The Maury County Industrial Development Board has postponed a decision on whether to move forward with plans to develop a business park that would cover nearly 200 acres on Bear Creek Pike off Interstate 65 east of Columbia. Kelly Quimby at the Daily Herald has more on the need for partners to commit and the other hurdles county officials must clear.
And these problems don’t even begin to address the problem with the bedrock covering much of the potential site. Harris said the rock and topography present a “huge challenge” to the property’s development.
“We’re going to end up around over $50,000 an acre invested in this property,” Harris said. “We’re going to be able to potentially sell it for around $15,000 (per acre). It takes a lot of commitment from the governments to make that make sense.”
Users of Nashville-area industrial real estate signed on for 1.2 million square feet in the third quarter, a nice jump from a tepid Q2. Lease rates are rising steadily, too, but the research and brokerage team at Cassidy Turley say the absorption numbers need to be put into proper perspective.
While this number is impressive, it is inclusive of several short term deals, a trend we are currently seeing as companies have difficulty forecasting their long term plans while facing the headwinds of economic uncertainty. Short term leases are much easier to approve at the C-level than longer term financial commitments.
POSTDATA: WARRANTY DEEDS
- TIPTON, JOHN H JR; TIPTON, FRANCES ADAMS
- HARRIS, JUDY C
- BIRDWELL, MARIAN ESTELLE TRUSTEE; BIRDWELL CHARLES EDWARD AND MARIAN ESTELLE BIRDWELL REVOCABLE TRUST; BIRDWELL MARIAN ESTELLE REVOCABLE TRUST; CHARLES EDWARD BIRDWELL AND MARIAN ESTELLE BIRDWELL REVOCABLE TRUST; MARIAN ESTELLE BIRDWELL REVOCABLE TRUST
- SIMPKINS, W L JR; SIMPKINS, NANCY H