Madison Marquette Acquires Ownership Stake in Morrison Mixed-Use Project in Charlotte North Carolina

Assumes Leasing and Management of Over 130,000 SF of Retail

CHARLOTTE, N.C. (July 20, 2010) – Madison Marquette announced today that the company has acquired an ownership stake in the Morrison mixed-use project in the SouthPark area of Charlotte, North Carolina. The acquisition was made as part of the Madison Marquette Retail Enhancement Fund.

“Morrison is an extremely well-situated project in terms of both its residential and retail offerings and we are very pleased to have the opportunity to increase the property’s performance,” said Merle Brann, Director of Investments of Madison Marquette. The company’s partner is Sarasota, Florida-based Casto Lifestyle Properties (www.CastoLP.com ). Morrison was built by Casto in partnership with Charlotte-based Grubb Properties (www.grubbproperties.com ).

The retail portion of Morrison is anchored by Earth Fare Organic Grocer and Barnes & Noble and includes a wide array of local boutiques, restaurants and national specialty retailers. Approximately 6,500 square feet of space is available for lease.

“Morrison benefits from its location near SouthPark Mall and within the SouthPark community which is one of the Charlotte metropolitan area’s most affluent areas,” said Denise Browning, Senior Vice President of Leasing of Madison Marquette. The company’s regional headquarters is located within of a mile of Morrison and the local leasing team has an in-depth understanding of the market.

The residential component of Morrison includes 214 apartment units and 121 condominiums, 20 of which remain available for sale. Morrison opened its first phase in 2006.

“Our goal is to create signature events and programming that enhances Morrison’s sense of place and brings in more people to shop, dine and live,” said Mr. Brann.

Madison Marquette also owns Monroe Crossing in nearby Monroe, North Carolina as well as University Mall in Chapel Hill, North Carolina.

“North Carolina has a resilient economic base and we continue to see strong demand among retailers looking to enter and expand throughout the state,” said Ms. Browning.

About Madison Marquette
Madison Marquette is a Washington, D.C.-based investor, developer and operator of retail and retail mixed-use real estate throughout the United States. The company specializes in creating unique retail destinations that respond best to consumer preferences. With regional offices in Fort Lauderdale, Philadelphia, New York, Charlotte, San Francisco, Los Angeles, Seattle and San Diego, Madison Marquette seeks investment opportunities in growing markets. The company maintains a sophisticated in-house operating capability and oversees 18 million square feet of retail real estate. This diverse national portfolio includes many properties that Madison Marquette manages and leases on behalf of third-party owners. For more information about the company, please visit http://www.madisonmarquette.com .