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CUSHMAN & WAKEFIELD / MULTIFAMILY ADVISORY GROUP SUNBELT MARKET INSIGHT FEBRUARY 1, 2020 BI-MONTHLY MONITOR The Sunbelt region features a dynamic multifamily landscape and fast-moving economies. The Cushman & Wakefield Multifamily Research Team is pleased to curate the most relevant news articles twice a month in order to help our clients keep abreast of key movements in their markets. Please click on the links below to access the articles. GEORGIA TEXAS ATLANTA, GA DALLAS, TX • Centennial Park District established downtown • Sale of Bank of America Plaza falls through • The revitalization of Buckhead Plaza • 1.1M-sf of warehouse space coming to Fort Worth • How affordable housing crisis is affecting Atlanta • Deep Ellum stakeholders talk incoming office projects • Amazon to open 500-job Newnan facility • Construction tech firm talks Texas expansion • $65M sale reflects a revitalizing Cheshire Bridge • Local partnership plans tallest office tower in Uptown • Developer reduces size of proposed Tucker project • Downtown’s Bryan Tower is now for sale • West End Mall pitched as model for OZ development • VanTrust to break ground on next Frisco office • Skanska, HJ Russell to partner on outpatient center • Ground breaks on Deep Ellum’s next office tower • West Midtown project sells; Transwestern’s expansion • Renovations coming to Addison shopping center • Johns Creek shopping centers plan expansions AUSTIN, TX • West Midtown boom catalyst sells for $80M • Why Saltillo could become a transit hub in East Austin • $50M office building in Alpharetta gets started • Medical Innovation District would generate 2,800 jobs • Eastside Trail apartments sell for +$60M • ABJ to highlight Austin’s future with Austin 2040 • Plymouth Industrial REIT buys more GA buildings • Austin asks UT to extend lease for Muny golf course • 16-story tower to reshape Atlanta’s SoNo neighborhood • Atari-themed hotel pegged for Austin, other cities • Developers circle College Park Airport City project • Cedar Park incentives proposed for brewery, HQ AUGUSTA, GA • Pflugerville paves way for Amazon distribution facility • Upscale apartments coming to ‘Connell’s corner’ • Public market in South Austin to open this year • Riverfront amphitheater taking shape in Augusta • 400-unit, mixed-use development eyed in St. Elmo • Austin plans for massive Amazon distribution facility COLUMBUS, GA • VA selects north Columbus site for new clinic HOUSTON, TX • Hotel to offer rooftop views of uptown Columbus • Plastics distributor to break ground on expansion • Packaging co. opens Conroe facility with room to grow SAVANNAH, GA • Downtown the bright spot of Houston’s office market • Savannah Convention Center on track for groundbreaking • Redevelopment of former Exxon Mobil site underway MACON, GA • Historic office debuts as hotel in Texas Medical Center • City makes decision on downtown buildings, old Kroger • City approves millions to build new community center • TechnipFMC puts 400,000-SF property on the market TENNESSEE SAN ANTONIO, TX NASHVILLE, TN • S.A. apartments sold in record-breaking $1.9B deal • Dallas developer aims for new tower in Green Hills • SwRI buys 260 acres near West Side campus • Developer buys Nashville riverfront slaughterhouse • Microsoft building massive expansion on West Side • Developer tees up hotel for Midtown’s ‘Rock Block’ • When $62M Broadway tower will break ground • New life for grocery store; $55M project near BNA • Surge of new hotels didn’t spook downtown buyers NORTH CAROLINA • Next to Broadwest, skyscraper hits the drawing board CHARLOTTE, NC • Amazon bringing 1,000 more jobs to Tennessee • Local snack food company talks expansion plans • IDI plans two more spec buildings in DeSoto • Ballantyne hospital among approved development projects • Plans for two big developments emerge in the Gulch • Proposed mixed-use project in draws concern • Office, apartments teed up for $400M development • Adaptive-reuse project facing environmental challenge • Live Nation cements expansion to major new project • North Tryon development set to break ground • Newcomer pounces on Antioch’s growth, project lines up • Midtown site now eyed for mixed-use project MEMPHIS, TN • GM to open new R&D facility in Concord • Atlanta firm buys on Lamar, plans significant renovation • Developer to add apartments, retail space in South End • Investor to add another anchor to the Edge District • Belmont textile mill redevelopment set to break ground • $270M Collierville development is finally underway PIEDMONT TRIAD, NC • Medical District apartments in line for $18M overhaul • Car dealer adds $4.2M facility in order to separate brands • AutoZone preps expansion with multimillion-dollar permit • Former rival leases vacant Babies “R” Us location in Triad • $1.2M permit pulled for engineering firm’s HQ move • DeJoy’s company wins bidding for Edgeworth Building CHATTANOOGA, TN • Triad shopping center sold again -- for $38M • Volkswagen innovation hub to aid TN operations • $30M secured for downtown High Point project • Greensboro portfolio sells for $193M, $40M to come KNOXVILLE, TN • Manufacturing facility to invest $8M in expansion, 25 jobs • Volkswagen, UT, and ORNL announce partnership RESEARCH TRIANGLE, NC ALABAMA • Developer picked for $140M 1M-SF Triangle project BIRMINGHAM, AL • Eli Lilly plans 460 jobs, $470M plant in Durham • Massive retail, multifamily development planned for suburb • GreenLight opens new location at RTP • Developer bringing micro-unit housing to Rotary Trail • Raleigh to pick developer for hotel, mixed-use tower • CRE firm makes another multifamily play in Bham market • Merritt Properties enters Durham with 50-acre project • Investors add to sale activity near Amazon facility • Developer preps hundreds of apartments, dining space • Developer eyes office warehouse project in Bessemer • Lidl grocery store coming to Cary shopping center • Investor snags Birmingham apartment for $9.4M • 500K-SF Triangle business park trades for $59M • New brand unveiled for Bham’s innovation district • UAB to demolish former Alagasco facility LOUISIANA • Manufacturer buys industrial property in Bessemer NEW ORLEANS, LA • Construction underway on new luxury hotel • Airport Dimensions opens new lounge at airport • SBP to begin work on rentals in Lower Ninth Ward HUNTSVILLE, AL • New large mixed-use project planned for Huntsville BATON ROUGE, LA • Madison County moves to meet continued growth • Medical marijuana company scouts Baton Rouge • Amazon may locate warehouse in South Baton Rouge MOBILE, AL • Baldwin County apartment sells for $22.5M SOUTH CAROLINA MONTGOMERY, AL GREENVILLE, SC • Eastdale Mall sells for $24M to Namdar Realty Group • 150 new distribution jobs coming to Duncan • Materials Sciences expands in Greenville KENTUCKY • Refresco expands in Greer, 25 new jobs LOUISVILLE, KY CHARLESTON, SC • Packaging Technology Group plans new 40-job plant • One80 Place seeks approval of new multi-use building • Developer shows off major downtown renovation • Noble acquires Hilton Garden Inn in Charleston • First look at downtown Louisville’s ‘Whiskey Alley’ • Committee to present Charleston affordable housing plan • What’s next for Urban Government Center redevelopment • Hermitage Farm sets opening date for tourism experience COLUMBIA, SC • Prominent East End shopping center to expand • Hilton opens hotel in Columbia • Weyland Ventures plots hotel, eatery for Highlands site • Local ecommerce retailer plans expansion ARKANSAS LEXINGTON, KY LITTLE ROCK, AR • 100 distribution jobs headed to Montgomery County • Arkansas manufacturing keeping strong economically FAYETTEVILLE, AR MISSISSIPPI • $40M plan to stitch together Delta trail GULFPORT-BILOXI, MS • Infill development, attainable housing focus of Fayetteville • Mississippi cities to Mobile: commit to Amtrak’s return JACKSON, MS FLORIDA • Big bucks are being invested in metro Jackson PENSACOLA, FL • Port of Pensacola has busy 2020 in store MARTHA KIFLE Senior Research Analyst +1 470 344 1434 [email protected].