Posts tagged Industrial
Oak Ridger building sold; paper to continue to publish
Jun 17th
Knoxville News Sentinel, knoxvillebiz.com
While the Oak Ridger building has been sold, the five-day-a-week newspaper, a fixture in the Atomic City for 64 years, will continue to publish, the publisher said Friday.
Oak Ridger editor and publisher Darrell Richardson said the property on Oak Ridge Turnpike, on the market since February 2009, was sold Thursday to an entity titled SBR Associates LLC. [full article]
NAI Knoxville’s Sam Tate, CCIM represented the seller in the transaction.
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]
Celebrating 30 Years of Business in 2013!
Jan 15th
NAI Knoxville is celebrating 30 Years of Business in 2013!
NAI Knoxville completed commercial and industrial real estate transactions for 2012 in excess of $62 million, as stated by Maribel W. Koella, SIOR, CCIM and president. She reported that NAI Knoxville had closed over 104 commercial transactions to reach this total.
Notable transactions include Pigeon Falls in Pigeon Forge, EET Corporation, Kimberly-Clark Financial Services, ITT Education Services, Denso Manufacturing Tennessee, multiple Ruby Tuesday, Inc (land and restaurant) dispositions, Office Furniture Outfitters, 84 Lumber in Westbridge Industrial Park, ProTech Metal Finishing in Horizon Center, Iron Mountain, Niles Ferry Industrial Park acreage and Martin Marine.
NAI Knoxville’s current listing inventory is in excess of $153 million.
Our company has been in business for 30 years and has a staff of eight full-time brokers, six holding the CCIM designation, two holding the SIOR designation, one holding the MRED designation and one holding both RPA and CPM designations.
Industrial Brokers ‘Bullish’ on 2013 Prospects
Dec 17th
(GlobeSt.com, by Jennifer LeClaire) – From financing to development—and everything in between—the sentiment among industrial players can be described in a single word: bullish. Brokers, developers, and lenders all used the term repeatedly in discussions about the short-and long-term prospects for industrial real estate during RealShare Industrial in Miami, Fla. {read more}
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.”
NAI Knoxville Completes $70 Million in Transactions in 2011
Jan 24th
NAI Knoxville completed in excess of $70 million of commercial real estate transactions for 2011 said its president, Maribel W. Koella, SIOR, CCIM. She reported that NAI Knoxville had closed over 95 commercial transactions to reach this total for 2011.
NAI Knoxville sold $15,251,415 of warehouses and industrial properties, $2,865,000 of office properties, $16,794,700 of retail properties, $14,212,000 of multifamily properties and $4,350,750 of vacant land.
NAI Knoxville leased $3,657,110 of warehouses and industrial properties, $9,295,840 of office properties and $3,649,248 of retail properties.
Notable transactions include 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.
NAI Knoxville’s current inventory is in excess of $73 million and includes over 2.5 million square feet.
The 29-year old company has ten full-time brokers, six holding the CCIM designation, two holding the SIOR designation, one holding the MRED designation and one holding the RPA and CPM designations.
NAI Knoxville is a member of NAI Global which has members in over 350 offices and 55 countries and has an annual commercial transaction volume of $45 billion making it the world’s largest managed real estate network.
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
Press Release | NAI Knoxville Brokers Sale of Industrial Land to the City of Athens
Jul 21st
Athens, TN, July 2011 – On behalf of Textron, NAI Knoxville is pleased to announce the sale of 86 acres of rail served industrial land. The property is located off of Charles Redfern Drive across from the former Collins & Aikman plant.
The buyer was the City of Athens who purchased the property from Textron to use for economic development for industrial prospects.
The transaction was handled by James Roberson, CCIM and Townsend Collins, SIOR of NAI Knoxville. Jack Hammontree, Executive Vice President of The McMinn County Economic Development Authority assisted with the transaction.
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.
