GREENSBORO, NC- Davenport, Marvin, Joyce & Co., LLP (DMJ) is pleased to announce that in a deal with Starmount Co., the accounting and professional service firm has purchased property in the Green Valley Office Park for development of a two story 30,000 square foot office building. Following its construction, DMJ will relocate from its current Battleground Avenue location and occupy the new office as firm headquarters. DMJ also maintains two offices in Burlington and Sanford.

The build-to-suit project includes six conference areas and office space to accommodate its growing staff. DMJ plans to occupy the second story of the office building and will lease the majority of the first floor space to a local bank with a two-lane drive-through. Sighting its explosive growth over the last several years in many of its business segments, DMJ recognized the need to develop an office headquarters facility for its staff of nearly sixty based in Greensboro. In the next three years, the firm projects its budget to grow by forty percent due to an increase in work in such core areas as tax and audit.

Construction will begin before the year closes and DMJ plans to occupy the space by December 2008.

Mike Gillis, DMJ's Managing Partner, attributes the growth to an upward trend in several key industries such as healthcare and wealth management, as well as its core service areas. Gillis says, "DMJ's greatest strength is in our personal attention and our comprehensive reach with each and every client. The phenomenal growth speaks to the success of our relationships."

DMJ is represented by, Tom Townes, CCIM, SIOR and Kevin Kemp, Triad Commercial Properties (TCP), which negotiated the purchase of the site and the development agreement on behalf of a DMJ partnership. TCP has had an excellent ongoing relationship with DMJ since 1988 and has handled several real estate assignments for the firm.

DMJ had previously announced its intent to purchase and develop nearly three acres of land in downtown Greensboro along Cedar and Spring Streets. However, DMJ declined on the offer to purchase. "The site was very attractive to us, but did present some challenges as to the type of structure we wished to construct. We are confident that the new Green Valley Office Park location is ideal for the office design and a location that is arguably one of the best areas for professional service providers in Greensboro," notes Gillis.

Today's announcement follows a busy year for DMJ, most recently purchasing a new office space in Burlington at Oak Grove Crossings near one of the fastest growing corridors in Alamance County. Last fall, DMJ also purchased its Sanford office building on Main Street. Gillis adds, "Clearly these types of investments speak to the confidence that DMJ's leadership has in the firm's vision and future."

For further information on this project, contact:
Mike Gillis with DMJ at (336) 275-9886
Tom Townes of TCP at (336) 668-9999
Coolidge Porterfield of Starmount Co. at (336) 299-2800

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