(Jackson, Mississippi / February 11, 2014) Baker Donelson announced today that it has signed a lease to relocate to a new, state-of-the-art office building at The District at Eastover, a 21-acre mixed-use development that will feature approximately 585,000 square feet of retail, residential and office space. When it makes the move in the fall of 2015, the Firm will be the lead tenant in Holder Properties' new office building, anchoring the northern end of the mixed-use development. The office development is planned as a five-story, 120,000 square foot multi-tenant, Class "A" building with an adjacent 350 space parking deck and additional surface parking for 50 spaces. Holder Properties, a full-service commercial and residential real estate developer based in Atlanta, will manage the development of the office project at Eastover. "Having a tenant the caliber of Baker Donelson adds value not only to this new office development, but to the entire mixed-use development," stated John Holder, CEO of Holder Properties.
Baker Donelson will occupy the third, fourth and fifth floors of the building occupying approximately 57% of the office space. The first and second floors will be available for lease to the market. Baker Donelson is one of the largest law firms in the Southeast, counting more than 690 attorneys and advisors in 19 offices across a seven-state footprint and Washington, D.C. The Jackson office, counting more than 80 attorneys and 150 total employees, opened in 1995, and was Baker Donelson's first southeast office outside of Tennessee.
Baker Donelson's move to the city's newest office property reflects the Firm's continued growth in both attorneys and business in recent years as well as its long-term commitment to the Mississippi market.
"Baker Donelson's office in Mississippi is located in Jackson, and it was very important to us to stay within the city," said William S. Painter, managing shareholder of the Firm's Jackson office. "Relocating to the District at Eastover allows us to be part of an exciting new mixed use development in the heart of Jackson that will offer to our employees restaurants, banking, retail shopping and other amenities in a walkable environment. And because we participated in the design of the building from the beginning, we were able to focus on maximizing its efficiency. As a result, this move will allow us to accommodate our continued growth using a much more efficient office design and making better use of our space."
Greg Katz and Michael Hopper with Studley represented Baker Donelson in this transaction.
Designed by Nelsen Partners, the office building will be clad in precast concrete panels, glass and metal with a lobby consisting of high-end finishes. A fifth floor balcony located on the southeast corner of the building will offer panoramic views of the Jackson skyline. Office floor plates measuring approximately 24,000 square feet are highly efficient and have areas of floor-to-ceiling glass allowing unobstructed views of downtown, residential areas and The District at Eastover. The building is designed with energy efficient systems and environmentally sensitive materials. Site work for the project is now underway with construction scheduled to start in April. The building will be completed by the summer of 2015.
The project will be the first new institutional-quality Class "A" office building built in metro-Jackson in the last five years.
"I applaud Baker Donelson's decision to plant even deeper roots in the City of Jackson," said Jackson Mayor Chokwe Lumumba. "It is already a major employer and economic engine. Its multimillion dollar investment in the District of Eastover represents yet another hallmark of progress and opportunity for the citizens of Jackson."
"Baker Donelson has made a commitment to the Eastover office development and the City of Jackson. We are proud to stand with them in creating The District at Eastover in Mississippi's Capital City," said Ted Duckworth, a partner in The District Land Development Company, LLC.
The District at Eastover, being developed by an affiliate of Duckworth Realty, Inc., offers close-in access to Jackson's Central Business District as well as the historic Eastover, Belhaven, Fondren and Woodland Hills neighborhoods. The site is conveniently located in the geographic core of Jackson, and at the confluence of the major arterial roads serving the metro area. Additional announcements regarding The District's hotel, residential lofts and condos, retail and restaurants will be forthcoming.
For project information contact: Jeff Mixson, Holder Properties
jmixson@holderproperties.com
770.988.3131
Ashley Felder, Holder Properties
afelder@holderproperties.com
864.243.8550
About Holder Properties:
Holder Properties is a privately held full-service real estate developer founded in 1980 and based in Atlanta, Georgia. Holder Properties offers the complete range of services to develop, finance, lease and manage commercial and residential facilities. With over $1.5 billion of development completed encompassing space in excess of 10 million square feet, Holder has developed corporate headquarters, data centers, call centers, special use facilities and upscale student housing throughout the United States.
About The District at Eastover:
The District at Eastover is a $150 million development that will feature 585,000 square feet of retail, office and residential space in Jackson's city center. The District is conveniently located near Jackson's premier residential neighborhoods and is easily accessible by Interstate 55. The District enjoys a primary trade area that is home to four major medical centers, a daytime population of over 100,000 people, average household incomes of nearly $115,000, and daily traffic counts in excess of 130,000 automobiles.