65-acre site sold at Clear Creek Business Park

Charlotte, NC (October 2007)

The Charlotte-Mecklenburg Board of Education has purchased a 65-acre site at Clear Creek Business Park, a Crosland project developed by Merrifield Partners. The location will be the site of a CMS high school which will accommodate 2,500 students.

Clear Creek Business Park is a 350-acre business park located on Albemarle Road in Mint Hill, NC. Ken Chapman of Merrifield Partners represented the seller in this transaction.

About Merrifield Partners

Merrifield Partners, an affiliate of Crosland, is one of the Charlotte area's leading office and industrial development and brokerage firms. Operating as Crosland Commercial for many years, Merrifield Partners has developed over 3,500 acres of land and 3.5 million square feet of commercial space. For more information, visit www.merrifieldpartners.com

About Crosland LLC

Founded in 1937, Crosland is one of the most prominent diversified real estate companies in the Southeast and is recognized as a leading community builder. Its expertise in retail, multifamily, office, land development and general contracting enables it to be an innovator in multi-and mixed-use development.

Headquartered in Charlotte, N.C., Crosland has offices in Raleigh, Orlando, Tampa and Nashville, and develops, builds and manages properties in the Carolinas, Florida, Kentucky, New Hampshire, Tennessee and Virginia. The privately held company has an asset portfolio and projects underway that have a market value exceeding $2.0 billion. For more detail, visit www.crosland.com