Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, August 3, 1994 TAG: 9408030074
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE: RON BROWN STAFF WRITER
DATELINE: FINCASTLE LENGTH: Medium
According to court records, the county paid $795,000 last week to buy the tract, which is along U.S. 11 between Pepsi Cola Bottling Co. of Roanoke and where Lawrence Transportation Systems Inc. is building its new terminal.
AEW Inc., of which Bill Elliot of Davis H. Elliot Co. Inc. in Roanoke is principal, sold the parcel .
The county Board of Supervisors authorized the purchase in May.
The new industrial site fronts on U.S. 11; a Norfolk Southern Corp. railroad track runs along its rear property line.
"It's perfectly sited," County Administrator Gerald Burgess said.
He said the tract is centrally located between the Hollins and Cloverdale exits of Interstate 81. It is also within a five-minute drive of U.S. 460.
The purchase gives the county government about 150 acres of industrial property. The county will negotiate a purchase price with prospective industries based on the amount of taxes the business would bring into the county.
Lawrence Transportation, which is on about 17 acres in the corner of the new industrial site, has obtained building permits for construction valued at $1.35 million for a warehouse and storage building.
Burgess said Lawrence managers have indicated that they hope to move from Roanoke to their new site before winter.
"They're moving right along," Burgess said. "Dirt's flying."
Burgess said the county is just starting engineering work on the undeveloped land to determine the best way to locate access roads and water and sewer lines. Subdivision of the property into industrial lots will be determined by the type of businesses that are interested in buying property.
"We'd sell 104 acres to the right-sized industry," Burgess said.
by CNB