Posts tagged Tennessee
An 18,000 SF, Class A office building formerly occupied by Community Tectonics Architects has been sold. Brokers handling the sale announced today that the former building was purchased by Caris HealthCare Services which will be occupying the building as their new Knoxville regional office. The buyer was represented by Maribel Koella CCIM, SIOR and Matthew Fentress RPA, CPM, CCIM of NAI Knoxville.
The property located at 10651 Coward Mill Road (near Hardin Valley and the Pellissippi Parkway) sold on April 26, 2013. The Seller was Master Builder Properties, LLC and the Buyer was Caris Healthcare L.P.
“NAI Knoxville is honored to have the opportunity to work with Norman McRea and the fantastic staff of Caris HealthCare Services in the acquisition of their new facility.” ~Maribel Koella CCIM, SIOR, and Principle Broker of NAI Knoxville
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]
Tennessee plans to open four offices abroad to help promote the state’s export business, with outposts in China, Mexico, German and the United Kingdom, Gov. Bill Haslam and the state Department of Economic and Community Development announced today.
Already, Tennessee industries export $30 billion worth of products annually, but that could grow substantially in the future with some assistance from the state, said Bill Hagerty, the department’s commissioner.
The initiative will be led by the department’s International Division, and it will be the first time since 1997 that the state has operated foreign offices “solely dedicated to advancing Tennessee exports,” the department said in an announcement. [The Tennessean]
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]
Contributed by: John Dempster, Broker, NAI Knoxville
The “Property Report” in the March 20, 2011, edition of The Wall Street Journal. discusses the unusually large number of malls being offered for sale across the US. Major mall owners are selling underperforming properties and using the proceeds to clean up their balance sheets. Of local interest, Simon Property Group has put Knoxville Center on the market. Green Street Advisors says that the industry average for B-grade properties is annual sales of $352 per square foot. The Knoxville Center at 80% occupancy has sales in the range of $285-330 per square foot. Big malls are frequently sold to local developers who reposition them as discount centers or for other uses. The offering price for the Knoxville Center was not reported. [read article]
The Kauffman Index of Entrepreneurial Activity issued a report this month naming Tennessee as one of the top ten states in the U.S. for entrepreneurial activity, corresponding with the report’s claims that entrepreneurial activity is generally highest in Western and Southern states.
The Kauffman Index of Entrepreneurial Activity by state indicates that 410 of every 100,000 Tennesseans are entrepreneurs. With a 0.14 percentage point change, the Volunteer State was also included in a group of states that the index says experienced the largest positive change in entrepreneurial activity rate over the past ten years. Since 1998, Tennessee has jumped 0.17 percent in entrepreneurial activity. [see index report]
NAI Knoxville brokers Brian Tapp and Trey Miller, along with David Devaney, of NAI Charter, have confirmed that “bank owned” Belle Island is under contract. A local Knoxville developer has big plans for the pedestrian friendly development. Belle Island was originally designed to be a one-of-a-kind “entertainment village” in Pigeon Forge, TN combining traditional Southern charm and hospitality with unique shopping, dining and entertainment experiences. [read more]
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.
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.
Brian Tapp and Trey Miller of NAI Knoxville have listed a portion of Belle Island Village in Pigeon Forge. Read Knoxville News Sentinel [article].