FOR IMMEDIATE RELEASE

Ashco Commercial Developers, one of Jacksonville's leading commercial development companies, is proud to announce that all permits have been obtained and construction has commenced on Palencia Plaza at the main gate to the Prestigious Hines Development of Palencia.  Located on  US-1 north of World Golf Village Drive, Palencia Plaza will be a 40,000 square foot shopping center that will serve as the gateway for this upscale community.  Palencia Plaza will share the same Spanish-Mediterranean styling cues that exist inside the gates of Palencia. "We have gone to great expense to make sure that every stone and every landscaping detail will be of the same quality and aesthetic appeal that the residents of Palencia have become accustom to." says Jonathan Daugherty of Ashco Inc. " the broad patios, large Spanish towers, and beautiful landscaping will create a wonderful open air shopping and dining experience not found anywhere else in North Florida". Several national tenants are currently negotiating rights to be in this development. First Atlantic Bank was the first tenant to secure a space and will occupy a 4500 square foot out parcel on US-1. When Palencia Plaza is completed in late 2008 it will feature a wide array of fine restaurants and boutique shops as well as services for the estimated 24,000 new homes planned to be built along US-1 between south Jacksonville and North St. Augustine. For more information on this project call Ashco at (9040 242-9000 or visit www.jacksonvilleshoppingcenters.com

Press Contact: Jonathan Daugherty (904) 866-6937