Crosland Broadens Triangle Presence with Midtown Commons

Raleigh, N.C., March 31, 2008 – Crosland LLC, one of the Triangle’s leading real estate companies, continues to broaden its retail presence in the region with the announcement of its newest retail center, Midtown Commons. Located at the intersection of Knightdale Boulevard and Hinton Oaks Boulevard in Knightdale, at the Highway 64/I-540 Interchange, Midtown Commons will include a number of well-known national tenants in the 225,000 square feet of retail space.

The new tenants that Crosland has signed are:

• Kohl’s- Based in Menomonee Falls, Wisconsin, Kohl’s is a family-focused, value-oriented specialty department store offering moderately priced, exclusive and national brand apparel, shoes, accessories, beauty and home products in an exciting shopping environment. By the end of April, Kohl’s will operate 958 stores in 47 states. Kohl’s purchased their seven-acre site in Midtown Commons. At 68,900 square feet, Kohl’s will be the largest anchor store.
• Best Buy- Best Buy is North America's number-one specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The 30,000 square foot space will offer consumers a broad assortment of consumer electronics, home-office products, software, appliances and related services.
• Dick’s Sporting Goods- Dick's Sporting Goods is an authentic, full-line sporting goods retailer offering a broad assortment of brand name sporting goods equipment, apparel and footwear in a specialty store environment. The Company operates more than 300 stores in 34 states primarily throughout the eastern half of the U.S and will occupy 45,495 square feet of retail space in Midtown Commons.
• T.J. Maxx- T.J. Maxx is the nation’s largest off-price retailer with over 800 stores nationwide. The 26,300 square foot store will offer amazing savings on brand name and designer fashions, shoes and accessories for the entire family and home at prices up to 60 percent below department and specialty store prices.

Crosland is expected to announce additional tenants in the months to come for the 15,000 square feet of shops available.

This thriving corner of Knightdale, surrounding the Highway 64/I-540 Interchange, is quickly becoming a major retail hub with more than one million square feet of planned retail development. Spanning 30 acres, Midtown Commons represents 225,000 square feet of retail space, along with a number of outparcels. When complete, the Center is expected to bring more than 350 jobs to the Knightdale area. Crosland plans to begin construction on Midtown Commons later this month with the first stores opening in November of this year.

"Crosland continues to view the Triangle as a strong growth market that fits our company's strategic expansion plans,” said James Downs, vice president of Crosland’s Retail Division. “From a retail perspective, we remain very focused on further expansion in the Triangle, as well as areas to the east including Greater Wilmington."

Crosland employs 75 people in the Raleigh-Durham market and currently has more than 1,400 multi-family units in the development pipeline, 750,000 square feet of retail space and six single-family communities that include 3,000 residential lots purchased or under contract. Crosland manages nine apartment communities in the Triangle area including Dobbins Hill, The Apartments at Meadowmont, Wakefield Glen, The Apartments at Oberlin Court, Regency Place, Litchford Park, North Forest, Weston Lakeside and Southpoint Village. For more, visit www.croslandraleigh.com.