Local Chattanooga, Tennessee, developer Rise Partners' purchase of 88 acres of the former DuPont nylon plant campus was named the 2023 CoStar Impact Award for the top sale/acquisition of the year as judged by a panel of local real estate experts. Rise Partners intends to build a new industrial park at the site.
The deal was the largest land purchases for Class A commercial development purposes in over 30 years in the Chattanooga market, according to the nomination. Five industrial buildings are planned for the development, which is called North River Commerce Park.
DuPont opened a nylon plant on the site after World War II. It operated until 2015 when the company shut down the facility in a streamlining move.
About the Project: North River Commerce Park’s buildings will range in size from 180,000 square feet to 400,000 square feet. Home Depot leased space in the first building, which Rise Partners plans to finish and open in October.
What the Judges Said: The revitalization of the old DuPont site “will create jobs for our community,” said J.P. Evans, director of leasing for Urban Story Ventures.
They Made It Happen: John Tugman of Rise Partners represented the landlord.