Hines Eyes Spec at Avalon
Hines Interests is under contract to buy land at Avalon for what it's targeting as its next spec office project in metro Atlanta. The firm, already in a partnership with North American Properties to develop the office component of Avalon's mixed-use empire, will buy the parcel with eyes on developing a 200k SF office building. Hines' John Heagy says there are no tenants with LOIs or any pre-leasing, and the firm instead could move forward with construction. “It's been no secret,” John says. “We're marching forward with the intent of going spec on that building. We're in a pricing exercise right now.” The mystery remains when. John says no decision has been reached on when they'll break ground.