Matrix Corporate Center in Danbury to Donate $26,000 to Local Charities on Behalf of General Motors

DANBURY, Conn., Sept. 21 /PRNewswire/ -- Matrix Realty Group, a growing, dynamic national real estate investment firm, today announced that it has pledged to donate $26,000 to charity on behalf of General Motors. This announcement comes directly on the heels of the front-page news that Matrix Realty Group signed a lease with General Motors NE Regional US Sales, Service and Marketing Division for 26,000 S/F of Class A office space at the Matrix Corporate Center, its flagship property in Danbury, Connecticut. Matrix Realty Group will be donating $1 for every square foot leased to General Motors and other tenants.

"We are very pleased that a division of General Motors — one of the world's largest automakers — has chosen to relocate to Matrix Corporate Center," said Glen Nelson, Chairman and CEO of Matrix Realty Group. "We are also very pleased to donate $26,000 to charity as part of our charitable giving program. The City of Danbury has been very welcoming and supportive of our presence and we take pleasure in helping local organizations improve the quality of life for people who live and work here. Over the course of our lease-up program, we expect to donate in excess of one-quarter of a million dollars to charity."

General Motors has indicated that it will direct Matrix to contribute to Jericho Partnership, a homeless and at-risk individual support organization based in Danbury; Dorothy Day Hospitality House, a provider of meals and shelter to the homeless based in Danbury; and Ann's Place, a Danbury-based provider of support services for cancer patients and their families.

Since acquiring the Danbury property, Matrix Realty Group has already donated tens of thousands of dollars to various charitable organizations. Recipients of charitable donations have included Junior Achievement of Western Connecticut in Bridgeport, which provides economic education programs for young people, St. Mary's Church in Ridgefield, and The Hord Foundation in Danbury, which provides scholarships for African-American high school graduates.

"The Matrix giving program is part of what executives at the company call the 'Matrix Stimulus Package,'" said Vin Grillo, Executive Vice President of Matrix Realty Group. "As we prosper and grow, we are determined to give back to the economy and stimulate growth and prosperity for others. Part of the way we do this is by committing to one-to-one charitable donations of a dollar per square foot leased as part of our current leasing program. Another aspect of the Matrix Stimulus that contributes directly to our partners in the community is a 10% bonus above and beyond the standard brokerage commission which we have extended to brokers." Chairman and CEO Glen Nelson went further and said, "We know that charities are particularly hard-hit in economic times like these. When people begin to pull back on spending, charitable donations are one of the first items they eliminate. We believe strongly in charitable giving and want to make sure that valuable institutions are sustained despite the economic difficulties that America is facing."

In addition, Matrix Realty Group has contributed to the wellbeing of Greater Danbury by temporarily donating 10,000 S/F of office space at Matrix Corporate Center to Ann's Place, The Home of I CAN, which provides cancer support services — a donation with an estimated annual value in excess of $250,000.

Most recently, Mike Guirgis, director of the Catering and Hospitality services at Matrix Corporate Center, led an effort within the building to donate furniture to Faith Church in New Milford, Conn. Because the cafeteria at Matrix Corporate Center is being completely redesigned, Mr. Guirgis was able to donate almost the entirety of the existing cafeteria package to the church. Almost one thousand chairs and half as many tables found their way to a valuable second life through this effort. Mr. Guirgis has also begun an effort recently to contribute surplus furniture to Danbury High School.

Following its acquisition of Matrix Corporate Center in June of 2009, Matrix Realty Group undertook an extensive $10 million renovation of the property's decor and infrastructure that is now approximately 80% complete. The complex features 1.3 million S/F of Class A office space, 900,000 S/F of covered parking and offers tenants a luxurious, first-class amenities package. General Motors joins an impressive roster of tenants at the facility including Boehringer Ingelheim, Praxair and Honeywell International, as well as a growing number of other companies.

Since acquiring the property, Matrix Realty Group has energetically wooed new tenants seeking Class A office space at highly competitive rates and has executed more than 90,000 S/F of leases. Further leases for approximately 125,000 additional S/F are pending and will be announced soon.

About Matrix Realty Group

Matrix Realty Group is a privately held real estate investment firm focused on acquiring, developing and managing unique properties with high value-added components. The company's U.S. assets include approximately six million square feet of space appropriated evenly between commercial and multi-family holdings. Matrix Corporate Center in Danbury, Connecticut is the company's flagship property. This award-winning signature building was designed by architects Kevin Roche, John Dinkeloo & Associates and features 1.3 million square feet of Class A office space, with 900,000 square feet of conveniently located covered parking. Its luxurious, first-class amenities package includes hotel-quality banquet and catering services provided through Matrix Realty Group's food service division. For further information, please visit www.matrixcorpcenter.com.

SOURCE Matrix Realty Group