Thomas Properties Group Reports Blistering Leasing Pace At Houston Properties; Companies Sign On For 1,285,000 Square Feet In Its First Year In Market

HOUSTON – Thomas Properties Group, Inc. (NASDAQ:TPGI) entered the Houston property market in October 2005 and has signed leases for 1,285,000 square feet of office space during its first 12 months of property ownership and management in the Texas city. The firm worked with 20 real estate brokerage firms on the transactions that ranged from 600,000 to 2,000 square feet.

“By any measure, this has been a most successful first year and completely reinforces our decision to adopt Houston as a strategic market focus,” said James A. Thomas, Chairman and Chief Executive Officer. Thomas noted that the company’s research and market analysis identified the greater Houston area as a dynamic and improving market with ample potential to acquire well-located properties that could be upgraded and repositioned to retain and attract topflight tenants. “This strategy has paid off handsomely,” he added.

Thomas Properties Group acquired four commercial office properties In Houston submarkets with a total square footage of 2.5 million square feet in October 2005 and then purchased another 1.5 million square feet in June 2006; both acquisitions were made through its joint venture with the California State Teachers’ Retirement System, TPG/CalSTRS, LLC.

Chip Colvill of Colvill Office Properties represented Thomas Properties Group in all the transactions through TPG Colvill, his firm’s exclusive relationship with Thomas Properties Group to jointly manage leasing and marketing activities in Houston. Colvill is an owner’s representative leasing organization specializing in major commercial office properties and has an outstanding record of tenant retention. Seventy-five percent of the leases at the Thomas Properties Group properties were existing tenant renewals.

Representing tenants in the transactions were brokers from Cushman & Wakefield, CBRE, Colliers, Equis, Fuller Realty, Henry S. Miller, J. Beard Co., Jackson & Cooksey, Mission Companies, Moody Rambin, Newmark, Newquest, Office Space Advisors, Oxford Partners, Partners Commercial, Staubach, Studley, Trammel Crow and Transwestern.

“Houston has a group of highly professional and knowledgeable real estate brokers from the largest international firms to local entrepreneurs and their skills were integral to making this such a great year,” said Colvill. “We have appreciated the strong broker support of our efforts.”

Thomas Properties Group currently owns or manages a portfolio of more than 12 million square feet of commercial real estate nationwide. It is a nationally recognized leader in high performance green property development and management and is the developer and operator of the most honored sustainable high rise office building in the United States, the 950,000-square-foot California EPA Headquarters Building in Sacramento, CA which was the first high-rise office building to receive LEED Platinum certification by the U.S. Green Building Council.

About Thomas Properties Group

Thomas Properties Group, Inc., based in Los Angeles, is a full-service real estate company that owns, acquires, develops and manages office, retail and multi-family properties throughout the United States. The company has four primary areas of focus: property operations, property acquisitions, property development and redevelopment, and investment management. For more information on Thomas Properties Group, Inc., visit www.tpgre.com

Forward-Looking Statements
Statements made in this press release that are not historical may contain forward-looking statements. Although Thomas Properties Group, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. Factors that could cause actual results to differ materially from the company's expectations include actual and perceived trends in various national and economic conditions that affect global and regional markets for commercial real estate services, including interest rates, the availability of credit to finance commercial real estate transactions, and the impact of tax laws affecting real estate. For a discussion of some of the factors that may cause our results to differ from management's expectations, see the information under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations - Factors That May Influence Future Results of Operations" in our 10- K for the year ended December 31, 2005, and contained in the company’s reports on Form 10- Q for fiscal quarters during 2006, which have been filed with the SEC. Thomas Properties Group, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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CONTACT: Investor Relations contact:
Thomas Properties Group, Inc.
Diana Laing, 213-613-1900
or
Media contact:
Casey Sayre & Williams, Inc.
Karen Diehl, 310-396-2400

SOURCE: Thomas Properties Group, Inc.