Blakeney Professional Center - Building 18 Leasing Update

Charlotte, NC (March 2008)

The following leasing has taken place at Blakeney Professional Center, a Crosland project developed by Merrifield Partners:

Carolinas Physicians Network, Inc. has leased 6,862 square feet in Building 18. The location will be the site of Blakeney Family Medicine.

Oweida and Christian Orthopedics, LLC has leased 2,921 square feet in Building 18. David Ferguson with True View Commercial represented the Tenant.

George Macon of Merrifield Partners represented the landlord in both of the above transactions.

Blakeney Professional Center is a 30-acre commercial center located within the overall Blakeney project. Blakeney is the culmination of two decades of planning and will include 270 acres of single-family attached and detached homes, apartment homes, retail, commercial, and office development. This mixed-use development is located at the intersection of Rea and Ardrey Kell Roads just two miles from the I-485 Interchange. Forty-five acres have been preserved for greenways and wetlands along the Flat Branch Creek. A community green will be adjacent to the retail center. At completion, the retail center will offer around 500,000 square feet of space, with the first phase anchored by a Harris Teeter and Target. Blakeney Greens is the first neighborhood in the northeast part of the development with homes and town homes built by Saussy Burbank and Ryan Homes.

About Merrifield Partners

Merrifield Partners, an affiliate of Crosland, is one of the Charlotte area's leading office and industrial development and brokerage firms. Operating as Crosland Commercial for many years, Merrifield Partners has developed over 3,500 acres of land and 3.5 million square feet of commercial space. For more information, visit www.merrifieldpartners.com

About Crosland LLC

Founded in 1937, Crosland is one of the most prominent diversified real estate companies in the Southeast and is recognized as a leading community builder. Its expertise in retail, multifamily, office, land development and general contracting enables it to be an innovator in multi- and mixed-use development.

Headquartered in Charlotte, N.C., Crosland has offices in Raleigh, Orlando, Tampa and Nashville, and develops, builds and manages properties in the Carolinas, Florida, Kentucky, New Hampshire, Tennessee and Virginia. The privately held company has an asset portfolio and projects underway that have a market value exceeding $2.0 billion. For more detail, visit crosland.com.