It Gets Better

Tuesday I ran the story that LCUB could/should buy the old Yale building as several of you had suggested. Well, the fact of the matter is, it makes more since the more you read about the building.
 
The 222,417 square-foot building located on 17 acres in the Fort Loudoun Industrial Park is priced at just over $15 per square-foot. 3.4 million dollars is the asking price and according to a News Sentinel report yesterday, the building has a lot of upgrades that should make it appealing to LCUB.

The News Sentinel reports that the property consists of several buildings and has 335 marked parking spaces. The main building has more than 185,317 square-feet of manufacturing space and 21,420 square-feet of office space. Recent updates include polished concrete floors in the office space and epoxy coating on the warehouse floor. Itís centrally located, has new high efficiency lighting and the office space has been recently updated. Below are some of the specs on the property.

Description

Well maintained manufacturing facility with heavy power in Lenoir City, TN. 222,417 Square Feet on 17.03 acres. Recent updates include polished concrete floor in the office, epoxy coating on warehouse floor, and new T-5 high efficiency fluorescent lighting.

Main Bldg: 206,737 sf - Office: 21,420 sf - Mfg: 185,317 sf
Electrical/Maintenance Bldg: 5,992 sf
Hazardous Mat. Storage Bldg: 3,000 sf
Wastewater Treatment Bldg: 4,288 sf
Storage Bldg: 2,400 sf

3.4 million dollars as opposed to 20 million dollars for the proposed new building, not including the land. How could this not be a great idea? Even if they had to spend a few million dollars to upgrade/remodel, they would still be millions ahead. The Yale building is located right beside the current LCUB facility which would eliminate having to move all the big equipment and materials. It is also adjacent to the brand new city garage. Another big benefit is, it would keep the now largest business in the city in the historic down town area and we know how hard city officials have worked to keep down town alive.

In fairness, the Yale building might not look as fancy as a brand new twenty million dollar building but is this about ascetics or practicality? LCUB officials main complaint with their old building was that it was just too small. Well, the Yale building certainly would never be too small and as one councilman stated, they need space to grow, they would have plenty of room for growth.  

If our city leaders really have the rate/tax payers best interests at heart, how could they pass up a deal like this.

Besides, does it really make since to have a big industrial utility industry located right in the middle of the next Turkey Creek shopping center?

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12/5/13