Recent News
FOR IMMEDIATE RELEASE
August 23, 2007
Faison Announces the Sale of Mooresville Crossing
Mooresville Crossing - Mooresville, NC
Charlotte, NC — August 23, 2007 — Faison Enterprises is pleased to announce the sale of Mooresville Crossing, a premier retail center located in Mooresville, NC, to Kimco Realty Corporation. The sale closed on August 1, 2007 with the price set at $41,000,000.
David Lampke, Faison’s Managing Director of Acquisitions and Dispositions, represented the seller, and Edward Senenman of Kimco Realty Corporation represented the purchaser.
Mooresville Crossing, comprising 190,000 square feet, was constructed in 2006-2007 by Faison and is anchored by Best Buy, Bed Bath & Beyond, Old Navy, Staples, Petco, and Ulta. The property is located on NC Highway 150 and Williamson Road, near I-77, Exit 36.
Other recent Faison retail projects in the Carolinas include: Northlake Commons and SouthPark Mall redevelopment in Charlotte; Triangle Place Promenade and Alexander Place Promenade in Raleigh; South Square redevelopment in Durham; Aberdeen Commons in Aberdeen; and Myrtle Ridge Crossing in Myrtle Beach, SC.
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 $600 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 DC, Charlotte NC, Atlanta GA, and Orlando, FL. For more information, visit www.faison.com
Contact:
| Faison |
|
| Faison Acquisitions and Dispositions: |
David C. Lampke, (704) 972-2519 or david.lampke@faison.com |
| Media: |
Carol Lommerse, 704-972-2669 or carol.lommerse@faison.com |
| Web site address: |
www.faison.com |
| Source: |
Faison Acquisitions and Dispositions |
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