DEVELOPER ACQUIRES LAND FOR NORTH CAROLINA RETAIL PROJECT

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CONCORD, N.C. — An undisclosed Safety Harbor, Fla.-based developer has acquired 90 acres in Concord, from Christenbury Farms, for $35 million. The site is located in southwest Cabarrus County, near Concord Mills Mall, and will be developed into a retail project. Site work is projected to begin in second quarter 2008. Anchors will include a home improvement retailer, grocery store and drug store. Brian Craver and David Hidell of Charlotte, N.C.-based Gallant Properties represented the buyer in the transaction.

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