Crosland Signs Lease with Food Lion for New Store at Cheshire Place

Crosland, one of the Southeast's leading, diversified, privately-held real estate companies, signed a new lease with Food Lion calling for the relocation of the present 29,000 sq. ft. store at Cheshire Place to a new 38,000 sq. ft. store that will be located adjacent to the existing shopping center.

The new store is scheduled for completion mid-November 2003 and it will place Food Lion in a position fronting the new Sugar Creek Road realignment that occurred in 2002. Excavation for the new Food Lion store is scheduled to begin the first week of March and construction of the building will ensue May 1.

"Crosland was pleased to be able to accommodate Food Lion's wishes and position their store at the new intersection established by the road realignments at W.T. Harris," stated Garland Hughes, director of leasing in Crosland's retail division. "It also enabled them to gain the increased space they desired while maintaining the ability to serve their existing clientele.

Crosland launched the 54,840 sq. ft. Cheshire Place Shopping Center in 1990. It is built on approximately 9.5 acres along W.T. Harris Boulevard and serves the growing population residing along this popular north Charlotte corridor.

About Food Lion

Food Lion LLC, is a subsidiary of Delhaize America, the U.S. division of Brussels-based Delhaize Group (NYSE: DEG). Food Lion operates more than 1,185 stores and employs 84,000 associates, delivering "Extra Low Prices" and service to its customers in 11 Southeast and Mid-Atlantic states. Food Lion stores offer more than 24,000 different products.