First Franchise in Kentucky Opens

Nashville, Tenn. – Crye-Leike, the largest real estate company in Tennessee and the Mid-South, has sold its first Crye-Leike franchise in Kentucky, Warren County. Harold Crye, chief executive officer, has signed a franchise agreement with co-owners Kirk Tinsley and Geoff Fields to operate Crye*Leike Executive Realty in Bowling Green, making it one of nine Crye-Leike franchises company wide.

Bowling Green, Ky., known as the home of the General Motors Corvette Plant, is located 60 miles north of Nashville, Tenn. and 110 miles south of Louisville, Ky. with a population of 48,300. The city was recently named among the top 10 small cities in which to locate a business by Site Selection Magazine.

Partners Tinsley and Fields are entering the Bowling Green real estate market in a big way. They are building a 9,500 sq. ft. office building at 1268 Campbell Lane. Crye*Leike Executive Realty will occupy 4,500 sq. ft. to accommodate up to 35 sales associates. The property is located on Campbell Lane, 1.2 miles from Scottsville Road (Highway 231) and directly adjacent to MediPlex Rehabilitation Hospital. The building will be completed by April 1, 2002.

“My partner and I are committed to this project and to Crye*Leike Executive Realty serving the real estate needs of buyers and sellers in Warren and surrounding counties,” said Tinsley. He notes that Crye*Leike Executive Realty will specialize in residential and commercial sales and leasing, property management and auction services, serving the counties of Warren, Simpson, Allen, Barren and Logan.

“Geoff and I decided that if we were going to get into our own real estate business that we needed to be affiliated with a real estate franchise that would give us an advantage above the rest. We chose Crye-Leike because it has a strong brand awareness in the Mid-South and an infrastructure in place that is like no other in the area.”

“Crye-Leike’s Franchise Division will allow us to extend Crye-Leike’s one stop shopping’ concept to our clients,” said Tinsley. “For example, we will offer relocation services, a comprehensive network of services that assists families, individuals and corporate groups relocating to virtually any community in the United States or abroad. We also will offer Crye-Leike’s affiliated services like auction services, mortgage lending, insurance services and home services, a network of home and family related services that provide home buyers and sellers personalized service, convenience and savings for all of the activities and transactions associated with home purchases, sales and homeownership.”

Poston Construction is serving as the contractor for the project. Financing is provided by American Bank & Trust of Bowling Green, Ky.

The remaining 5,000 sq. ft. has been leased to a Mexican restaurant, Peppers Mexican Grille, owned by El Alteno of Nashville, Tenn. which has five locations in Nashville. The restaurant is planning an opening date of May 15, 2002.

Tinsley will serve as managing broker of Crye*Leike Executive Realty. He began his real estate career in 1995, selling residential and commercial properties before deciding to open his own real estate company. He served in the United States Navy from 1988 to 1991 as an aircraft electrician on A6 attack aircraft. He was stationed on the U.S.S. Constellation and the U.S.S. Independence in operations Desert Shield and Desert Storm during the Persian Gulf War.

Geoff Fields is currently serving as a member of the board of directors of American Bank & Trust and is owner of Tender Touch, a full service car wash with two locations in Bowling Green. He is involved in land development and has other business interests in Jackson and Memphis, Tenn., Marco Island, Fla. and St. Croix, Virgin Islands.

Crye-Leike (www.crye-leike.com), a full service real estate company for 25 years, is the nation’s 13th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,200 sales associates and 57 branch and franchise offices located in 28 counties throughout a five-state Mid-South region in Tennessee, Arkansas, Kentucky, Mississippi and Georgia.

Crye*Leike Franchises Inc. (franchises.crye-leike.com), a real estate franchiser subsidiary of Crye-Leike, Realtors, focuses its marketing efforts on establishing franchises in smaller populated areas where it would not normally open a company office because of market size and location. Other franchises are currently located in Arkansas, Mississippi and Tennessee with future plans to expand into contiguous states.