Brad Schnepf Steps Down as President of Marnell Properties

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. December 20, 2010

December 17, 2010 - Marnell Properties announced today that, effective January 1, 2011, Brad Schnepf will step down as President of Marnell Properties to form his own real estate consulting company, Schnepf Enterprises LLC, in order to re-position for emerging future opportunities in a transformative business cycle.

Schnepf joined Marnell Properties in 2001 and over the last 10 years he has lead Marnell Properties to what is now a leading commercial real estate development firm in Las Vegas. During that period Marnell Properties has developed and constructed more than 1.3 million square feet of distinctive commercial, retail and office space in the Las Vegas market. Schnepf will remain involved with the Marnell brand as Executive Real Estate Advisor to Marnell Companies, the parent company for Marnell Consulting, Architecture and Properties. Included in this new role, Schnepf will participate in the strategic planning with real estate issues associated with the highly anticipated DesertXpress project.

“It has been a very productive and enjoyable decade with Marnell Properties, however the time is right for me to better utilize the experience and knowledge gained during the past 10 years to strategically address the new types of challenges we see today,” said Schnepf. He added, “With the formation of Schnepf Enterprises I'm able to partner with great organizations, like Marnell Companies, to evaluate opportunities and bring forward-thinking ideas, projects and alliances to a variety companies. I can definitely say the opportunities and experiences afforded to me by working closely with Tony Marnell have truly been an honor and will serve me well in all future endeavors.”

Schnepf will be succeeded by David Simard, as President, who joined Marnell Properties in June. Simard has been assuming the day-to-day business operations for Marnell Properties for the past several months. “To arrive at this day, David and I have been working closely since he joined Marnell Properties. I've seen him embrace our customers and our team and I'm confident he will continue to lead and strengthen our brand,” said Schnepf.

“I'm honored to be given the opportunity of leading Marnell Properties into the future,” said Simard. “I have a great deal of respect for Brad and have been fortunate to work with him. There are few executives, at any company, that combine his experience and his skills as a leader. I'm excited to see his future and to continue to work with him in his new capacity.”

In his new role as President of Marnell Properties, Simard will lead the real estate development, acquisition and sales, entitlement and management of the corporate real estate portfolio.

About Marnell Properties
Marnell Properties is a real estate development company that focuses on acquisition, development and management of commercial, revenue-producing real estate holdings and long-term portfolios. The company specializes in acquiring sites in high-impact areas and bringing to the commercial real estate market quality, location and lifestyle in all its development projects. A division of Marnell Companies, a leading consulting, architectural, design and construction firm, Marnell Properties is located at 222 Via Marnell Way, Las Vegas, Nevada 89119. For more information, visit www.marnellproperties.com.