--TelePlace Inc., the company behind TelePlace Buckhead, is planning TelePlace Norcross in a former Casual Corner women's clothing warehouse northeast of Atlanta. With Clearview Investments of Arlington, TX, the Boca Raton, FL-based firm has closed a deal for the 221,000-sf warehouse/office facility at an estimated price of $11 million.
Construction is under way. The space is expected to be ready by the first week of December. It will house a data center and collocation facility. The site also includes eight acres on which TelePlace plans to put up another 200,000 sf of telecom space.
--Developers are looking south of town as well. New York-based JEMB Realty Corp. expects to close in September on a new 203,000-sf facility in SouthPoint industrial park in Forest Park near I-285 at an estimated price of $15 million.
Industrial Developments International (IDI) is the seller in the deal and owner of the park. The firm's Tornado Telecom division will operate the facility, its first in metro Atlanta. The telecom hotel should be ready for occupancy in mid-December.
These projects follow similar recently announced ventures. Those include MetroNexus and Core Location planning a one million-sf telecom hotel west of Midtown; the Downtown Macy's department store, soon-to-be a mostly-telecom-hotel, signed its first tenant, Colo.com, a California collocation facility operator; and a former Roberds furniture and appliance store in Buckhead is being converted into TelePlace Buckhead with WorldCom as the anchor.
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