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.
The TPA Group, a developer from Atlanta, purchased the entire 40-acre Jones Road Site for $1.3 million with plans to build a 250,000 square foot speculative building, a total planned investment of $32 million.
“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 $21.5 million in new investment in our industrial parks last year, but it’s actually closer to $41 million, 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.”