Real Estate - Chicago, Illinois, United States
Monroe Investment Partners, LLC invests in value-add real estate opportunities primarily in Nashville, TN.Most notably, since 2000 Monroe assembled more than 100 acres of industrial property along the Cumberland River across from Downtown Nashville. Monroe planned and zoned the area for mixed use development with permissible building heights of 25 stories, which can be increased to 38 stories through bonuses. The area now known as River North, is one of the hottest mixed-use environments in the country.Monroe launched River North with a 40-acre first phase called The Landings, and began road and infrastructure construction in the Spring of 2021. Monroe sold five riverfront development sites within the Landings to a venture between Creek Lane Capital and MRP Realty which will start construction of three of their five planned buildings in the Summer of 2021. Creek Lane's development will create a sense of place within River North bringing a mix of office, retail, services, multiple food & beverage options, multifamily residential, as well as the first installment of a mile long riverfront park within River North that will ultimately extend south past Nissan Stadium. Thoughtfully designed and carefully executed, River North is one of the most desirable mixed use waterfront environments in the nation and is expected to contain more than $3.0 billion in new construction when fully developed.Citing Nashville's well-educated workforce and the vibrant culture necessary to attract top tier talent, Oracle Corporation acquired more than 65 acres within River North in June 2021 in order to create an office campus to serve their growing Oracle Cloud business. The campus is expected to be at least 1.2 million square feet, cost more than $1.2billion, house at least 8,500 employees representing an annual payroll in excess of $1billion, and herald a new era of development on the East Bank of the Cumberland River.
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