Texas

New Park for Southwest Dallas An abandoned hilltop quarry in economically challenged Southwest Dallas is to be transformed into a state-of-the-art office and warehouse development. The estimated $225 million, 900-acre Pinnacle Park development is expected to create about 6,000 jobs in an area of Dallas that has needed a shot-in-the-arm. The site is located on Interstate 30 and Loop 12 and features a panoramic view of downtown Dallas.

North Carolina
Hickory, N.C. Development Proposed

A Winston-Salem developer is planning a 90-acre business and industrial park in Hickory that could represent a $180 million investment and one million square feet. The unnamed development could include space for a university satellite center dedicated to telecommunications training.

Tennessee
Duke-Weeks Developing 178-Acre Industrial Park

Duke-Weeks Realty Corp. will develop a 178-acre tract east of Nashville International Airport into a mixed-use industrial park with 1.5 million square feet of space. The development, to be called Airpark East, is near the path of the proposed Harding Place extension and is next to the planned Couchville Pike interchange. The development will include a service center, office/distribution and bulk distribution space. It is near Duke Weeks' 1.2 million square foot Airpark development, which is south of the airport.

Mississippi
Technicolor Doubles Size in Memphis, Spurs Development of More Spec Space

Technicolor is more than doubling its Memphis presence by leasing a new 650,000 square foot warehouse in Southeast memphis to support activity from a newly acquired account. Camarillo, California-based Technicolor is taking an entire building at Sacramento, California-based Panattoni Development Company's SouthPoint distribution center. The leasing of the large space has spurred Panattoni to add more speculative space to the market at its recently acquired Memphis Oaks Distribution Center. Panattoni will begin construction on a 650,000 square foot first phase of a 900,000 square foot building at the Memphis Oaks Distribution Center this spring. The distribution center is being developed on 126 acres at Malone and Holmes, the site of the former Memphis Oaks Golf Course. When fully developed the park will consist of about 1.8 million square feet of warehouse/distribution space.

Industrial Park Planned for Austin

An Austin development company plans to build a 500,000 square foot space in North Austin. Development 2000 has received zoning approval from the City of Austin's Planning Commission. The approval enables Development 2000 to go ahead with plans to build a combination of retail, bulk warehouse, light office and light industrial space. Some of the space is aimed at companies providing support services to nearby Dell Computer. The project is estimated to cost $40 million, and will be called Heatherwilde Industrial Park. The project site totals 77 acres. The site will comprise up to 10 industrial buildings ranging in size from 65,000 to 150,000 square feet, and six retail buildings which will total 50,000 square feet.

New Industrial Park for Marshall County, Miss.

The Marshall County IDB has hired a consultant to develop a master plan for a proposed industrial park at Holly Springs/Marshall County Airport. Marshall County is located in extreme northern Mississippi near Memphis.

Plan to Redevelop Maryland Navy Base Opposed

Efforts to redevelop a closed Navy base along the Annapolis waterfront have run into opposition from nearby residents, one of the area's key lawmakers and an environmental group. County Executive Janet Owens and the Anne Arrundel Economic Development Commission want to redevelop 46.5 acres of the David Taylor Research Center into a $250 million high-tech office park. The base, which closed in late 1999, has a residential zoning classification and sits in a mostly residential area. But community groups, the Severn River Association and County Councilwoman Cathleen Vitale, whose district includes the base, have problems with the legislative package under consideration. They worry that increases in square footage, from 500,000 to 730,000, and in parking capacity, to more than 2,200 vehicles, will snarl traffic and hurt surrounding residential neighborhoods. Vitale, a Republican, and David Wallace, president of the 400-member river association said they are not opposed to the redevelopment but want to make sure its size meets the community's needs. Development plans call for about 13 buildings with a "green campus" that includes storm water management upgrades. Many of the buildings at the base requre demolition because they date back to the early 1900s and are full of lead paint and asbestos. One problem Vitale sees in the redevelopment plan is a two-lane road leading into the base. The road, which runs through a residential area and an operational naval facility, cannot be easily expanded.

Charlotte to Open First Business Park

Charlotte's First Business Park will open later this year. The 100-acre development is expected to attract as much as $50 million in investment and 600 jobs. Kannapolis Gateway Business Park will be jointly developed by Kannapolis and a Charlotte developer, MarkPierce properties. Construction began this spring with a 50,000 square foot spec building by MarkPierce. The park will include a 10-acre area for retail development on Kannapolis Parkway.

High-Tech Complex Designed for Houston

Infomart, a Dallas-based technology real estate developer, and Sarofim Realty Advisors have plans for a high-tech office complex on 65 acres of land in the Greenspoint area, near Houston. Plans call for a 108,000 square foot prototype building designed for telecommunications providers and Internet firms. Called Infomart Houston, the complex is planned to consist of up to seven buildings. The development will contain features telecom providers need, such as heavy floor loading capacity; high ceilings and extensive air conditioning. Also, Infomart is collaborating with a fiber carrier to build a fiber loop around the campus, enabling tenants of future buildings to easily link their telecommunications equipment.

Dames Point Park to Gain Public Road Access

The Jacksonville Port Authority will pay up to $500,000 to build a public road giving public access to Dames Point Park while its new terminal goes up. Six hundred acres have been targeted to be developed in the next five or six years. Dames Point Park is a three-acre parcel located beneath the Dames Point Bridge. The Jacksonville Port Authority's plans for the land surrounding the point include construction of the Dames Point Marine Terminal, which calls for closing August Drive, the area's only public access road. The new road, which will be completed this fall, will link the park to Dames Point Drive.

Charlotte to Gain Warehouse and Distribution Park

Childress Klein Properties will develop one million square feet of warehouse and distribution space off Westinghouse Boulevard. The Charlotte-based developer will start the $40 million project with one of four 250,000 square foot buildings. The project, which has not yet been named, will be on 70 acres and will be geared toward large users who need 30-foot ceilings and multiple docking bays.

Houston Industrial Park Gets Spec Start

Los Angeles-based CB Richard Ellis Strategic Partners has begun a $43 million industrial project in northwest Houston that will bring more than one million square feet of speculative space to the market. Ground has already been broken on four of the five buildings planned for the new 62.5-acre industrial park, named Alamo Crossing Commerce Center. Houston-based W.M. Dillard & Associates is partnering with CB Richard Ellis to develop the project. The local firm will design and construct the buildings, which CB Richard will ultimately own and manage.

Crescent Plans Nations Ford Park

Crescent Resources has begun construction on two buildings in Charlotte for a $7.5 million development called The Crossings at Nations Ford. The 30-acre site on Nations Ford Road will contain a 119,894 square foot office-warehouse building and a 78,737 square foot flex building. Both are being built on speculation and should be completed by September.

Atlanta Area Tech Park Undergoing Master Plan

Work is progressing on a new $500 million technology park located north of Atlanta in Cherokee County. Developers of the Bluffs of Technology Park are awaiting state legislature's appropriation of funds to extend a road through the site. Development of the park could span as many as 15 years. Ultimately, it could generate five million square feet of office and flex space and create 15,000 jobs. The 630-acre park site is located in the city of Canton, at Interstate 575 near the proposed Outer Perimeter highway.