Posts tagged Sold
Teaster Lane Corridor Continues to Drive Tourism Development in Sevier County
Pigeon Forge, TN, April 2, 2012 — Barker Industries, Inc. of Pikeville, KY purchased Pigeon Falls, LLC, which owns 113.65 acres of land on Teaster Lane in Pigeon Forge, TN, for restaurant, retail and attractions. The majority of the project would be anchored by the Cal Ripken Experience which hosts youth baseball tournaments and camps.
NAI Knoxville is the exclusive representative of Riverwalk Park, LLC, which owns an additional 24 acres located at the corner of Jake Thomas Road and Teaster Lane. The site is across the street from Barker Industries and is adjacent to a new 232,599 square foot event center to be completed by the City of Pigeon Forge in 2013. The events facility includes 112,000 square foot exhibit hall and supporting amenities. Known as the LeConte Center, the complex will connect to a 3,000 car parking lot and trolley depot, as well as the mile long Riverwalk along the Little Pigeon River. NAI Knoxville also represented Regions Bank in the sale of the retail portion of Belle Island Village in 2011.
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.”
SEVIER CO – Trey Miller, MRED and Brian Tapp, CCIM of NAI Knoxville recently announced the sale of Belle Island Village in Pigeon Forge, TN to LeConte Properties LLC. NAI Knoxville partnered with David F. DeVaney, SIOR, CCIM, and President of NAI Charter in Chattanooga, TN.
Belle Island Village is a 280,000 square foot festival themed retail development that sits on 18.06 acres in between the Pigeon Forge Parkway and Teaster Lane. Belle Island Village sold for $10,500,000 on November 18th, 2011 and NAI Knoxville represented the seller, Regions Bank. Belle Island is approximately 70% complete and is slated for specialty retail shops, a range of restaurants and entertainment venues.
Pigeon Forge is known for its entertainment and attractions which include, Dollywood, Wonder Works, Dixie Stampede and outlet malls.
Brian and Trey were recently hired to market Riverwalk, LLC and Pigeon Falls, LLC which is the remaining 138 acres of undeveloped land that neighbors Belle Island Village and the Pigeon Forge Events Center. This property is strategically located next to the new LeConte Events Center and future Jake Thomas Boulevard Extension which will connect the Parkway with the entrance to Dollywood. Brian and Trey feel that many retail, entertainment and hospitality uses will prove successful on this neighboring land. They are focusing their efforts on locating parties that are interested in constructing an Events Center Hotel located directly across the street from the LeConte Events Center.
Trey Miller and Brian Tapp have successfully completed and continue to work on several major real estate owned projects for lenders including Capital Bank, FSG Bank, Green Bank, Mountain National Bank, Nexity Bank and Regions Bank.
NAI Knoxville is a member of NAI Global. NAI has members in over 300 cities and 40 countries giving NAI Knoxville the ability to service client’s real estate needs anywhere in the world by providing local knowledge with international reach.
NAI Global has an annual commercial and industrial transaction volume of $40 billion dollars and is the world’s largest managed real estate network.
Knoxville News Sentinel (http://www.knoxnews.com/news/2011/nov/21/belle-island-sale-finally-goes-through/), The Mountain Press (http://themountainpress.com/view/full_story/16501403/article-Belle-buy-big-business-for-Forge?instance=most_popular), WATE (http://www.wate.com/story/16095958/belle-island-village), WBIR(http://www.wbir.com/news/local/story.aspx?storyid=192269), PigeonForge.com (http://www.pigeonforge.com/blog/?p=2352), The Chattanoogan (http://www.chattanoogan.com/articles/article_214336.asp)
The NAI Knoxville Multifamily Team of Steve Goldman, John Dempster and Roger Denny represented the seller in the listing and sale of the Evergreen Apartments, a thirty-unit, all-brick complex in Fountain City. The transaction closed on November 30, 2011, just 62 days from listing to closing. Several challenges were overcome in the process, including getting a new roof paid by the insurance company for the benefit of both buyer and seller. This took a true team effort by the buyer, seller and the agents involved. This brings to 357 the total number of units sold this year by the NAI Knoxville Multifamily Team.
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, email@example.com
Washington Ridge, a 248-unit apartment complex on Washington Pike, has sold to C. J. Lombardo Company of New Jersey. The buyer was represented in the transaction by Steve Goldman, CCIM and John Dempster, apartment specialists with NAI Knoxville. The undisclosed seller was represented by Larry Ochab of Pinnacle Realty Management Company of Maitland, FL. The new owners will rename the property Spring Meadow.
Goldman says the twenty-year-old apartments are close to the Knoxville Center Mall and are consideredvery nice class B apartments. The units are spacious and many even have fireplaces. The complex is on a well-landscaped, 19 acre property. Lombardo also owns and manages over 3,000 apartment units and in 2008 acquired the 186-unit Deane Hill Apartments adjacent to Knoxville’s West Town Mall.
This is the second significant multifamily property sold by the NAI Knoxville team recently, having represented the seller of the 100-unit McKenzie Acres Apartments in Oak Ridge which sold in November.
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.
ROANE CO – James Roberson and Townsend Collins, brokers at NAI Knoxville, brokered the sale of 1.72 acres of undeveloped land at the I-40 Midtown exit. The parcel at 1662 Roane State Hwy, Harriman, is being developed for medical use. The sale closed on 5/28/2010 for $375,600.
NAI Knoxville brokers, Roger Denny and Chip Miller have brokered the sale of the former Texaco gas station and convenient store located at the corner of Kingston Pike and Watt Road to Pilot Corporation. The sale included the 3,300 sf c-store plus equipment. The sale closed 6/4/2010 for $710,000. Brad Butcher, Senior Real Estate Manager with Pilot, said,”It was a great opportunity for us to expand into a rapidly growing community which has the potential for long-term growth and continued stability.”