Microsoft selects Studley; Julien J. Studley tapped to handle Microsoft real estate needs nationwide.

NEW YORK--(BUSINESS WIRE)--July 18, 1996--Software giant Microsoft Corporation has selected Julien J. Studley, Inc., a national commercial real estate firm headquartered in New York, to be its exclusive provider of corporate real estate services in the United States.

Studley will field the assignment with a five-person account team designed to provide Microsoft with strategic planning services as well as regional transaction management.

The Studley Team is headed by Stephen Walbridge, a senior managing director based in Studley's Los Angeles office. As the account manager, Mr. Walbridge will work closely with Microsoft's Real Estate & Facilities Group to provide overall portfolio management and strategic planning services.

Individual transactions will be handled by three regional managers: Michael Colacino, a senior managing director based in Studley's Midtown New York office will manage transactions in the Northeast/Central region; Neal Golden, a corporate managing director with Studley's National Accounts office will handle the Southeast region; and David Gordon, a corporate managing director based in Studley's Los Angeles office, will direct transactions in the Western/Central Region. Therese Mercer, a leasing broker with Studley's National Accounts office will operate out of Microsoft's headquarters office in Redmond, Washington where, as assistant account manager, she will serve as the primary liaison between Microsoft and Studley. Thomas Turley and Stephen Barker, leasing brokers based in Studley's Los Angeles office, will provide additional support to the Studley team.

"Prior to Studley, the team of brokers that negotiated transactions for Microsoft were primarily based in Seattle," Walbridge explains. "The Studley regional managers are geographically spread out around the country, which means they are closer to the transactions and to the Microsoft customer groups that will occupy the space," he relates.

High-Tech Brokerage

One of the ultimate goals for the alliance is to use Microsoft's technology, and Studley and Microsoft's real estate expertise and processes to create an even faster and more efficient relationship between the customer groups, service provider, and real estate and facilities group. "broker and client in a way that has never been done," says Walbridge. "We see the flow of information as instantaneous, seamless and at some point, completely paperless."

Accordingly, an intense focus on communication is a key component of the Studley/Microsoft plan. The backbone of this communication infrastructure will be through Microsoft Exchange, which combines electronic mail, group scheduling, electronic forms and groupware applications on a single platform that can be managed with a centralized administration program. "Microsoft is devoted to the development of the most advanced communication technology, while Studley has been very proactive in using technology to advance communication among its offices and to improve the efficiency and sophistication of its client-services," says Walbridge.

The two companies also found common ground in their entrepreneurial perspective, and the solid synergy between team- members. Frank White, Domestic Real Estate Representative for Microsoft notes, "In our short time together, we have found the Studley team smart, flexible and adaptable to our fast-paced environment. Moreover, their experience as tenant representatives, negotiating transactions from our point of view, will help us hold down our occupancy costs as we enter a time of reduced office space supply, rising demand, and higher rents."

Julien J. Studley, Inc., is a national commercial real estate firm with twelve offices nationwide. Headquartered in New York, the firm was founded in 1954, and has over 200 real estate professionals nationwide. Studley represents the consumer of real estate, and is recognized for the special services it provides tenants in major lease negotiations.

CONTACT: Julien J. Studley, Inc.

National Headquarters

Renay Weissberger: [phone]

or

Wests Coast

Stacey Paris [phone]