Three National Retailers Join Crosland’s Shops at Greenridge

Greenville, S.C., Oct. 19, 2004 – Crosland Inc., one of the Southeast’s leading, diversified real estate companies, has executed leases with three more national retailers for The Shops at Greenridge, a 600,000-square-foot regional center the company is developing at the intersection of I-85, I-385 and Woodruff Road in Greenville. Off Broadway Shoe Warehouse, OfficeMax and Ross Stores plan to open at The Shops at Greenridge in the fall of 2005. The new anchor tenants join previously signed stores Barnes & Noble, Best Buy, Dick’s Sporting Goods, Lowe’s and Total Wine & More.

When the regional center was announced last year, Crosland promised to draw new retailers to Greenville. Not only are Dick’s Sporting Goods and Total Wine & More new to the city, but this is the first Off Broadway in South Carolina.

Showcasing up to 50,000 pairs of designer footwear for men and women at discount prices, Off Broadway Shoe Warehouse offers the latest in-season shoes, including everyday, professional and formal-wear styles, in addition to featuring an assortment of stylish handbags. Construction begins this winter on the 20,000-square-foot store, which will reflect the company's new design prototype that provides more open space with the use of wider aisles and additional windows. Off Broadway will be located next to Total Wine & More.

"Our entry into South Carolina is instrumental for our expansion plans in the Southeast" said Don Cook, Off Broadway’s director of sales. "Greenville’s growing market and its proximity to some of our other stores in Atlanta and Charlotte make it an ideal fit."

OfficeMax will occupy approximately 20,000 square feet and will offer a range of retail and business-to-business office products, including technology products and solutions, as well as furniture for large to small-sized businesses and consumers. The company recently launched a redesigned e-commerce business-to-busines site, providing more convenient online shopping for its 600,000 contracted customers. Following last year’s merger with Boise Office Solutions, a multinational distributor of office supplies and paper, OfficeMax now has more than 1,000 retail stores throughout North America.

Construction will begin this fall on the 30,000-square-foot Ross Store, which is the second location for Greenville and the first Ross serving the south and east areas of the city. As the second largest off-price retailer in the country, Ross features in-season, name-brand apparel, accessories and footwear for the entire family at a savings up to 60 percent off department- and specialty-store prices. In addition to offering an assortment of changing designer fashions, Ross features a variety of items for the home, including bed and bath accessories, décor products and gifts.

About The Shops at Greenridge

The Shops at Greenridge is a $64 million joint venture between Crosland and Core Properties. Crosland is the lead developer for the project, with Core Properties managing outparcel sales. The land was previously owned by the late John D. Hollingsworth. Funds from the purchase have gone to Hollingsworth Funds Inc., a charitable organization that provides funding for various Greenville charitable entities. Chris Grenier with Crosland is serving as the development manager for The Shops at Greenridge, which is the company’s first retail center in the Greenville area. Crosland is using two contractors – Myers & Chapman and Shelco – to help expedite and coordinate the opening of the anchor stores. LS3P is the project architect, with Freeland & Kauffman Inc. serving as the civil engineers. Bank of America is the lender. Frank Halter, owner and principal of Coldwell Banker Caine Commercial, served as the broker for the land and provides services for Hollingsworth Funds. He assisted Crosland and Core Properties on the rezoning of the land and annexation of the property into the city of Greenville.

FOR MORE INFORMATION CONTACT: Elizabeth Bennett, Corder Philips Wilson, 704.378.2118, ebennett@cpwadv.com or Charles Thrift, Crosland, 704.561.5222 (o)