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FOR IMMEDIATE RELEASE
May 16, 2006

Leasing Underway at Mooresville Crossing Shopping Center

Mooresville Crossing Shopping Center - Mooresville, NC

Charlotte, NC — May 16, 2006 — Joint venture partners Faison, Crossroads Realty Group, and Signature Development have announced that leasing is well underway at Mooresville Crossing Shopping Center. To date three national retailers have agreed to come on board:  Best Buy (±30,000), Bed Bath & Beyond (±28,000), and Old Navy (±15,000).  At this time 70% of the total leasable retail area at the new shopping center has been leased.  Comprised of approximately 125,000 square feet of anchor space, 35,000 square feet of specialty shop space and 5 outparcels, construction on Mooresville Crossing is expected to be complete in Spring 2007, with the anchors opening in Summer 2007.

Located on NC Hwy 150 and Williamson Road, near I-77 Exit 36, in Mooresville, NC, the shopping center will serve an estimated 16,433 households with an average household income of $68,000.

Other Faison retail projects in the Carolina’s include:  South Square Shopping Center and Alexander Place Promenade in the Raleigh/Durham area, Northlake Commons Shopping Center, and Amity Gardens in Charlotte and Aberdeen Commons Shopping Center in Aberdeen, NC. Faison’s current roster of residential developments in the Carolinas includes:  Village Manor at Ayrsley and 800 Hawthorne in Charlotte and Fenwick in Charleston, SC.

Retailers and businesses interested in learning more about leasing opportunities should contact Britt Byrne at 704-972-2639 or Thurman Brooks at 704-972-2625.

Faison Enterprises, Inc. is a privately-held development 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 billion, including $500 million of new projects under development, the Charlotte NC based company manages and develops properties throughout the Mid-Atlantic and South and maintains regional offices in Bethesda MD, Washington D.C., Charlotte NC, Charleston SC, Atlanta GA, Orlando and Delray Beach, FL. For more information, visit www.faison.com

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