Home Depot’s lease to anchor a planned industrial park that will transform a former DuPont nylon plant site in Chattanooga, Tennessee, scored the 2023 CoStar Impact Award for lease of the year as judged by a panel of local real estate experts.
The Atlanta-based big box do-it-yourself retailer leased 60,734 square feet of a 189,000-square-foot building being built in North River Commerce Park, a new development local firm Rise Partners expects to have a total of five buildings. Buildings will range in size from 180,000 square feet to 400,000 square feet.
DuPont had opened a nylon plant on the site after World War II, which it operated until 2015 when the plant was closed as part of a streamlining move.
About the project: Home Depot signed a 10-year lease in the first building in the development. The developer plans to have it 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: Wilson McGinness and John Tugman of Rise represented the landlord.