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20 acre site with three buildings in Bethal Valley Industrial Park in Oak Ridge, TN. Tenant is Memphis based Barnhart Crane & Rigging, a strong national company that leased site in 2004. Extended lease in 2009 for 10 years at $126K (NNN) average. Since 1969, Barnhart Crane & Rigging has been providing innovative solutions to complex lifting and transportation challenges faced by heavy industry – from power generation to petrochemical to renewable energy, and beyond. With over 20 branches across the U.S., Barnhart has one of the strongest equipment networks in the nation.
The federal government projects at Oak Ridge the city's principal economic activity and one of the biggest employers in the Knoxville metropolitan area. The Department of Energy owns the federal sites and maintains a major office in the city. Oak Ridge National Laboratory is the largest multipurpose lab in the Department of Energy's National Laboratory system, and is also home to the Spallation Neutron Source, a 1.4 billion dollar project completed in 2006, and "Jaguar," the world's most powerful scientific supercomputer that has peak performance of more than one quadrillion operations per second. The Y-12 National Security Complex is a component of the U.S. nuclear weapons complex. Bechtel Jacobs is the Department of Energy's primary contractor conducting an extensive program of decontamination and decommissioning, environmental cleanup, and waste management that aims to remove or stabilize the residues remaining from decades of government production and research activities. - Number of buildings: 3 - Building condition: Good
The typical asking rate per listing is in the $20's per square foot per year. The Oak Ridge region is seeing a a rise in rates. In the last 3 months, the median rate increased $9 per sqft per year. That's a 54% increase in rent.
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