Parkway Place

Al. Neyer, Granite REIT Partner to Develop, Design, and Build 844,480 SF Industrial Project in Murfreesboro, TN

With strong demand and limited supply in the Nashville market, Al. Neyer continues to look for compelling opportunities to develop, design, and build best-in-class industrial space. Parkway Place will be an 844,480 SF, Class A industrial facility, marking Al. Neyer’s first project in the rapidly growing city Murfreesboro, Tenn. This is the largest suburb of Nashville and the 8th fastest growing mid-size city in the U.S.

This cross-dock facility is located on Interstate 24, adjacent to a 1 million SF Amazon fulfillment center. Its prime location means 72% of the US population can be reached within two-day ground delivery.

Al. Neyer is serving as the developer and design-builder on the project. The project is a forward sale to Granite REIT, a Canadian-based REIT engaged in the acquisition, development, ownership, and management of logistics, warehouse, and industrial properties in North America and Europe. Granite closed on the purchase of the land site in June and expects to complete construction of the building in Q3 of 2022.

The first partnership between Granite and Al. Neyer, this transaction marries Granite’s long-term strategy in owning institutional-quality real estate and Al. Neyer’s ability to serve as developer and design-builder for a project on a speculative basis.