SC FIRM PARTNERS WITH CFC

Mar 1, 2010

Wilmington, N.C. – March 1st, 2010 – Ziff Properties, a Charleston, SC based commercial real estate investment firm, has partnered with Wilmington based Cape Fear Commercial, LLC on their Wilmington portfolio that contains over 800,000 square feet. That partnership has Cape Fear Commercial handling the leasing of three high profile real estate holdings of Ziff, The Murchison Building on Front Street, The Village at Myrtle Grove in Monkey Junction and Smith Creek Center, one of Wilmington’s largest Industrial facilities. “We have had an eye on Ziff’s holdings for years and are very excited to work with them,” stated Brian Eckel, partner of Cape Fear Commercial.

The Murchison Building, located in the heart of Wilmington’s Central Business District, was constructed in 1914. Cape Fear Commercial saw instant activity in their first couple of weeks of handling the assignment. “We have showed the building over a half dozen times and were fortunate to sign our first lease last week,” stated Caroline Williams of Cape Fear Commercial who is heading up the leasing team at the Murchison Building. “It’s such a cool historic building with phenomenal views of the river; it’s truly a fun project to be able to work on. We have a lot of ideas on ways to add value to this building and look forward to putting those ideas to work.”

The Village at Myrtle Grove shopping center, located in Monkey Junction, was recently redeveloped by Ziff and is anchored by Home Depot. “We have Big Box, Junior Box and small retail shop space available,” stated Bryan Greene, senior vice president with Cape Fear Commercial. “There is a lot of opportunity here and we plan to make an aggressive push with this center to raise occupancy.”

The third property assigned to Cape Fear Commercial is the Smith Creek Center. With over 475,000 square feet it is a massive building that is strategically located at the corner of Castle Hayne Road and Martin Luther King Parkway. “This has been a great investment for us,” stated Tim Norton, the director of leasing with Ziff. “We have been very impressed with the Cape Fear team; they have an exceptional skill set in this business and have the high energy that we need handling our Wilmington portfolio.”

About Cape Fear Commercial

Cape Fear Commercial is a full service commercial real estate advisory firm based in Wilmington, North Carolina, offering brokerage, property management and development services. For more information on Cape Fear Commercial, visit them online at www.capefearcommercial.com.