Whitehall Commons Expands With Additional Retail Space

Charlotte, N.C., June 11, 2002 - Crosland, one of the Southeast’s leading, diversified, privately-held real estate companies, has rezoned 85,000 additional square feet for retail use in the 700-acre mixed-use community of Whitehall located on N.C. 49 off Interstate 485 in southwest Charlotte.

The additional 85,000 square feet of retail, dining and service space will be located in three multi-tenant buildings that front I-485 and Arrowood Boulevard. This will bring the total retail square footage of Whitehall Commons to 585,000. Occupying this space will be a variety of national, regional and local retailers and restaurants.

“We have been very sensitive to the needs of the community while planning this expansion,” states Charles Thrift, leasing associate in Crosland’s retail division. “We are pursuing retailers for Whitehall Commons that will meet the demands of this changing sub-market. The high level of daytime traffic proves that this center will be a focal point of the community, and the rapidly expanding residential base has ever increasing needs.”

Crosland launched the $500-million, multi-phase Whitehall development in 1992 as a 15-year project. Already in place are 250 single-family homes; the Whitehall Technology Park, with tenants like Sprint, General Electric Company and Cadmus Communications; Whitehall Executive Center, where Time Warner Cable is located; and 250 apartment homes known as Whitehall Estates.

“This sub-market is one of the fastest growing in the city,” says Peter B. Pappas, a senior vice president with Crosland’s retail division. “The tenant mix and location will make this development a shopping destination for southwest Charlotte.”

The development also incorporates two hotel sites, appealing green spaces, and several man-made lakes. Whitehall Commons currently hosts 500,000 square feet of retail space including Lowe’s Home Improvement Warehouse and other popular local and regional retailers, which are already open. Construction on the Wal-Mart SuperCenter, Charlotte’s first, has begun with an August 2002 opening date.