Local Appraisal Firm Purchases Building at Blakeney

Charlotte, NC, August 2, 2005- Patches & Tybo, LLC has purchased Building 12, totaling approximately 6,000 square feet, at Crosland’s Blakeney Professional Center (shell sales price $940,160). The location will be the site of Fred Beck and Associates, a locally based appraisal firm specializing in commercial valuations. George Macon of Merrifield Partners represented Crosland in this transaction.

Blakeney Professional Center is a 30-acre commercial center located within the overall Blakeney project. Blakeney is the culmination of two decades of planning and will include 270 acres of single-family attached and detached homes, apartment homes, retail, commercial, and office development. This mixed-use development is located at the intersection of Rea and Ardrey Kell Roads just two miles from the I-485 Interchange. Forty-five acres have been preserved for greenways and wetlands along the Flat Branch Creek. A community green will be adjacent to the retail center. At completion, the retail center will offer around 500,000 square feet of space, with the first phase anchored by a Harris Teeter and Target. Blakeney Greens is the first neighborhood in the northeast part of the development with homes and town homes built by Saussy Burbank and Ryan Homes.