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| HERTZ INVESTMENT GROUP | |
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Hertz Investment Group Partners |
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| Los Angeles, CA., (January 28,
2003) – The Hertz Investment Group has sold a significant share of
the California Market Center, the 3 million square foot showroom facility
in downtown Los Angeles, to dmg World Media. This follows an August 2001
announcement of a long?term lease agreement between the two partners. That
initial lease was the beginning of the renovation and revitalization of
the former CaliforniaMart, including last years successful opening of a
one million square foot permanent showroom facility for the gift and home
decor industries. Previously the mart represented only fashion apparel,
accessories and textiles. Just this month the facility was renamed and rebranded
the California Market Center, the new marketplace for fashion, gift and
home. Recently installed interior and exterior signage at the three?building
complex touts its core branding message Style Starts Here. Bringing dmg World Media into this project is part of a plan by Hertz to realize their vision of the California Market Center as a leading international, year?round destination for fashion, gift and home. "We are delighted to have dmg World Media, the world's preeminent gift and home trade show operator, as our partner in the California Market Center," said Judah Hertz, Chairman of The Hertz Investment Group. The addition of the gift and home mart provided a natural synergy for the entire complex and enhances what we can deliver to retailers and wholesalers, agreed Fred Barnes, dmg World Media Division Executive Vice President. The facility location, in the heart of the L.A. fashion district, provides easy access to the Los Angeles Convention Center, home to the biannual California Gift Show which is owned by dmg World Media and produced by George Little Management, LLC. (GLM) For the California Market Center project, dmg World Media will continue to rely on trade show specialist George Little Management for their marketing expertise in the gift and home decor industries, and, in fact, dmg plans on GLM taking a more active role. Our mutual goal is to better serve our customers through the integration of permanent and temporary venues. This creates a more comprehensive and relevant marketplace, said George Little Management President, Jeff Little. Paul Lentz, general manager of the California Market Center, who was brought in by Hertz in June 2002, will continue to lead an in-house management team that includes mart leasing, marketing and operations professionals. The combined strengths of The Hertz Investment Group and dmg World Media will improve our effectiveness, stated Lentz. The Hertz Investment Group, Inc. Founded in 1979, The Hertz Investment Group is a fully-integrated national real estate investment company specializing in the acquisition, marketing and management of exceptional properties with a special emphasis on downtown revitalization. Hertz has since its inception acquired and managed a diverse collection of more than 100 premier properties throughout the country, encompassing prominent high-rise office buildings; international market centers for fashion, gift and jewelry; historically significant landmark properties; luxury hotels; high profile theaters and society clubs; large retail centers; and multi-family residential properties. dmg World Media dmg World Media, a wholly-owned subsidiary of Daily Mail & General Trust plc (a FTSE 100 company) is recognized as a leading producer of consumer shows and trade exhibitions around the world. dmg World Media produces more than 300 events and publishes more that 60 magazines, directories and market reports. With more than 30 offices operating throughout North America, South America, Europe, Asia, Australasia and the Middle East, dmg World Media employs approximately 800 people. George Little Management George Little Management is the largest privately held producer and marketer of tradeshows for consumer goods in the United States. The third generation, family?owned business is headquartered in White Plains, NY and serves the following interlinked industries as diverse as giftware, stationery, textiles, tabletop, gourmet products, personal care and fragrance. California Market Center Located at Olympic Boulevard and Main Street in the revitalization zone of downtown Los Angeles, California Market Center encompasses 3 million square feet in three 13-story buildings currently with five floors of gift and home accessories showrooms, as well as over 1,000 apparel, fashion accessories and textile showrooms. In a city that looks to the future for inspiration, the California Market Center represents the next era in fashion and style. A one-stop shopping experience for lifestyle resources, the California Market Center is the newest marketplace on the West Coast for fashion, gift and home. |
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