Industrial
Editorial: Jefferson officials should approve megasite funding
Feb 11th
The proposed industrial megasite in Jefferson County is facing a megavote today when the Jefferson County Commission meets in a special session to consider initial funding.The $442,000 appropriation would provide start-up funds for seeking megasite certification for the project.
Commissioners should approve the funding and move forward with the project, which would put Jefferson County — and the region — in play as a location for a major automobile plant or other manufacturing facility.
According to a study by Younger Associates, a certified megasite in Jefferson County has the potential to create 4,900 jobs and generate more than $2.7 billion for the regional economy each year. [Knoxville News Sentinel]
84 Lumber Sells WestBridge Business Park Facility
Mar 30th
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.”
Nashville Firm Buys Second Harvest Facility in Knoxville
Jan 18th
The former warehouse and distribution center for Second Harvest Food Bank of East Tennessee on Delaware Avenue in Knoxville has been sold to Onsite Environmental, an environmental engineering firm based in Nashville, Tennessee.
The sale was the result of Second Harvest’s purchase of a new and significantly larger facility in Alcoa, Tennessee. NAI Knoxville represented Second Harvest in the purchase of the new facility and the sale of the building and land in Knoxville. Onsite Environmental was represented by Memphis Commercial and Industrial Real Estate.
“NAI has been a valued and expert partner in these transactions,” said Elaine Streno, Executive Director of Second Harvest. “They worked diligently to find a suitable facility that allows us to meet the growing demand for food by people at risk of hunger in the 18 counties of East Tennessee we serve, and they have done a great job as our listing agent for the successful sale of the Delaware Avenue facility,” she added. “Second Harvest is thrilled and proud that NAI Knoxville was able to sell our Knoxville Distribution Center where we resided for 18 years. Thanks to this community’s support, we went from providing 2 million pounds of food in 1993 to 17 million pounds of food in 2011, providing meals throughout our 18-county service area. That kind of growth demanded we relocate, and we are grateful for everyone’s support as we start a new chapter for Second Harvest of leading the fight against hunger from our new facility in Blount County.”
134,000 SF Warehouse Sold in Athens, TN
Oct 31st
Knoxville, TN, October 31, 2011 – NAI Knoxville is pleased to announce Jackson Street Warehouse, LLC’s purchase of a 134,000 square foot warehouse facility in Athens, TN. Townsend Collins, SIOR, John Dempster, and James Roberson, CCIM, of NAI Knoxville brokered the sale of the building at 1930 N. Jackson Street.
Through River City Logistics, Jackson Street Warehouse will use the building to provide third-party logistics services.
For more information contact: James E. Roberson, Jr., CCIM, 865.777.3038, jroberson@naiknoxville.com
77,540 – SF Distribution Center Sells in Tennessee
Feb 3rd
Alcoa, Tennessee (February 2, 2011) – A class A office/showroom and distribution center has been sold. Brokers handling the sale announced today that the former showroom, corporate headquarters and distribution center for the Walker Supply Company off Middlesettlements Road sold on January 27, 2011 for $4,000,000. The buyer is Second Harvest Food Bank of East Tennessee who is moving their food service distribution center which serves 18 counties in East Tennessee. The buyer was represented by Maribel Koella CCIM, SIOR and Brian H. Tapp of NAI Knoxville and the seller by Mike Price and Jerry Holloway with Oliver Smith Realty.
“NAI Knoxville is honored to have had the opportunity to work with the fantastic staff and volunteers at Second Harvest Food Bank in the acquisition of their new facility.” Maribel Koella CCIM, SIOR, and Principal Broker of NAI Knoxville.
“This facility was completed in 2008 and is in excellent condition. The 77,540 square foot building has an ultra modern 50,000 square foot warehouse with 32’+ clear ceiling heights, nine dock doors and two large drive in doors which will make it quicker to ship and receive food. The 10,570 square foot retail/showroom is well suited for the agencies that come to Second Harvest to shop and the 9,650 square feet of class A office space is in move-in condition for the staff. This building will enable Second Harvest to efficiently store, sort, ship and receive food to help hungry people in these trying times.” Brian H. Tapp, Industrial Sales and Leasing, NAI Knoxville
This is the 25th industrial property either sold or leased year to date by NAI Knoxville.
NAI Knoxville Negotiates Purchase on Behalf of Keller Group
Jan 17th
Midlab expanding into new location in Athens
Knoxville, TN, January 17, 2011 – On behalf of Midlab, Incorporated, Townsend Collins and James Roberson of NAI Knoxville, Realtors, are pleased to announce the sale of a 100,000 sq. ft. building on 32.41 acres in Athens, Tennessee. Midlab will be expanding into the building which is located at 3000 George R. Price Blvd. Collins and Roberson of NAI Knoxville represented the buyer and Lee Harper with Grubb & Ellis | Hudson Companies represented the seller, Texas Hydraulics, Inc.
Midlab is a worldwide leader in creating and growing distributor owned ‘National Brand’ chemical product lines that provide more affordable, profitable and environmentally conscious choices for its partners.
Midlab has an umbrella of offerings spanning the most creative brand creation team, a bevy of winning formulas, affordable pricing, on-the-street support and much more.
Midlab has been manufacturing and growing ‘National Brands’ since 1984. The unique formulas in their product offerings cover every aspect of cleaning, from the everyday to the highly specialized cleaning task. Midlab provides the most choices. Product application requirements are satisfied with liquid or powder in both ready-to-use and concentrated formats as well as aerosol. Their packaging choices (single packet, quart, gallon, pail, drum, tote, proprietary and non-proprietary dispensing systems) also open up different markets for their distributor partners.
Both the buyer and seller of the facility expressed appreciation to the McMinn County Economic Development Authority for its assistance with the transaction, and for providing critical information about the community in order for Midlab to make an informed decision about the plant’s purchase.
Jack Hammontree, Executive Vice President of the Authority, said that the capital investment made by the company in building and equipment is very much appreciated, but that the jobs that will be created in McMinn County, now and in the future, are the most important element associated with the County’s new corporate citizen.
NAI inks big Sublease in Clinton
Oct 4th
Eagle Bend Manufacturing has leased an 86,880-square foot industrial building. Read Josh Flory’s Property Scope [article]. Congratulations to our agents: James Roberson, Townsend Collins & Brian Tapp!
Advantages to Rail on Industrial Properties
Sep 8th
Having rail capabilities available on industrial properties may seem “a little old school” but having access to move your product by rail provides some significant benefits not only to the manufacturer/shipper but to the general population and the economy as a whole. [more]
