Redstone Gateway: The Gateway to Growth

Redstone Gateway: The Gateway to Growth

Topics: Commercial Real Estate, Development

Markets: Huntsville-Madison County

It’s no secret that Redstone Arsenal is the economic engine of Huntsville, Alabama. It employs over 35,000 people in the Huntsville metropolitan area, and is the site of much of our nation’s army, aerospace, and defense.

Outside the gated hub are a number of government contractors who compliment and serve the army and defense industry. As the Trump administration continues to advocate and expand the United State’s defense budget, new contractors and new businesses are mushrooming - creating a greater demand for office space near Redstone Arsenal.

Corporate Office Properties Trust (COPT) and their partners Jim Wilson & Associates identified that demand and is satisfying it with over 4.6 million square feet of office and research and development properties, as well as supporting retail, food, and hospitality amenities.

The development, which sits on 470 acres leased from the Garrison at Redstone, is conveniently located at the entrance of Redstone Arsenal’s Gate 9, the most highly trafficked entry into the arsenal.

The Redstone Gateway development predominantly offers build-to-suit development solutions for tenants that need modern, efficient buildings or campuses with immediate access to their government customers on Redstone Arsenal.  

“We establish rental rates on a case-by-case basis.  To meet current market demand, COPT also is developing two multi-tenant office buildings, 4000 & 4100 Market Street.  Combined the two buildings total 80,000 square feet that are approximately 50 percent pre-leased. Shell completion is scheduled for the fall of 2018. The approximately 40,000 square feet of unleased space is ideal for office/flex users, and is competitively priced,” said James Lomax, COPT’s Director of Asset Management.

To support the tenants, COPT recruited several restaurants.

Lomax said that the restaurants they chose needed to be able to efficiently support the high peak lunch demand and offer cost-effective lunch options

“Currently there are three restaurants serving tenants at Redstone Gateway and the broader community: Rocket City Tavern, Fiero Mexican Grill, and Dipwitch,” said Lomax. All of the restaurants are new to market.

  • Rocket City Tavern is a full service restaurant and bar featuring local microbrews, popular wines and signature cocktails.  It offers private dining, as well as al fresco dining within the bar area.
  • Fiero Mexican Grill is a fast-casual restaurant featuring fresh, hand-made Tex-Mex cuisine.  Its signature offering are its authentic Mexican street tacos on homemade corn or flour tortillas.
  • Dipwich is a fast-casual restaurant featuring French dip sandwiches.  Options include Italian beef, chicken, and brisket.
     

“The current retail building (2100 Rideout Road) encompasses 19,178 square feet and can accommodate between three and four additional food retail concepts or goods and services retailers. Ultimately, the park’s master plan calls for construction of another 100,000 square feet of retail and food amenities,” said Lomax.

In addition to the space mentioned above, the park will offer a conference and dining center that can be divided into three rooms and can accommodate up to 120 people.

The development currently includes one hotel, a 120-room TownePlace Suites by Marriott. Lomax says that COPT is in discussion to bring a second hotel operator to the park, and will discuss details when the transaction is finalized.

While the park is just miles away from two of Huntsville’s newest mixed-use developments (MidCity and Town Madison) the COPT team is confident the development will flourish.

“Redstone Gateway’s first differentiator is its proximity to the missions on Redstone Arsenal.   Second, in addition to the commercial campus outside of Redstone Arsenal’s Gate 9, Redstone Gateway’s master plan includes a secure campus behind the gate to accommodate the more security conscious requirements of U.S. government and defense contractor tenants,” said Lomax.

“Furthermore, Redstone Gateway to be pedestrian-friendly, with centralized retail and food amenities that are within walking distance from existing and planned office facilities.  Additionally, we are designing a path around the existing six-acre lake that will provide another option for people to walk and exercise,” said Lomax.

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