121 West Trade Street
27th Floor
Charlotte, NC 28202

FOR IMMEDIATE RELEASE
November 20, 2008

Stone House Square - Hagerstown, MD

Faison Announces Sale of Stone House Square Shopping Center, Hagerstown, MD

Charlotte, NC — November 20, 2008 — Faison is pleased to announce the sale of Stone House Square, a 250,000 square foot community shopping center located at the intersection of MD Route 60, Eastern Boulevard and Northern Avenue in Hagerstown, Maryland. 

The shopping center was developed by Faison’s Bethesda, Maryland office and purchased by The Oekos Group of Companies (“Oekos”), who was represented by H&R Retail. David Lampke, Faison’s Managing Director of Acquisitions and Dispositions represented the seller.

Stone House Square is anchored by Weis Supermarkets and shadow-anchored by a Lowe’s Home Improvement store.  The roughly 90% occupied center also is leased to prominent national and regional tenants such as Chevy Chase Bank, Bruce Carson Jewelers, Camillions, Moe’s Southwest Grill, Greene Turtle and Friendly’s restaurants.  Additionally, Faison restored and redeveloped the historic farmhouse on this site, creatively tenanting the renovated structure with a two-story Starbucks as depicted in the accompanying photograph.

Other Faison retail projects in the Washington metro market include: Waldorf Marketplace, Waldorf MD; South Plaza and First Colony Shopping Center, Lexington Park MD; Dunkirk Town Center, Dunkirk MD; Rosewick Crossing, La Plata MD; Brandywine Crossing, Brandywine MD; and Fairwood Green, Glenn Dale MD.

About Faison

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 South and Mid-Atlantic and maintains regional offices in Bethesda MD, Washington DC, Charlotte NC, Atlanta GA, and Orlando FL. For more information please visit www.faison.com.

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