Charlotte, NC —April 27, 2006— Faison is pleased to announce the sale of Aberdeen Commons Shopping Center, to Aberdeen Commons, LLC, a Pinehurst, NC investor. The sale closed on April 17, 2006 with the price set at $21.6 million. David Lampke, Faison’s Managing Director of Acquisitions and Dispositions, represented the seller.
Aberdeen Commons is a redevelopment of a former K-Mart center. The new 123,000 square foot retail center was constructed in 2004 - 2005 by Faison and is anchored by Best Buy, Bed Bath & Beyond, Ross Dress for Less, and PETsMART. Specialty tenants include Rack Room Shoes, Panera Bread, Kirkland’s, Coldstone Creamery, and Moe’s Southwest Grill. The property is located at NC Hwy 15/501 and US 1 in Aberdeen (Moore County), NC.
Other Faison retail projects in the Carolina’s include: South Square and Alexander Place Promenade in the Raleigh/Durham area, Northlake Commons, and Amity Gardens in Charlotte and Mooresville Crossing in Mooresville, 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.
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.
