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RCIDB Sells Jones Road Site in Roane Regional Business & Technology Park
On June 17, the Roane County Industrial Development Board (RCIDB), closed on one of the largest industrial sites in the Roane Regional Business & Technology Park (RRBTP). The TPA Group, a developer from Atlanta, Georgia, purchased the entire 40-acre Jones Road Site for $1.3M, with plans to build a 250,000 square foot speculative building, a total planned investment of $32M.
“There are three State Certified sites in Roane County, and we have sold two of the three within about a year,” said Vice President of Economic Development, Justin Snow, Roane Alliance, “not to mention, the amount of attention the Jones Road site is getting, now that we will have an existing building to offer, which is one of the top requests from new or expanding industrial prospect. We estimated and announced $21.5M in new investment in our industrial parks last year, but its actually closer to $41M, with this project bringing the largest investment.”
The Jones Road Site has undergone several phases through the years, to prepare and qualify as a certified site, and to make it more marketable. This included a direct-access, industrial grade road to the site that was completed in 2016; and a grading project completed in 2017, creating 17 flat, pad-ready acres that would accommodate a 200,000 sq. ft. building and room for future expansion. Both of these projects were funded through grants and partnerships with Roane County Government, the Tennessee Department of Economic & Community Development, and Tennessee Valley Authority.
“I am very excited to see this outcome and looking forward to the next phase of this site, when we welcome a new tenant,” said Chairman Jim Palmer, RCIDB. “Planning and investing for the last five years is what helped lead to this historic sale, which took many people and organizations to make it happen. I, along with the rest of the Industrial Board, look forward to maintaining this momentum, with more planning and investment to prepare other sites to be more marketable and competitive.”
Currently, the RCIDB is working on new investments for the County that include:
- Roane Specialized Services, the partnership between Roane Metals and Roane Transportation, purchased the 45-acre Cardiff Valley Certified Site in the Roane County Industrial Park (RCIP) and has broken ground and is in construction of their 50k sq/ft warehouse and corporate office;
- Hamilton Equipment Company, purchased around 6 acres on Jones Road in RRBTP, with plans to move their business to Roane County in a new 40k sq/ft fabrication shop;
- Howard Electrical purchased additional land in RRBTP to expand with a new 2k sq/ft warehouse; and
- Several offers have been made and are pending that include 1) an existing building and additional land on Pawnook Farm Road in RRBTP; 2) a five-acre parcel on Buttermilk Road in RRBTP, with plans to build at least a 30k sq/ft speculative building; and 3) adjacent land to Daycab’s existing location in RCIP with plans to expand their operations.
In addition to the prospect activity in RRBTP, there is quite a lot of activity with new industry coming to the East Tennessee Technology Park and Horizon Center, as well. In fact, with a recent announcement in April from Oak Ridge City, the 3rd and last Tennessee Certified Site in Roane County, will also be off the market when it is acquired by TRISO-X Fuel Fabrication Facility.
The Roane County Industrial Development Board is a partner of the Roane Alliance, along with the Roane Chamber and Roane County Visitors Bureau. The Roane Alliance mission is to create an environment and a unified voice that promotes job creation, economic development, enhanced quality of life, education, and workforce. To learn more about the Roane Alliance and its partners, please call 865.376.2093 or visit www.roanealliance.org and www.roaneecd.com.