Cookeville To Consider Selling Two Highlands Business Park Lots

Cookeville City Council will consider selling two lots in the Highlands Business Park.

The land is set to be developed by the Hollingsworth Company, which also developed the Ficosa building in the Business Park. Community Development Director Jon Ward said the lots will serve as “spec” sites for potential future industries.

“This is an opportunity to add spec buildings to our inventory we don’t have any modern buildings to market really,” Ward said. “Most RFIs that we receive are requests for existing buildings. Supply chain and everything have got people looking for that option first.”

City Manager James Mills said the pricetag sits at some $1.1 million. Because the Highlands Business Park is jointly owned by the city and the county, the payment will be split 50/50. Mills said the sale also requires the approval of the Putnam County Commission and will be on this month’s agenda.

Mills said preliminary plans for the sites include a 152,000-square-foot building on one lot and the other is a 227,000-square-foot building. He said both have the option for expansion as well.

“The business park has covenants that must be met they’ll have to meet in terms of what materials can be used, materials, and so forth,” Mills said. “They understand that and they’ll be required to comply with all of the covenants required in the Highlands Business Park. This is also subject to the County’s approval.”

Ward said there is no current time frame for when the company will get the buildings up and running. He said developers are currently doing due diligence studies on the property.