Crosland’s Oberlin Court Welcomes New Retail Tenants and Phase II Residents

Raleigh, N.C., July 22, 2008 – Crosland LLC, one of the Triangle’s leading real estate companies, has recently signed its first three tenants in The Shoppes at Oberlin Court and launched phase II apartment leasing. Completed in July, The Shoppes atOberlin Court offer 30,418 square feet of street front retail, anchored by the 370 luxury apartment units of Oberlin Court.

The new tenants that Crosland has signed are:

• Oberlin Cleaners - Occupying 735 square feet and opening early August, Oberlin Cleaners will offer quality dry cleaning and tailoring services.
• Rita’s Ice - This 1,511-square-foot store, to open in August, will serve frozen custard, smoothies, Italian water ice and other related frozen desserts and treats made fresh daily. Rita’s Ice has more than 30 different flavors and is the largest Italian Ice chain in the nation with over 500 stores open across the nation.
• Tropical Smoothie Café - Tropical Smoothie Café, a global franchise company, will sell smoothies, deli style sandwiches consisting of Boar’s Head brand meats, wraps, salads, soups, nutritional supplements and brewed coffee. This 1,460-square-foot store, scheduled to open in September, will also offer catering services.

Phase II of Oberlin Court includes the addition of 30,418 square feet of retail shops and 105 luxury residential units now ready for occupancy and are already 30 percent leased. These smoke- and pet-free phase II units will have interior heated and carpeted corridors and be served from a second project parking deck. A guest lobby will be located on the retail street with elevator access to all floors. A private outdoor resident rooftop terrace will overlook the retail shops with an outdoor grilling station. A second resident amenity room offers additional pool tables, gourmet kitchen, sitting area, and flexible resident function room. The courtyard in phase II also features a koi pond.

The upscale Oberlin Court development is located inside the beltline at the intersection of Wade Avenue and Oberlin Road and is within walking distance of Cameron Village, the YMCA, Jaycee Park, Rose Garden Park, and Fred Fletcher Park. The first phase, completed in 2005, consisted of 265 luxury apartments, a central courtyard pool and garden, and a 4,000-square-foot resident clubhouse.

Crosland employs 85 people in the Raleigh-Durham market and currently has more than 1,400 multi-family units in the development pipeline, 750,000 square feet of retail space, and six single-family communities that include 3,000 residential lots purchased or under contract. Crosland manages nine apartment communities in the Triangle area including Dobbins Hill, The Apartments at Meadowmont, Wakefield Glen, The Apartments at Oberlin Court, Regency Place, Litchford Park, North Forest, Weston Lakeside and Southpoint Village. For more, visit www.oberlincourt.com.