With Availity LLC confirmed as the anchor for Town Center One, developer VanTrust Real Estate is purchasing additional land in Southside for two more buildings estimated at up to $60 million upon build-out.
The $30 million Town Center One will be built on almost 11 acres at 5555 Gate Parkway on land a VanTrust group bought from the Skinner family.
John Carey, VanTrust executive vice president, said Monday the group will close on the purchase of 18 adjacent acres from the Skinners in the next week.
He expects to develop between 250,000 and 300,000 square feet of office space among Town Center Two and Three.
Carey said VanTrust has flexibility with the square footage of each building.
“We can tailor the size of the building to meet the needs of a particular tenant,” he said.
The timing and size of the each building has not been finalized, he said. He estimates the total investment at full build-out will be $50 million to $60 million.
Carey said groundbreaking will take place this month for the 160,000-square-foot, five-story Town Center One for completing in July 2018.
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