Natelli Communities announces new Build-to-Suit Corporate Headquarters project at Urbana Corporate Center in Frederick County, Maryland

FREDERICK, Md.--(BUSINESS WIRE)--Tom Natelli, CEO of Natelli Communities, announced today that Banner Life Insurance Company (“Banner Life”) plans to relocate its corporate headquarters to a new facility to be constructed in Urbana Corporate Center in Frederick County, Maryland. Urbana offers Banner Life employees an appealing lifestyle, including an easily accessible location on I-270, great housing choices close by, a highly rated public school system with elementary, middle and high schools right in Urbana, a new walkable town center, a new state-of-the-art public library and exciting new retail and mixed-use amenities planned for the area. Frederick County is home to a highly skilled and well educated work force and offers wonderful amenities, including the charm of historic downtown Frederick City, great parks and a friendly and welcoming atmosphere.

Natelli Communities, an award winning developer of master-planned communities, is the developer of the Villages of Urbana and Urbana Corporate Center, comprising approximately 3 million square feet of office, 850,000 square feet of retail and 3,500 homes located at the I-270/Route 80 Interchange in Urbana. Akridge, a premier developer of commercial buildings in the Washington metro area, will serve as development and construction manager for the project and will provide property management services.

Banner Life will relocate approximately 400 employees and occupy 115,000 square feet in a building to be developed and constructed by Natelli Communities and Akridge between now and the summer of 2011. Groundbreaking is scheduled for spring of 2010.

Banner Life is being represented by Tom Seybold of Strategic Project Solutions and Robb Johnson, Jim Cahill and Pete Briskman of Jones Lang LaSalle.

About Akridge: Founded in 1974, Akridge is a full-service commercial real estate firm based in the Washington, D.C. area. The company’s projects total over 12 million square feet of office, industrial/flex, residential, retail, and entertainment space at a value of over $2.0 billion. Akridge involves top-level executives in every aspect of the business on a daily basis, understands the D.C. metropolitan area as only a locally-based market leader can, and has experience managing development for other headquarters projects including the National Park Service, COMSAT, Commerce Corporation, the American Association for the Advancement of Science, and the International Brotherhood of Electrical Workers.

About Natelli Communities: NATELLI COMMUNITIES is a privately held real estate development and building concern headquartered in Gaithersburg, Maryland. Operating principally in the Mid-Atlantic Region, Natelli is the developer of over 75 communities including Bay Forest, Sunset Island, Villages of Urbana, Lakelands, and Avenel. Thoughtful Planning, Timeless Design and Attention to Detail are the hallmarks of Natelli's award-winning reputation. Their commitment to excellence is evidenced by dozens of local and national awards, including the Urban Land Institute’s "Award of Excellence" for Avenel in Potomac, Maryland, and “Environmental Developer of the Year Award” for innovative wildlife protection efforts in the development of Lakelands in Gaithersburg, Maryland.