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27th Floor
Charlotte, NC 28202

Recent News

FOR IMMEDIATE RELEASE
March 16, 2007

Mooresville Crossing Shopping Center Nearing Completion

Charlotte, NC — March 16, 2007 — Faison, along with its joint venture partners, Crossroads Realty Group and Signature Development, has announced that Mooresville Crossing Shopping Center is nearing completion.  Five national retailers have signed leases and will begin fixturing and stocking their stores in the next several weeks.  Best Buy (30,000 SF), Bed Bath & Beyond (28,000 SF), Old Navy (15,000 SF), Staples (20,300 SF) and Petco (15,000 SF) will open new stores beginning in May.  Faison is negotiating with a sixth specialty anchor that will join the others later this year.  In addition to these retailers, Chili’s and Red Robin are putting the finishing touches on their restaurants.  Steak n Shake and Panda are also close to completing their buildings.  Faison is working with a fifth restaurant that will occupy the last available outparcel along Hwy 150. 

Britt Byrne, Faison’s Managing Director of Retail Development said:  “We are excited about the Mooresville Crossing project; it brings together a group of very desirable and highly successful specialty retailers to a market that has been demanding the goods that these stores will deliver.  Mooresville is a growing market that has not had one-stop access to this quality and mix of restaurants and stores.”

When completed, Mooresville Crossing will be approximately 155,000 SF including 35,000 square feet of specialty shop space plus five outparcels.

Located on NC Hwy 150 and Williamson Road near I-77 Exit 36 in Mooresville, NC, the shopping center will serve an estimated 17,500 households with an average household income of $70,000.

Other Faison retail projects in the Carolina’s include:  South Square Shopping Center, Alexander Place Promenade and Alexander Place Crossing 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.

About Faison Enterprises

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 D.C., Charlotte NC, Charleston SC, Atlanta GA, Orlando and Delray Beach, FL. For more information, visit www.faison.com

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