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TJX's $600M Jackson Distribution Center
   
July 2, 2013
 
 

TJX's $600M Jackson Distribution Center


The retailer that owns TJMaxx, HomeGoods, and Marshalls is planning a massive distribution center in Jackson County. (Floral print dresses and accent lamps need a place to relax too.)

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TJX Corp is working with IDI to develop a $600M, 800k SF warehouse (code named "Project Carrier" for anybody doing business on CB radio) in the City of Jefferson that will employ 500 workers. The Jefferson City Council just recently approved a $60M bond to help finance the project, according to the Jackson Herald. The facility comes as TJX is increasing its store count in metro Atlanta, with HomeGoods entry. IDI's Jay Mitchell (left, with Alston & Bird's Jay Farris back in 2010) declined to comment.
PM Realty (Northridge5)

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The project will be developed on a 38-acre tract in the Jackson 85 Distribution Center off Holly Springs Road and RACO Parkway. According to city docs, IDI is in talks to both buy the site from RACO and to rezone for light industrial. Officials with Studley in Philadelphia, who are representing TJX, declined to comment.
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Pulte's New Capital City?

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Looks like Pulte Corp has found a new home. After making its stunning announcement last month that it was moving from a Detroit suburb next year, one of the nation's largest homebuilders is in talks to lease 100k SF at Capital City Plaza in Buckhead. There was much speculation when Pulte announced plans for the HQ move. (Everybody was shining their lobbies and washing their windows to be courted.)
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Sources indicate the company narrowed its choices to Atlanta Plaza and Two Live Oak (above) before settling on Capital City Plaza. (Isn't this more interesting than The Bachelorette?) The deal, if consummated, is a huge win for Parkway Properties, which acquired the 410k SF tower in 2004. Officials with Parkway declined to comment for the story.


GSU Buys Park Place

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Here's a good example of cause and effect. Georgia State University buys 55 Park Place for $33.5M. So Koch Enterprises inks a deal to move out of 55 Park Place and to 100 Peachtree with 90k SF. GSU just announced that it purchased the 77% occupied, 555k SF Downtown Atlanta tower from special servicer C-III Asset Management for below the value of the original loan. Cushman & Wakefield's David Meline and team brokered the sale, and says the tower attracted a bunch of attention from investors, indicating increased "appetite for value-add deals in Atlanta."


Gring Field Forever

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The second of our series of celebrity lookalikes is none other than the legendary Sally Field… umm… we mean Gring's Robbie Gring Campbell, one of the handful of PR pros in Atlanta focused on commercial real estate clients. So it's no surprise that Robbie says she first became aware of her double when she was 14. For much of her life, Robbie says she's been mistaken for the famous Flying Nun and Gidget actress. In fact, for the past three years, a security guard at the Twin Cities airport "chased me down" for an autograph, refusing to believe she wasn't Sally, Robbie says. One highlight was Sally acknowledging on Facebook that, in fact, she does see the resemblance between the two.

The first time I didn't feel it, but this time I feel it—and I can't deny the fact that you like me, right now, you like me! Email jarred@bisnow.com.

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