The Chicago investor behind the massive River North mixed-use development planned for the north end of the Cumberland River's East Bank has paid $30 million for 32 acres within its targeted footprint.
With the purchase, Monroe Investment Partners has largely completed assemblage of 105 acres overall for the mixed-use project. The 40-acre first phase, called The Landings at River North, is planned just north of the Kelly Miller Smith Memorial Bridge near where Jefferson Street becomes Spring Street.
Monroe Investment paid $28.7 million for 27.7 acres at 520 Cowan St., where logistics service Cherokee Marine Terminal has occupied a 68,450-square-foot warehouse. Separately, the investor paid Cherokee Equity Corp. $1.29 million for 4.56 acres of vacant industrial land at 1437 Cowan Court.