Crosland Brings Gymboree, The Wine Shop to Foxcroft Village

Following May Opening of Brixx, Crosland Initiates $1 Million Shopping Center Revitalization

Charlotte, N.C., June 11, 2004 – Crosland Inc., one of the Southeast’s leading real estate companies, is revitalizing its Foxcroft Village shopping center off of Fairview Road in south Charlotte. The changes involve $1 million in physical improvements as well as new tenants.

The new tenants that Crosland has signed are:

• Gymboree Play & Music – Gymboree offers parent/child programs devoted to the physical, emotional and social development of children. Gymboree is relocating from Providence Square Shopping Center and will replace Kerr Drug in Foxcroft’s second-largest space at 3,800 square feet.
• The Wine Shop – Charlotte’s largest and most complete local wine shop will open its second location in the space formerly occupied by Sweet Alice’s restaurant. At 2,400 square feet, The Wine Shop will be Foxcroft’s fourth-largest tenant. The store claims Charlotte’s largest specialty retail selection of imported and domestic wines in all price categories, including more than 1,000 wines at under $12 a bottle.
• Brixx Wood-Fired Pizza – Announced last fall, this restaurant opened on May 19 for lunch and dinner. One of Charlotte’s most popular local establishments, Brixx is Foxcroft’s largest tenant. As with its original Dilworth location, the Foxcroft Brixx offers outdoor dining as well as comfortable booths, tables and bar seating indoors.

The three new tenants are part of Crosland’s larger initiative to renovate the entire shopping center. Construction begins in July on improvements that include:

• New courtyard breezeway. Located between Brixx and Gymboree, the additional breezeway will provide courtyard access to customers parking in the rear.
• Courtyard pathways and water feature. A fountain and paths will be added to create definition and guide pedestrians in the existing courtyard.
• New signage. The signs will maintain their understated appearance, appropriate for a residential area, yet will be easier to read by vehicular traffic.
• New storefronts. Windows will be more open, with less of a residential feel, to encourage window-shopping yet keep the center’s overall architecture intact.
• Cosmetic upgrades. Changes include complete repainting of all structures, upgraded lighting, new courtyard furniture and additional landscaping enhancements.

Susan McGuire, senior vice president of Crosland’s retail division, said the improvements reflect Crosland’s belief in the shopping center’s long-term value.

“Crosland is improving Foxcroft Village’s sense of place by making subtle yet tangible upgrades throughout the center, and by recruiting high-quality tenants who will earn a loyal following from the surrounding neighborhoods,” McGuire said. “Making Foxcroft Village more inviting and pedestrian-friendly encourages customers to browse and linger. That kind of investment is what attracts – and keeps – tenants of this caliber.”

Construction work on the new Gymboree began at the end of May. Franchise owner Ashley Joseph agreed the family-oriented location and tenant mix were what prompted her to relocate.

“Gymboree appeals to moms who not only want to interact with their children, but who enjoy the social nature of what we offer,” said Joseph. “Mothers will get to know one another and go to Brixx for lunch after class, or enjoy ice cream at Ben & Jerry’s. Also, this building is perfect for classes, with a big area that has an open loft feel and exposed rafters. I couldn’t ask for a better fit.”

The Wine Shop will include a retail store with a tasting bar. The interior upfit, being handled by R.T. Dooley, is expected to begin shortly.

“We need a south Charlotte presence for loyal customers who moved further south and don’t want to fight their way into Dilworth,” said Wine Shop owner Frank Redd Jr. “I’ve had my eye on Foxcroft Village for a while and jumped at the chance to get in. The demographics are great without paying South Park rent. Since we’re away from the mall, people can get in and out quickly, which is important to our customers on the way home for dinner.”

Foxcroft Village is located on Fairview Road between Colony and Carmel roads. Existing tenants of the 27,000-square-foot retail center include Barrington’s, Ben & Jerry’s, Blockbuster Video and Caribou Coffee. The overall renovation is being handled by Roper Construction and is expected to take three months.

FOR MORE INFORMATION CONTACT:
Susan McGuire, Crosland, 704.561.5256, smcguire@crosland.com
Bill Norton, Corder Philips Wilson, 704.378.2106, bnorton@cpwadv.com