The developers of The District at Eastover now own One Eastover Center, the Class A office building with an adjacent garage that anchors the north side of the mixed-use development being built in the center of the Metro Jackson area.
OEC District LLC bought the five-story office building and 400-space garage from Eastover Jackson LLC, for an undisclosed amount. OEC principals Breck Hines and Ted Duckworth said financing was provided by Origin Bank, who has been a long-time banking partner in the development and also has a freestanding branch under construction in the development in front of One Eastover Center.
Hines and Duckworth and their development partners own or have an interest in everything at The District except the Origin branch now under construction, Hines said.
The developers said the purchase of the office building gives them control for “optimal brand positioning” of the entire 22-acre complex. “Everything we have tried to do with this development is to raise the bar and, looking down the road, operationally in terms of landscaping, security, signage and other aesthetics, having the office building under the same umbrella is important,” Hines said.
The office building, which houses the Baker Donelson law firm, Ross & Yerger insurance and Cosmich Simmons & Brown law firm, was completed in 2015. It has 115,000 square feet of office space, which is almost totally leased, thanks to the building’s high visibility and prime location between the Eastover and Fondren neighborhoods and adjacent to I-55 and the University of Mississippi Medical Center.
The remaining two percent of unoccupied space measures around 2,500 square feet, and Hines said they are in talks with existing tenants to lease it.
The developers and their affiliates opened the 95-unit Residence Inn by Marriott at The District at Eastover on Aug. 18 and say it is the first new hotel built in Jackson in more than a decade. “Feedback from guests has been wonderful,” Hines said.
Other pieces of the development under construction are The District Lofts, the BankPlus building and 115,000 square feet of ground floor retail and restaurant space.
“The biggest piece of what is currently under construction is the office building,” Hines said. “BankPlus will occupy the top two floors and the bottom will be retail and restaurants. Everything you see under construction will be finished around April 1, 2017.”
Hines said announcements of retailers and restaurants will be made in the next few months.
Construction activity at the sprawling site is being documented from above with a camera-equipped drone, and the photos are posted on The District’s website (districtateastover.com).
The District is taking shape on the former site of the Mississippi School for the Blind and Deaf. Demolition on the abandoned school buildings began in November 2013 and was completed in May the following year.
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