Entergy HQ Commands $15M in Jackson, MS
- Apr 02, 2019
CBRE has brokered the $15.4 million sale of Entergy Nuclear Headquarters, a 142,198-square-foot office building in Jackson, Miss. Pasha Realty Corp. sold the Class A asset to a New Jersey group of investors. According to Hinds County records, KeyBank provided acquisition financing to facilitate the deal.
Located at 1340 Echelon Parkway, the six-story building serves as the headquarters of Entergy’s nuclear division. The company has occupied the property since its completion in 1989. Entergy Nuclear Headquarters is within the Echelon Business Park, which houses Entergy’s corporate campus including the company’s data center, transmission headquarters and training facility. Entergy has consistently made investments at the campus to support its ongoing operations.
The CBRE team of Tom Shafer, John Hinson, Adam Sklaver and Philip Kates arranged the transaction. This marks the second time the team has arranged the sale of Entergy Nuclear Headquarters in the past 15 months. The asset last changed hands in August 2017, when Pasha Realty Corp. acquired it for $9.3 million from Rudnick Development, Yardi Matrix data shows. The property provides easy access to Interstate 220.
“The building was sold via auction and the winning bidder, a group of investors out of New Jersey, is making this their first purchase in Mississippi,” Shafer said in prepared remarks.
Entergy recently broke ground on a 993-megawatt gas turbine combined-cycle power plant in Southeast Texas. The facility will be known as Montgomery County Power Station and is estimated to save customers roughly $1.7 billion over the next 30 years.