Strictly Business - BUCHANAN REALTY GROUP highlights this week's activity

Strictly Business – BUCHANAN REALTY GROUP highlights this week’s activity

Buchanan Realty Group CLICK HERE located in Hamilton Hills Shopping Center, 621 Old Hickory Blvd., sponsors Strictly Business, a weekly column that takes a look at a few of this week’s business highlights.

The Buchanan Realty Group – (731) 300-3071 – provides commercial real estate services throughout Tennessee. The group specializes in leasing, tenant representation, investment sales and acquisition – concentrating on retail, hospitality, c-store, medical, industrial and multi-family sectors.

Georgia-Pacific Dixie Jackson facility holds groundbreaking

Ground was broken Friday on a 900,000-square-foot disposable tableware manufacturing plant in Jackson.

The Georgia-Pacific Dixie Jackson plant will make disposable plates, bowls, platters, and cutting boards, operating around the clock 362 days a year. The new Jackson plant will be the first plant the company has built in 30 years.

Georgia-Pacific’s $425 million investment is the largest single investment in the history of Jackson.

There are currently six Georgia-Pacific facilities in Tennessee employing 460. The new Jackson plant will hire 220. Since 2011, the company has invested $250 million in Tennessee.

“Companies are looking for communities that are a good fit,” said Kyle Spurgeon, president of The Greater Jackson Chamber of Commerce. “Communities that are successful are looking for companies that are a good fit. Georgia-Pacific Dixie Jackson is a good fit for Jackson and Madison County.”

Tennessee Gov. Bill Lee attended the event, and commented on the growth in the state, saying he has an obligation to ensure that roadways and infrastructures of existing areas are prepared for the future.

The Jackson city and Madison County mayors, along with local and state elected officials, were also on-hand for the groundbreaking ceremony, held on the campus of Jackson State Community College.

The new plant will be located on 241 acres west of the city near Airways and Fiberglass Road. Entry to the area will require a new roadway.

Dixie Jackson plans to begin recruiting, hiring and training employees next year, with an opening scheduled for mid-2024.

Construction continues on new 264 unit apartment complex in The Columns Phase III

A new 264 unit apartment complex is under construction in the regional shopping development known as The Columns Phase III, situated at the intersection of Interstate 40 and U.S. Highway 412 – Vann Drive at Country Club Lane – which is the final development phase for this development and is designed to provide opportunities for not only retail, but also medical and residential – multi-family and hospitality – uses.

Consisting of 11 buildings – 24 units per building – the apartment complex will offer 1-2- & 3 bedrooms.

Phase I and II contains a large variety of national, regional, and local retailers, restaurants and offices.

Phase I and II draw both regional shoppers and national travelers to over 3,000,000 square feet of retail, restaurants, entertainment and hotels.

The final phase of the Columns expands upon West Tennessee’s premium Commercial l retail development.

This development will represent an opportunity for regionally accessible shopping of varying scales.

From small local shopping and regional draws to national boxes, Columns III is planned to support a variety of retail and shopping formats.

Planning Commission approves request for new single family residential district in Traditions Subdivision

Consideration of a final plat for Traditions Subdivision – Section 8 – comprising of 16 lots on approximately 5.43 acres on Livingston Way, was approved by the Jackson Municipal Regional Planning Commission during its monthly meeting at Jackson City Hall, Wednesday.

Located off Pleasant Plains Road near Ashport Road, the single family residential district was submitted on behalf of Jerry Winberry by Surveying Services, Incorporated.

Hatchetts offer FHU Business students a $1 million experience

Henderson, Tennessee – Why would a couple decide to underwrite a $1 million investment fund to be managed by a group of college students? For Rob and Rachel Hatchett, the decision to invest in Freed-Hardeman University students sprang from a desire “to mentor young believers as they grow in their faith and grow as future business leaders.”

“There is a war for the hearts and minds of young adults,” Rob said. “We want them to know they can be successful in business or any profession, while choosing Jesus as Lord of their lives every step of the way.”

According to a press release from Tajuana Cheshier – The Bramblett Group – in managing the $1 million investment, students will research potential stock buys, present their findings to the whole group, make recommendations for purchase and defend their decisions.

The entire team will vote to determine which stocks to invest in. At the end of a year of buying and selling, the balance sheet will be checked. If the fund has made money, the Hatchetts will share a portion of the profits with the FHU College of Business. If the fund has lost money, that amount will be deducted from future years’ earnings until the loss is repaid.

FHU’s investment team began in 2007, when Jim Clayton, co-founder of Clayton Homes and chairman of Clayton Bancorp at the time, provided the initial investment. Since then, it has generated $703,796 for the FHU College of Business Finance Program. These funds are used to strengthen the program through technology initiatives, student experiences, career preparation, guest speakers and other innovative ways. Total distribution stands at $1,376,507.

Real estate market report – Jackson & Madison County

According to the Multiple Listing Service

New construction homes sold in November – 5

Number of active listings in November – 192

Average days on market in November – 22

Number of homes sold in November – 79

Median sales price in November – $225,000

Year To Date:

Number of homes sold – 1,161

Average days on market – 19

Median sales price – $241,500

New homes sold – 128