The park was originally developed by Trammell Crow from 1987 to 1991. Kris J. Cooper, a senior director with Cushman & Wakefield's Atlanta office, and colleague Reynolds Couch brokered the deal. Rental rates in the Woodlands average $16.85 per sf. Cooper tells GlobeSt.com deals being done currently in the Jackson area are at $17.50 to $18.00 per sf.
"Jackson is a good, steady market, but it is not a spec market," Cooper says. Cushman & Wakefield was brought in to recommend and handle the disposition of Crocker's Southeast office property portfolio, valued at about $600 million.
C&W at first recommended the Crocker holdings be disposed of individually rather than as a portfolio. A portfolio offer, excluding Jackson, was made. It fell through, however. Meanwhile, the Woodlands deal was in the works and was completed.
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