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DevelopmentGeorgiaOfficeSoutheastTop Stories

Intuit Opens 360,000 SF Regional Office, Mailchimp Headquarters in Atlanta

by John Nelson

ATLANTA — Intuit (NASDAQ: INTU), a global financial technology platform, has opened its 360,000-square-foot office in Atlanta’s Old Fourth Ward neighborhood. The 10-story space will serve as a hub for the company as the only Intuit office in the Southeast, as well as the corporate headquarters for Mailchimp, a locally based email marketing platform that Intuit acquired in 2021 for $5.7 billion. Atlanta-based New City Properties delivered Intuit’s new space as part of the developer’s Fourth Ward development. The office sits along the Eastside Trail of the Atlanta BeltLine, a 22-mile rail loop that connects 45 distinct neighborhoods around the city. Mailchimp was formerly headquartered in Ponce City Market, Jamestown’s massive mixed-use redevelopment that also sits on the Eastside Trail in Old Fourth Ward, two blocks away from the new office building. The new space at Fourth Ward will accommodate nearly 1,000 current Intuit employees and provide space for future growth. The office is already one of Intuit’s top five largest campuses globally. “It’s no secret that Atlanta is a bustling tech ecosystem that Mailchimp has been central to for over 20 years,” says Rania Succar, senior vice president and general manager of Intuit Mailchimp. “Our beautiful new workspace is …

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Conference CoverageFeaturesRetail

EEE Panelists: Today’s Premier Entertainment Experiences Merge the Physical, Digital Worlds

by Jeff Shaw

LOS ANGELES — Brick-and-mortar spaces aren’t the only areas where consumers exist nowadays. There’s the omnichannel approach that includes online shopping, yes, but today’s forward-thinking landlords and tenants know that the digital sphere is the next great conquest.  This was one of the primary arguments made at InterFace Conference Group’s Entertainment Evolution Experience (EEE), which was held at the J.W. Marriott at L.A. Live in downtown Los Angeles this week.  “Consumers are back and looking for experiences, but it really has to mean something to leave the sofa and comfort of Netflix and go into a shopping center,” said Benjamin Calleja, founder and chief experience officer for Livit Design, as well as the conference keynote speaker. “Digital is blurring the lines between the physical and virtual worlds, creating more ways to transform spaces.” One only needs to look as far as the latest entertainment concepts to see how digital assets are playing an integral role in today’s shopping centers. Concepts like Dreamflyer, a virtual reality (VR) flight simulator, and the immersive Elvis Evolution that includes a “concert” from the late Elvis Presley illustrate how digital displays can merge with sensory experiences to create a new entertainment opportunity.  Travis Cloyd, CEO …

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DevelopmentIndustrialKentuckySoutheast

Toyota to Invest $1.3B at Flagship Plant in Kentucky for Electric SUV Production

by John Nelson

GEORGETOWN, KY. — Auto giant Toyota has announced plans to invest $1.3 billion at Toyota Motor Manufacturing Kentucky, the company’s flagship plant in Georgetown. Toyota will invest the capital to increase production of its all-electric, three-row SUVs at the plant, including the establishment of a battery pack assembly line. CNBC reports that Toyota will begin production on the electric SUVs between late 2025 and early 2026. Toyota announced in May that it plans to invest $591 million in future projects and increase job retention to 700 full-time jobs at the plant. Situated about 16 miles north of Lexington within Scott County, Toyota Motor Manufacturing Kentucky represents an approximately $10 billion investment since operations first began in 1988. The company has produced more than 12 million vehicles at the plant over the past four decades.

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DevelopmentIndustrialSoutheastVirginia

Matan Delivers 345,000 SF Industrial Project in Ashland, Virginia

by John Nelson

ASHLAND, VA. — Matan Cos. has delivered Phase I of Northlake II, an industrial park located along the I-95 corridor in Ashland, a northern suburb of Richmond. The first three buildings of the park span 345,000 square feet and were fully leased upon delivery to tenants including Ferguson, Chadwell Supply, Envoy Solutions and Haskell Hardware. Gareth Jones, Chris Avellana and Charlie Polk of JLL handle the leasing at Northlake II on behalf of Matan. Construction of Phase II will commence this summer, with expected completion at the end of 2025 for the final building, which will span approximately 200,000 square feet.

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AcquisitionsFloridaMultifamilySoutheast

Colliers Arranges $10.9M Sale of Casa Linda Apartment Building in Miami

by John Nelson

MIAMI — Colliers has arranges the $10.9 million sale of Casa Linda, a six-story apartment building located at 3300 S. Dixie Highway in Miami’s Coconut Grove neighborhood, roughly four miles outside of downtown. Situated on a 32,000-square-foot site, Casa Linda comprises 45 units in one- and two-bedroom layouts. Private investor Philip Rahimzadeh acquired the asset from an entity doing business as Trizel CRE. Virgilio Fernandez of Colliers represented both the buyer and seller in the transaction.

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Leasing ActivityMarylandRetailSoutheast

Primark to Open 30,000 SF Store at Mall at Prince George’s in Suburban D.C.

by John Nelson

HYATTSVILLE, MD. — Primark, a global apparel retailer, plans to open a 30,000-square-foot store at Mall at Prince George’s, a regional shopping mall in Hyattsville. PREIT owns the mall, which is located about six miles north of Washington, D.C. Primark recently announced plans to grow its regional footprint from 24 stores to 60 locations. The retailer plans to open its Hyattsville store in 2025 within a space formerly occupied by J.C. Penney. Other tenants at the mall include Target, Planet Fitness, H&M, DSW, Old Navy, Victoria’s Secret and Miller’s Ale House.

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AcquisitionsRetailSoutheastTennessee

Marcus & Millichap Brokers $5.6M Sale of Strip Retail Center Near Chattanooga

by John Nelson

OOLTEWAH, TENN. — Marcus & Millichap has brokered the $5.6 million sale of Wolftever Crossing Shopping Strip, a 12,040-square-foot strip retail center located in Ooltewah, roughly 20 miles outside Chattanooga. Tenants at the property, which was built in 2017, include AT&T, Supercuts, Salsarita’s, Firehouse Subs and a standalone AFC Urgent Care. Harrison Creason and Andrew Margulies of Marcus & Millichap arranged the sale on behalf of the seller, a South Carolina-based partnership, and procured the buyer, a California-based private investor. Jody McKibben assisted in closing the transaction as the firm’s broker of record in Tennessee.

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Work-Shop-Dallas
Leasing ActivityRestaurantRetailTexas

Seven Retail Tenants Join 216,500 SF Work/Shop Mixed-Use Development in North Dallas

by Taylor Williams

DALLAS — Seven new tenants have joined the roster at Work/Shop, a 216,500-square-foot mixed-use development in North Dallas. EVO Entertainment Prestonwood debuted at the development in November, and Local Jonny’s, MAI (My Aesthetics Intelligence), Rose Couture Nail Bar and [solidcore] are slated to open later this year. Toast and juice bar Toastique will also open this month and eatery Crisp & Green is now open. Houston-based Triten Real Estate owns Work/Shop, which features 81,500 square feet of retail space in addition to 135,000 square feet of office space and 30,000 square feet of green space.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 167,120 SF Industrial Lease in Brookshire, Texas

by Taylor Williams

BROOKSHIRE, TEXAS — Lee & Associates has negotiated a 167,120-square-foot industrial lease in the western Houston suburb of Brookshire. The tenant, SOLogistics, has leased the entirety of Westside 10 Industrial Park, a front-load building that features 32-foot clear heights, 38 dock doors, two overheard doors, 145-foot truck court depths and parking for 227 cars and 15 trailers. Robert McGee, Taylor Schmidt and Austin Bartula of Lee & Associates represented the landlord, a partnership between Growth Capital Partners and Phelan Development Co., in the lease negotiations. Will Clay of JLL represented SOLogistics.

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Thompson-Road-Distribution-Center-Baytown
DevelopmentIndustrialTexas

Triten Real Estate Completes 130,755 SF Industrial Project Near Port Houston

by Taylor Williams

BAYTOWN, TEXAS — Locally based developer Triten Real Estate Partners has completed Thompson Road Distribution Center, a 130,755-square-foot industrial project located near Port Houston in Baytown. The site spans eight acres, and the building features 32-foot clear heights, 18 dock-high doors, two drive-in ramps, 80 trailer drops and 62 car parking spaces. Method Architecture designed the project, and Angler Construction served as the general contractor. Boyd Commercial is the leasing agent.

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