Prominent Developer Acquires Land in NuLu
A prominent NuLu developer has his sights set on another project.
NuLu Commons North LLC, owned by Mo Deljoo, local developer and managing director of Noveen Consulting, recently acquired a 0.79-acre vacant lot on Main Street for $2.3 million. The site spans 808 to 814 E. Main St. in NuLu.
Tyler Smith, managing partner of CORE Real Estate, represented the buyer in the transaction. He said he’s continuing to work with Deljoo to determine the highest and best use for the site, acknowledging many offices, retailers and restaurants want to move to the growing area of town. The group plans to utilize an opportunity zone fund for the project.
“The planning, design and architectural process has started and we’re working on this new exciting project every day,” Smith said in an email. “We know many office, retailers and restaurants want this prime location on Main Street in the thriving NuLu district and we have hopes to deliver another award-winning development.”
Deljoo is the developer responsible for NuLu Marketplace, located in the 53,000-square-foot commercial building at 817-826 and 828 E. Market St.That space is 100% leased, and the businesses that are currently open at NuLu Marketplace include: West Sixth NuLu, Emmy Squared Pizza, Buff City Soap, The Dog Shop, The Local Seltzery, The Craftery, Hectare’s, Mamili and Hazel+Hunt.