Crosland Retail Plans New Center in SouthPark Area

Charlotte, NC, August 3, 2000 - Crosland Retail, a division of The Crosland Group, Inc., is developing the 75,000-square-foot Park Selwyn Terrace at 5122 Park Road across from the Selwyn Avenue intersection.

"We think the new center is going to appeal to specialty retailers who might want to be in Sharon Corners, SouthPark mall or Phillips Place but haven't been able to find space. This is an opportunity to be close to SouthPark," said Wade Robinson, vice president of Crosland Retail.

Park Selwyn Terrace offers strong demographics to retailers and small businesses considering space in the SouthPark area: approximately 49,700 vehicles pass the site each day; 84,000 people live within three miles of the site; and the area's average annual household income is approximately $83,000.

The center's façade will resemble that of Sharon Corners, Crosland's 105,591-square-foot retail center at the corner of Sharon and Fairview Roads. It will be constructed mainly of brick, slate and stucco. Crosland Retail already has signed Harris Teeter Express as the center's anchor tenant in a 20,000-square-foot, single-story building fronting the property on Park Road. Other tenants will be able to rent spaces varying from 870 to 6,700 square feet in four additional buildings on the site.

Park Selwyn Terrace will be ready for occupation in spring or summer 2001. For more information on leasing, contact Ryan Preston by telephone at (704) 523-0272 or by email at rpreston@crosland.com.