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Parkes Development Buys Cool Springs Site For $7M

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Franklin-based Parkes Development Group and its partners acquired a four-acre site in Cool Springs for $7.3M. The developer, known for The Melrose apartments, has not released any details about its plans for the site, which is at the northeast corner of West McEwen Drive and Mallory Lane near the Toyota of Cool Springs car dealership, and Whole Foods-anchored Southside at McEwen shopping center, the Tennessean reports.

That part of Cool Springs is seeing activity by a number of other developers, including N.C.-based Northwood Ravin and locally based Boyle Investments. The seller of the McEwen Drive/Mallory Lane site was an entity linked to the Alexander car dealership family.