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.
JEA’s board of directors present update on Blue Oval City; approve 5 resolutions
While five resolutions were approved during the Jackson Energy Authority’s board of directors monthly meeting at the Tennergy Center, the future tenant at the Memphis Regional Megasite in Haywood County was also discussed.
“Today’s meeting provided the board an opportunity to hear updates on economic development activity, with an emphasis on Blue Oval City,” said Monte Jones, chairman of the board, “JEA is well positioned for future growth due to the board’s support of initiatives presented by management over the past several years.
“We also discussed and approved several resolutions today that continue to improve services to our community.”
The Board approved resolutions –
1) Authorizing a Miscellaneous Electric, Gas, Water, Wastewater and Telecom Directional Boring with Jackson Boring & Trenching, LLC, not to exceed $571,750.
2) Authorizing the purchase of replacement vehicles. The Board ratified the purchase of nine vehicles from Lonnie Cobb Ford. Each vehicle, a 1/2 ton 4 Wheel Drive Extended Cab, has a cost of $34,207, and delivery is expected in April. (Four dealerships were contacted by JEA)
3) Authorizing the purchase of one new 15-inch brush chipper for the Electric Division. The brush chipper, which is being purchased from Vermeer Midsouth of Cordova, is priced at $73,460.28.
4) Authorizing a contract with Insituform Technologies for Wastewater Division rehabilitation. Following a bidding invitation, Insituform Technologies LLC was awarded the contract for $146,908.
The bid was $5,000 less than Granite Inliner from The Woodlands, Texas.
5) Authorizing adoption of telecommunications service rate adjustments.
The building, not the business – commercial property on Vann Drive sells for $1.5 million +
Commercial property occupied by Sun Tan City, 1478 Union University Drive, has been sold.
William Cefalu TR, William Cefalu Revocable Trust purchased the property from STC Investment Group for $1,556,000.
The transaction adds to a growing list of commercial property sales in Jackson and Madison County.
Earlier this month, Lucky’s Pizza Huts LLC, purchased property occupied by Arby’s Restaurant, 1984 South Highland Avenue, from BC North Partners for $1,555,555.
Arby’s opened its fourth and newest restaurant in Jackson at the South Highland Avenue address, January 31, 2022.
In February, property home to a Slim Chickens franchise, 6 Channing Way, sold for $3,120,000.
Slim Chickens opened November 8, 2021.
Also in February, property home to a Wendy’s restaurant at 873 Vann Drive sold.
Cactus Development Partnership purchased the property from WRG Realty for $2,711,115.
The building was renovated and reopened for business in March 2019.
Old Town Spaghetti Store selected for episode of ‘America’s Best Restaurants’
Producers of ‘America’s Best Restaurant’ were at the Old Town Spaghetti Store to film an episode, Wednesday.
A date and network for the production has not been announced.
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(BUCHANAN REALTY GROUP CLICK HERE sponsors Strictly Business)
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