Thomas Properties Group Announces Tenant Expansions At Two Downtown Austin Locations

AUSTIN, Texas – March 2, 2010 – The Austin office of Thomas Properties Group Inc. (Nasdaq: TPGI) recently renewed two tenant contracts, including expansions for both.
Prime New Ventures, headquartered at One American Center on Austin’s best-known corner of 6th Street and Congress Avenue, is expanding its second-floor offices from approximately 12,000 to 17,000 square feet and extending its lease in this Class-A building.

“Downtown is the heart of Austin and 6th & Congress is the heart of downtown — it’s the ideal location if you want to connect to Austin’s business and entertainment venues,” said Chris Marchbanks of Prime New Ventures.

Thomas Properties Group is also pleased to announce that Rogge Capital Management is expanding and extending its office lease from approximately 2,900 to 4,800 square feet on the 27th floor of the Frost Bank Tower, Austin’s tallest office building.

”We’ve been in the Frost Bank Tower for four years, and have been pleased with its convenient location in the heart of Austin. Over the last year, our firm has expanded and our space requirements have increased substantially,” said Chico Korth of Rogge. “We’re extremely pleased that we can continue to call Frost Bank Tower our home for the foreseeable future.”

Mark Miller and Andy Smith represented Thomas Properties Group on these transactions; Chris Marchbanks (CresaPartners) represented Prime New Ventures and Derek Lewis (Stream Realty) represented Rogge Capital.

“While occupancy and rental rates have remained relatively stable in Austin’s Central Business District, we’re excited to see our tenants starting to grow again,” said Andrew Smith, managing director of leasing for Thomas Properties Group in Austin. “This is a testament to the hard work of these companies and further affirms the commitment the City, the Greater Austin Chamber, the Downtown Austin Alliance and its members have all taken to keep downtown thriving.”

About Thomas Properties Group, Inc.
Thomas Properties Group, Inc., based in Los Angeles, is a full-service real estate company that owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties on a nationwide basis. The company's primary areas of focus are the acquisition and ownership of premier properties, both on a consolidated basis and through its strategic joint ventures, property development and redevelopment, and property management and leasing activities. For more information about Thomas Properties Group, Inc., please 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 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 Form 10-K for the year ended December 31, 2008, and contained in our reports on Form 10-Q for fiscal quarters during 2009, 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.

Media Contact:

Brian Dolezal
TateAustinHahn for Thomas Properties Group
512.344.2035 or 512.619.6742
bdolezal@tateaustinhahn.com