News & Media

TPA Group Buys Troutman Site Previously Rezoned for Massive Industrial Project

From Charlotte Business Journal, April 11, 2023, by Colin Huguley

An entity affiliated with an Atlanta-based real estate firm has acquired a large site in Troutman that it previously rezoned for industrial development.

Late last month, Troutman Logistics Owner LLC bought approximately 159 acres from several owners for just over $9.5 million total, according to Iredell County real estate records. Documents show the entity is affiliated with TPA Group, which rezoned the site between South Main Street and Perry Road near Interstate 77.

TPA Group won approval from the Troutman Town Council for rezoning and annexation of the site in December 2021 to allow for the development of    1.7 million square feet of industrial space. In March 2022, the Troutman Town Council approved incentives worth nearly $1.9 million for the project under the code name Project Kat, town documents state. The incentives grant was based on a projected $150 million capital investment for the project.

It is unclear at this time if the project plans for the site have changed.

The Troutman project is not the only industrial project that TPA has proposed in Iredell County. In September, TPA Group acquired around 180 acres at Interstate 77 and U.S. Highway 21 in Statesville for the development of a new industrial park named 77/40 Commerce Center, which is just north of the    I-77/I-40 interchange.