Archive for March, 2012
84 Lumber, who ceased operations last year in their WestBridge Business Park facility, has divided the 15.7 acre tract and sold the real estate to 2 parties.
An affiliate of Visionary Solutions, LLC called LSA Property Management, LLC, has acquired the 9.2 acres that housed the former truss plant facility, at 2553 Quality Lane. The remaining 6.5 acres, at 2545 Quality Lane, developed with retail building and millwork plant has been acquired by the principals of Lokar, Inc., a manufacturer of custom and specialty car components.
Visionary Solutions LLC is a DOE-MCEP approved motor carrier and logistics company providing transportation to government and commercial organizations with a focus on material disposition. They will relocate their offices from Union Valley Road, in Oak Ridge. Cavanaugh Mims, CEO of Visionary Solutions, says “Parking the trucks at our current office facility has become tenuous. The move gives considerably more parking for our trucks, room to grow our operations and a more secure fenced and lighted facility. Even though most of our operations are not in Tennessee, we feel a long term commitment to our loyal employees and want to remain in this area.”
Lokar manufactures quality performance products for street rods, hot rods, trucks, muscle cars, kit cars, off-road vehicles and drag race cars including shifters, cable systems, throttle pedals and e-brake systems. They plan to relocate from their current facility at 10924 Murdock Drive. Skip Walls, co-owner of Lokar, with his wife, Debbie Walls, says “We have outgrown our current facility and have been eager to find a larger facility with room to grow. This acquisition will help assure the future operations of Lokar will not be limited by our real estate. We love Knoxville and are excited about our new location.”
Sam Tate, CCIM, Broker, NAI Knoxville, who represented Visionary Solutions, LLC said “We were fortunate to match the needs of 2 different parties for the simultaneous acquisition of the entire site. The parties are very compatible.” John Melton, Broker, Realty Executives, represented Lokar. Visionary Solutions, LLC has a local employment of 28 and Lokar has 46 employees. Todd Napier, Executive Vice President for The Development Corporation of Knox County, said “We are delighted that a very fine industrial property is being put back in service, in a way that benefits the community in terms of jobs and investment. This is a fulfillment of the original purpose of developing business parks by The Development Corporation.”
According to an article published by Forbes magazine March 13,2012, Knoxville has been named one of the top cities for jobs this spring. Knoxville was tied for No. 1 with Greenville-Mauldin-Easley, S.C. [Forbes article]
Commercial Real Estate’s Leading Independent Research Service Recognizes Top Leasing and Sales Firms in the Industry
NAI Knoxville has been selected by CoStar Group (NASDAQ: CSGP), commercial real estate’s leading independent research firm, to receive a CoStar Power Broker Award. This annual award recognizes the “best of the best” in commercial real estate brokerage by highlighting the U.S. firms and individual brokers who closed the highest transaction volumes in commercial property sales or leases for the entire year of 2011 in their respective markets.
As the largest professional research organization serving the commercial real estate industry, CoStar is uniquely positioned to identify the top firms and brokers in each market throughout the U.S. All awards are based on transaction data maintained in CoStar’s commercial real estate database, which is the largest independently researched database of commercial real estate property information available online.
NAI Knoxville qualified as one of the top commercial brokerage firms in Knoxville based on total Leasing and Sales transactions closed during the year. In order to be selected for this honor, NAI Knoxville was evaluated against other commercial real estate brokerage firms active in its region by CoStar Group, and subsequently ranked among the top firms in the market. In addition, three of NAI Knoxville’s brokers, Brian Tapp, Steve Goldman and John Dempster, received the 2011 Top Broker Award from CoStar.
NAI Knoxville’s significant transactions that closed in 2011 are Belle Island in Pigeon Forge, Second Harvest Food Bank, Washington Ridge Apartments, Jackson Street Warehouse, Scott Recycling, Bull Outdoor Products, City of Athens Industrial Land, Miller Recycling, Neill Sandler Ford Dealership and Midlab.
“CoStar Group is very proud to recognize the preeminent brokerage firms and brokers who performed at the industry’s highest level by achieving remarkable sales and leasing success in 2011,” said CoStar Group Founder and CEO Andrew C. Florance. “These top performers truly represent the best of the best in the industry, and they deserve to be recognized for their proven deal-making abilities. We congratulate NAI Knoxville on this impressive professional accomplishment.”
The complete list of 2011 CoStar Power Broker Awards winners can be found at www.CoStarPowerBrokers.com.