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Release Date:
October 5, 2000
CECIL
DEVELOPMENT GROUP TO BUILD ONE VANDERBILT PARK
Oct.
6 Groundbreaking Set for Newest Addition to Vanderbilt Park South Business
Park
ASHEVILLE,
N.C. (October 6, 2000) Cecil Development Group, Inc., developers
of Vanderbilt Park South, will break ground at 4 p.m. today on One Vanderbilt
Park, a two-story, Class A medical office condominium at the intersection
of Interstate 40 and Hendersonville Road (U.S. Highway 25). The
37,000-square-foot building is the second to be constructed in the medically
oriented regional business park and is scheduled for completion in October
of 2001.
First Building Occupied in May
Strategically located just two exits east of the convergence of Interstates
26 and 40, Vanderbilt Park South is a master-planned, medically-oriented,
regional business park that is envisioned to include over 300,000 square
feet of office space on 20 acres of highly visible property. In May, Asheville
Cardiology Associates occupied the first building constructed in the park,
a three-story, 78,400-square-foot medical office building that is home
to 28 physicians and a staff of 147. Another 12 acres remain for
development of Class A professional offices and build-to-suit options.
The Charlotte
office of LS3P Associates LTD is the building architect, and F.N. Thompson
Company will serve as general contractor for the project. The Charleston,
S.C., office of LS3P Associates is the building interior space planner
and medical specialist.
Second Building Receiving Enthusiastic Response
According to Yates Pharr, Biltmore Farm's vice president of office and
industrial development, "We are pleased to see this second building
receive such an enthusiastic response. Given its proximity to Mission
St. Joseph's Hospital and to the interstate system, Vanderbilt Park South
is an ideal location for a medically-oriented, regional park. Not
only is it easily accessed in Asheville, but it is centrally located to
the residents of the twenty counties in western North Carolina.
It's easy for current patients to find and for future patients to discover."
One Vanderbilt
Park is designed in brick veneer with cast stone accents and ballasted
metal roofing. Its curved face features two-story glass elements.
The entrance is dressed with a Juliet balcony and arched window.
A fully appointed common entrance has an 11-foot ceiling and features
wood base, chair rail and crown molding. The elevator will accommodate
a stretcher. Amenities include an innovative infrastructure with
fiber-optic wiring for voice, video and data transmission capabilities.
Occupants Enjoy Asset Value Enhancements
One Vanderbilt Park is 41% sold with occupants including Carolina Ophthalmology,
Appalachian Foot and Ankle Associates and Bob Harris, D.D.S. Among
asset value enhancements they enjoy are the strategic location and the
savings in operating expenses made possible through the potential economies
of scale with combining property management, service contracts and supplier
and vendor agreements.
Vanderbilt
Park South defines a highly desirable quality of life for those seeking
a workplace close to home. It is adjacent to the Town of Biltmore
Forest, Asheville, Biltmore Village and Biltmore Park. A uniquely
relaxed work environment is created with sweeping mountain views that
include Mount Mitchell, tallest mountain east of the Mississippi, and
the Yancy County mountain range.
Biltmore Farms' Role
Biltmore Farms, Inc., is serving as sales representative, property manager
and construction manager for the project. Established in 1897, the
company has been in the real estate development business since the 1930s.
Today, it develops mixed-use master-planned communities and owns, manages
and markets office, industrial, retail, hospitality and residential ventures
in the Asheville area.
Currently,
Biltmore Farms is developing Biltmore Park,® a master-planned community
located in south Asheville at Exit 6 off I-26, which calls for more than
2,000 single and multi-family homes; Town Square shopping village with
restaurants, hotels, theaters, residences, offices and the new South Buncombe
YMCA; and the Corporate Technology Center®, an 800,000-square-foot
business park offering redundant, unlimited band width, fiber-optic video,
voice and data transmission capabilities.
Contact
Eddie Dewey at 828-209-2143 or edewey@biltmorefarms.com
to learn more about Vanderbilt Park.