Recent News
FOR IMMEDIATE RELEASE
June 15, 2006
Faison & Associates, LLC Announces Sale of ArrowPoint Office Park in Charlotte, NC
 ArrowPoint — Charlotte, NC
CHARLOTTE, N.C. — June 15, 2006 – Faison and Associates, LLC today announced the sale of ArrowPoint I, II and III, the ArrowPoint Child Development Center, and approximately 12 acres of development land in ArrowPoint Office Park in Charlotte, NC for $21.05 million. The seller was ArrowPoint Associates Limited Partnership, an affiliate of Faison & Associates, and the purchaser was Beacon ArrowPoint, LLC, a venture of Beacon Partners of Charlotte, NC and Buchanan Street Partners, LLC of Newport Beach, CA.
ArrowPoint Office Park is located on Arrowood Road, just west of the Arrowood/I-77 interchange. Faison developed the site between 1985 and 1990; the size of the three office multi-tenant buildings and the day care facility totals 240,337 square feet. Royal and SunAlliance, New Horizons Learning Center, Amdocs, Inc., Hendrick Construction and Bell South Advertising are among the tenants in the buildings; MicroSoft and Royal and SunAlliance each have a significant presence elsewhere in ArrowPoint Office Park. ArrowPoint is a landmark commonly identified by the 32 flagpoles that flank the Arrowood Road entrance and fly the American flag. Faison retains an additional 65 acres for future sale and development.
“This sale presented the opportunity to monetize a series of projects that have been underway for nearly 20 years,” said Philip W. Norwood, CEO of Faison. “It will allow us to reinvest in the development land that remains at ArrowPoint and continue our history of successful development in this much sought after location.”
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 $500 million of new projects under development, the Charlotte NC based company manages and develops properties throughout the South and Mid-Atlantic 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.
About Beacon Partners
Beacon Partners is a Charlotte- based real estate development and investment firm focusing on office and industrial properties in the Carolinas. The firm also provides leasing, property management, accounting, financial services and construction management services for its own properties and for third party owners. Since its founding in 1989, Beacon Partners has developed or acquired over six million square feet. For further information, contact Chip Stanley, Director of Acquisitions at 704-926-1402 or visit Beacon’s website www.beacondevelopment.com.
About Buchanan Street Partners
Buchanan Street Partners is a real estate investment bank that provides real estate capital for owners and developers, and has closed more than $10.5 billion in real estate transactions since its inception, including $550 million in the first quarter of 2006. The firm makes principal equity investments for real estate in a discretionary capacity, arranges debt and structured finance, is an investment manager to institutional and private investors, offers investment sale brokerage services, and has a specialty in self-storage finance. Buchanan Street Partners operates from offices in Newport Beach, Los Angeles, San Francisco, Chicago and Atlanta.
MEDIA CONTACT- FAISON: Philip Norwood at 704-972-2505
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