PRNewswire-FirstCall/ -- Forest City Enterprises, Inc. (NYSE:FCEA)(NYSE:and)(NYSE:FCEB), has announced EBDT, net earnings and revenues for the second quarter and six months ended July 31, 2010.

Second-quarter EBDT (earnings before depreciation, amortization and deferred taxes) was $105.6 million, a 10.6 percent increase compared with 2009 second-quarter EBDT of $95.5 million.

On a fully diluted, per share basis, second-quarter 2010 EBDT was $0.54, compared with 2009 second-quarter EBDT per share of $0.64.

 Total EBDT for the six-months ended July 31, 2010, was $176.0 million, or $0.91 per fully diluted share, compared with last year's $137.1 million, or $1.07 per share.

For a complete copy of the company's release and statistics, please contact
 Robert O'Brien, Executive Vice President - Chief Financial Officer, +1-216-621-6060, or Jeff Linton, Vice President - Corporate Communication, +1-216-621-6060
Web Site: http://www.forestcity.net/

Marcus & Millichap Lists $25M Southern California Building

VISTA, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for the corporate headquarters of DEI Holdings Inc., a 202,045-square foot warehouse and office building (top left photo) in Vista, a city in northern San Diego County.

 The listing price of $25 million represents $124 per square foot. The property is offered at a generous 8.7 percent cap rate.

John Erthein, a vice president investments, and John Smelter, a first vice president investments, both in Marcus & Millichap’s San Diego office, are representing the seller.

“DEI Holdings Inc. has been in business for more than 30 years and employs more than 200 people at this location,” says Erthein. “There are six years remaining on the original term of the lease, which is triple-net and contains annual increases of 3 percent.”

Located at 1 Viper Way, the property includes a 31 percent office build out, 11 loading docks, six grade-level doors, 26-foot to 28-foot clear heights and is situated on an 11.66-acre parcel. The building is easily divisible into three separate units. The parking ratio is 2.16 spaces per 1,000 square feet.

DEI Holdings Inc. is the parent company of the largest designer and marketer in North America of premium home theater loudspeakers, vehicle security and remote start systems, car audio products and other electronics

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

NewMark Merrill Companies Enters Sacramento Market with Property Management and Redevelopment Advisory Services for 365,000 Square Foot Southgate Plaza

SACRAMENTO, CA– NewMark Merrill Companies, a retail development and full-service property management firm, is proud to announce that it has been named to lead the management and redevelopment of Southgate Plaza, a 365,000-square-foot retail center in Sacramento, Calif.

“Southgate Plaza is the type of retail asset which should stand the test of time," said Sandy Sigal (top right photo), Chief Executive Officer and Founder of NewMark Merrill Companies.

"It has excellent demographics, on one of the major intersections in Sacramento, and a long track record of being the center of the community.

"NewMark Merrill Companies also has a long track record of taking assets like Southgate and helping them surpass their prior successes. We look forward to working with the existing tenants, the surrounding community, and new tenants who we feel can add to the tenant line-up, and helping this center thrive again.”

NewMark Merrill will immediately begin a comprehensive repositioning effort for the center. The management assignment is the first for NewMark Merrill in the Sacramento region.

Southgate Plaza was once the dominant center located at the intersection of Florin Road and Franklin Avenue, housing such retailers as Wal Mart, Ross, Albertsons and Office Max.

Currently, the center is 20 percent leased, following the departure of several tenants during this challenging economy.

 Wal-Mart has relocated and opened a new Supercenter just over 1 mile away, and Albertsons, Office Max and Ross have all closed.

Contact: David Ebeling, Ebeling Communications, 949.278.7851, david@ebelingcomm.com