Southern Land Company has announced the looming sale of its Junction 15, a five-story mixed-use building located in downtown Plano, Texas.
In a release, the Nashville-based company said it is selling the property to a commingled fund managed by New York-based real estate investment firm Clarion Partners for an undisclosed sum.
Junction 15, which opened in 2014, represents a public-private partnership between SLC and the City of Plano. The building is located close to Plano’s Old Town Square and Haggard Park, as well as several restaurants.
“We are proud of the retail and housing options we’ve provided to the community through our successful partnership with the City of Plano,” Brian Sewell, SLC president and chief operating officer, said in the release. “Junction 15 has bolstered an ongoing public-private initiative to spark downtown Plano’s economy. We are confident that Clarion will be an excellent steward of the property and will carry on our work supporting community growth.”
On the Clarion Partners theme, LIT Industrial LP, a CP affiliate, in April paid $16.2 million for an approximately 440,000-square-foot industrial building located in Mt. Juliet.
SLC is undertaking a major mixed-use project in Green Hills (read here).
The Metro Council has reappointed local developer Jimmy Granbery to the Metro Development and Housing Agency Board of Commissioners.
Granbery, chief executive officer of H.G. Hill Realty Co., serves as the board’s vice chair for development. He was appointed to the board in July 2011.
In addition, Granbery is chair of the Urban Land Institute and a member of both the National Association of Office and Industrial Properties and the International Council of Shopping Centers.
Austin-based Forestar Group Inc. has landed multiple permits for its mixed-use Music Square Flats now under construction in Music Row.
According to Metro Codes Departments documents, the four permits are valued at a collective approximately $28.2 million.
Franklin-based Construction Enterprises Inc. is handling the work.
Read more here.
Google Fiber is leasing the office space above Kayne Prime on 11th Avenue in The Gulch, formerly home to Raven Tools, reports The Tennessean.
Currently, Google Fiber occupies temporary space at downtown's Fifth Third Center office building.
The move comes as the Metro Development and Housing Agency Design Review Committee earlier this week approved signage for Google showroom Fiber Space in a Division Street retail space at mixed-use tower Icon in The Gulch. (Read more here.)
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