Masuda Funai Expands and Relocates Suburban Office

CHICAGO/SCHAUMBURG, IL - March 17, 2003 - The law firm of Masuda Funai Eifert & Mitchell, Ltd. has announced the expansion and relocation of its suburban Chicagoland office to the new Schaumburg Corporate Center III, 1475 East Woodfield Road in Schaumburg. The firm moves from its existing location at 1701 Golf Road in Rolling Meadows, effective Monday, March 17, 2003.

"Our objective in the decision was to create cutting-edge work space for our employees and to improve accessibility to our clients," said Dayne Kono, Managing Partner of Masuda Funai. "We've selected a centrally-located, state-of-the-art facility and have implemented a modified universal office structure to maximize space efficiency and reduce overhead costs."

Masuda Funai, which opened its Chicago offices almost 60 years ago, established its suburban office in 1983 and has grown to be one of the largest law firms in Chicago's suburbs. The new 11,000-square-foot office will help accommodate growth and improve operations. As one of the newest office buildings in suburban Chicago, Schaumburg Corporate Center III offers cutting edge technology and high-quality meeting and conference space, as well as convenient access.

"When we first opened our office in Rolling Meadows, we started with one attorney, a paralegal and a receptionist," said Mr. Kono. "As we continue to cultivate our suburban client base, we've expanded there to nine attorneys supported by 17 paralegals and administrative staff. "

David J. Gelfand, John D. Ziesmer, and Stephan Richford of the real estate services firm, Julien J. Studley, Inc. represented Masuda Funai. Additional market analysis and consulting services were provided to Masuda Funai by Yasuko Okigawa and Kay Rohan of the full service commercial real estate firm of TriStar Associates LLC, in Mt. Prospect. Masuda Funai received in-house legal representation from Keith Groebe, Chair of the Firm's Real Estate Practice Group. Architectural and interior design services were provided by Hydzik Shade Associates of Chicago. Manulife Financial, landlord of 1475 East Woodfield Road, was represented by Candace Keiser and Bruce Pierson of the firm, with legal representation from Holland and Knight.

According to Studley's Gelfand, "The mantra for law firms today is creating more favorable rent-to-revenue ratios, the industry benchmark for healthy real estate transactions. This transaction clearly accomplished that."