Sale at Crosland's Caldwell Business Park

Charlotte, NC (September, 2005)

Hester 8, LLC has purchased a 4-acre parcel at Crosland's Caldwell Business Park (sales price $240,000). The site will be the location of a North Carolina State Bureau of Investigation field office.

Caldwell Business Park is a 50-acre mixed-use center developed by Crosland at Caldwell Road and NC 49 in Harrisburg, NC. Jon Jarrett of Merrifield Partners represented Crosland and Carson Martin of Percival McGuire represented the Buyer in this transaction.

About Merrifield Partners

Merrifield Partners, an affiliate of Crosland, is one of Charlotte's leading office and industrial development and brokerage firms. Operating as Crosland Commercial for many years, Merrifield Partners developed a portfolio of over 2,500 acres of land and 2.5 million square feet of commercial space. For more information, visit www.merrifieldpartners.com

About Crosland Inc.

Founded in 1937, Crosland is one of the Southeast's leading diversified real estate companies. 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, Tennessee and Virginia. The privately held company's current portfolio has a market value exceeding $1 billion. For more detail, visit crosland.com.