Archived News

FOR IMMEDIATE RELEASE

Faison Re-opens South Square in Durham, NC

Durham, NC - February 15, 2005 - Faison's Carolinas Retail Development department is pleased to announce the re-opening of South Square, a 450,000 square-foot shopping center anchored by Target, Sam's Club, Ross Dress for Less, Office Depot and Petco.

Faison completely redesigned and redeveloped its former South Square Mall site and has attracted new and vibrant anchor tenants into the market. "The transformation of this property from an out-of-date mall to a regional open air center was a complex task which will catalyze redevelopment in the surrounding area," said Jensie Teague, Senior Managing Director of Faison. A rejuvenated South Square is located midway between Chapel Hill and Durham on Highway 15/501, near its intersection with I-40 and is one of the most convenient retail destinations in the entire Triangle area. Additional shops and out parcels in Phase II are now under construction.

Faison Enterprises, Inc. is a privately-held real estate and investment company with a diversified product portfolio that includes retail, commercial and residential project development, management and acquisitions services. With more than 40 years in the business and holdings of approximately $1.3 billion, the Charlotte N.C. based company manages and develops properties throughout the South and Mid-Atlantic and maintains regional offices in Bethesda MD, Washington DC, Charlotte NC, Atlanta GA, Orlando and Delray Beach FL. For more information, visit www.faison.com.

For information: http://www.faison.com or
Contact: carol.lommerse@faison.com
Phone: 704-972-2500

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