EXHIBIT 10.1EMPLOYMENT AGREEMENT

     1.      Employment . The Company hereby employs the Executive, and the Executive hereby accepts such employment. Such employment shall continue until such time as either party notifies the other party of termination not less than thirty (30) days in advance of the effective date of termination (the period during which the Executive is employed hereunder being hereinafter referred to as the “Term”).

     2.      Duties . During the Term, the Executive shall be employed by the Company as an Executive Vice President of the Company in charge of leasing and marketing, and, as such, the Executive shall faithfully perform for the Company the duties of said office and shall perform such other duties of an executive, managerial or administrative nature as shall be specified and designated from time to time by the Chief Executive Officer (“CEO”) of the Company. The Executive shall report to the CEO and to the Board of Directors (“Board”). The Executive shall devote substantially all of his business time and effort to the performance of his duties hereunder; provided that in no event shall this sentence prohibit the Executive from performing personal and charitable activities, and other business interests that do not conflict with any business activities of the Company.

     3.     Compensation.

     3.1      Salary . The Company shall pay the Executive during the Term a salary at a minimum rate of $225,000 per annum (the “Annual Salary”), in accordance with the customary payroll practices of the Company applicable to senior executives. At least annually, the Board shall review the Executive’s Annual Salary and may provide for such increases therein as it may in its discretion deem appropriate. (Any such increased salary shall constitute the “Annual Salary” as of the time of the increase.)

     3.2      Bonus . During the Term, in addition to the Annual Salary, on June 1, 2006, January 1, 2007, and every six months thereafter during the Term, the Executive shall have the opportunity to receive a bonus; the bonus on May 1, 2006 would be up to $87,500, the bonus on January 1, 2007 would be up to $102,333, and each six-month bonus thereafter (i.e. every January 1 and July 1) would be up to $87,500. The amount of the Executive’s bonus under the preceding sentence shall be determined by the Company considering only the Executive’s performance, including new leases, lease renewals, accuracy of leasing projections and budgets, and discharge of management responsibilities, and without regard to the Company’s overall economic performance. The foregoing bonuses will be paid to the Executive within ten (10) days following the bonus date specified above. The forgoing shall not limit the Executive’s eligibility to receive any other bonus under any other bonus plan, stock option or equity–based plan, or other policy or program of the Company, but Executive acknowledges that the Company will consider the bonus provided to Executive under the first sentence of this Section 3.2 in determining the presence or amount of Executive’s participation in any other bonus plan.

     3.3      Benefits – In General . The Executive shall be permitted during the Term to participate in any group life, hospitalization or disability insurance plans, health programs, retirement plans, fringe benefit programs and other benefits that may be available to other senior executives of the Company generally, on the same terms as such other executives, in each case to the extent that the Executive is eligible under the terms of such plans or programs, and coverage under the Company’s health insurance and hospitalization plans shall include, and the Company shall pay the premiums applicable to such coverage for, the Executive, the Executive’s spouse, minor children and adult children under age 23 who are full time undergraduate or graduate students, to the extent elected by the Executive.

     3.4      Vacation . The Executive shall be entitled to vacation of no less than twenty (20) business days per year, to be taken by the Executive on such days as may be approved by the CEO of the Company. The Executive shall have the right to carry over unused vacation days, but any such carry over of vacation days shall not exceed twenty (20) business days at any time.

     3.5      Expenses – In General . The Company shall pay or reimburse the Executive for all ordinary and reasonable out-of-pocket expenses actually incurred (and, in the case of reimbursement, paid) by the Executive during the Term in the performance of the Executive’s services under this Agreement in accordance with the Company’s policies regarding such reimbursements, but in no event later than thirty (30) days following request for reimbursement accompanied by copies of bills).

     3.6      Automobile . During the Term, the Company shall provide the Executive with an automobile allowance of $500 per month, payable pro-rata with each bi-weekly paycheck.

     3.7      Cellular Telephone . During the Term, the Company shall provide the Executive with the use of a cellular telephone, or, so long as such will not increase the Company’s expense, reimburse Executive (within thirty (30) days following monthly invoice) for a cellular phone and phone plan obtained by the Executive.

     3.8      Stock Grant . Concurrently with execution of this Agreement, Executive and Company shall execute a Restricted Stock Award Agreement granting Executive shares of stock in the Company. The Restricted Stock Award Agreement shall govern the terms of such stock grant except where this Agreement expressly governs; in the event of any conflict between this Agreement and the Restricted Stock Award Agreement, this Agreement shall control.

     3.9 Compensation for Prior Employment Benefits . In partial compensation of Executive foregoing certain benefits that would have accrued to Executive if Executive had remained with his prior employer, Company shall pay to Executive the sum of $30,000 on April 1, 2006 provided Executive is then employed by Company.

     4.      Certain Terminations of Employment; Certain Benefits .

     4.1      Termination by the Company for Cause; Termination by the Executive without Good Reason .

          (a)     For purposes of this Agreement, “Cause” shall mean the Executive’s:

(i)

conviction of (or pleading nolo contendere to) a felony (but in no event including a traffic or similar violation);

(ii)

engagement in the performance of his duties hereunder, in willful misconduct, willful or gross neglect, fraud, misappropriation or embezzlement;

(iii)

repeated substantial failure to materially adhere to the reasonable directions of the CEO, and failure of the Executive to cure such failure within a reasonable period of time following written notice; or

(iv)

material breach of any of the provisions of Section 5, and failure of the Execute to cure such breach within a reasonable period of time following written notice.

          (b)     The Company may terminate this Agreement and the Executive’s employment hereunder with or without Cause, and the Executive may terminate his employment on at least 30 days’ written notice given to the Company. If the Company terminates the Executive for Cause, or the Executive terminates his employment and the termination by the Executive is not for Good Reason (as hereinafter defined), (i) the Executive shall receive Annual Salary and other benefits (including any bonus for a bonus period (as described in Section 3.2) completed before termination and awarded but not yet paid) earned and accrued under this Agreement prior to the termination of employment (and reimbursement under this Agreement for expenses incurred prior to the termination of employment); and (ii) the Executive shall have no further rights to any other compensation or benefits under this Agreement on or after the termination of employment, but the Executive shall retain any shares of stock in the Company that have previously vested.

     4.2      Good Reason for Executive Termination . For purposes of this Agreement, “Good Reason” shall mean, unless otherwise consented to by the Executive,

(i)

the material reduction of the Executive’s authority, duties and responsibilities or the assignment to the Executive of duties materially inconsistent with the Executive’s position with the Company;

(ii)

a reduction in Annual Salary of the Executive;

(iii)

the Company’s failure to pay the Executive any amounts otherwise due hereunder or under any plan, policy, program, agreement, arrangement or other commitment of the Company; or

(iv)

the Company’s material and willful breach of this Agreement.

     4.3      Termination Due to Death or Disability, Termination by Company Without Cause, or Termination by Executive For Good Reason . If the Executive dies during the Term, the Term shall terminate as of the date of death, and the obligations of the Company to or with respect to the Executive shall terminate in their entirety upon such date except as otherwise provided under this Section 4. If the Executive by virtue of ill health or other disability is unable to perform substantially and continuously the duties assigned to him for more than 180 consecutive or non-consecutive days out of any consecutive 12-month period, the Company shall have the right, to the extent permitted by law, to terminate the employment of the Executive upon notice in writing to the Executive. Upon termination of employment due to death or disability, upon termination of employment by the Company without Cause or upon termination of employment by the Executive for Good Reason, (i) the Executive (or the Executive’s estate or beneficiaries in the case of the death of the Executive) shall be entitled to receive any Annual Salary and other benefits earned and accrued under this Agreement prior to the date of termination (and reimbursement under this Agreement for expenses incurred prior to the date of termination); (ii) for a period of two years after termination of employment, the Executive (if applicable), and in the event of his death, his spouse and his dependents, shall receive such continuing coverage under the group health plans they would have received under this Agreement (but at such costs no higher than as in effect immediately preceding such termination) as would have applied in the absence of such termination, provided that, the Company shall in no event be required to provide any benefits otherwise required by this clause (ii) after such time as the Executive becomes entitled to receive benefits of the same type from another employer or recipient of the Executive’s services; (iii) without duplication of any amounts due under clause (i), the Executive shall receive an amount equal to the bonus that, in the absence of such termination, would have been payable for the bonus period (as described in Section 3.2) in which termination occurs, payable at such time as would have applied in the absence of such termination, with such amount to be multiplied by a fraction (x) the numerator of which is the number of days in such period preceding the termination and (y) the denominator of which is the number of days in such period; (iv) all outstanding unvested equity-based awards (including, without limitation, stock options and restricted stock) held by the Executive shall fully vest and become immediately exercisable, as applicable, and subject to the terms of such awards; and (v) except as specified in the following sentence, the Executive (or the Executive’s estate or beneficiaries in the case of the death of the Executive) shall have no further rights to any other compensation or benefits hereunder, or any other rights hereunder (but, f