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 , GA DALLAS, TX • Centennial Park District established downtown • Sale of Bank of America Plaza falls through • The revitalization of 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 • 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 • 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]