A large ridge top tract of land that features panoramic views and was once proposed as the site of a Target retail development is now for sale. The land, which is also known as The Summit, is on Pine Ridge along South Illinois Avenue between Scarboro Road/Lafayette Drive and Centrifuge Way. A 30,000-square-foot building on the property is pictured above on Wednesday, Aug. 15, 2018. (Photo by John Huotari/Oak Ridge Today)
A building that is about 30,000 square feet and was once used to store documents on Pine Ridge for the Y-12 National Security Complex is under contract and in “due diligence,” according to an executive involved in the potential sale.
Also under contract is about 15 acres on Pine Ridge, also known as The Summit, a large piece of property that offers panoramic views from a ridge top above South Illinois Avenue in south Oak Ridge.
Noah Myers, principal broker with CornerStone Realty, said he hopes there is a closing on the building and land purchase this fall.
Separate from that potential purchase, there is about 85 acres of open land on Pine Ridge that is for sale for $3.5 million. It’s a mix of office and industrial property, Myers said. Utilities are in place, including roads, electricity, water, and sewer.
Myers said different parties are putting together conceptual plans, such as for residential, multi-family, commercial/office, and industrial developments.
He cited a corporate campus as one potential property use. Pine Ridge is not a typical type of property, but it is close to Knoxville and McGhee Tyson Airport in Blount County, Myers said.
CornerStone Realty is selling the property for TNBANK, which is based in Oak Ridge and now owns the property. The site, which was cleared and graded more than a decade ago, was once proposed as the site of a Target retail development.
Tom Tuck of TNBANK has previously said the site could be considered “pad ready.”
More information will be added as it becomes available.
A large ridge top tract of land that features panoramic views and was once proposed as the site of a Target retail development is now for sale. The land, which is also known as The Summit, is on Pine Ridge along South Illinois Avenue between Scarboro Road/Lafayette Drive and Centrifuge Way. It’s pictured above on Wednesday, Aug. 15, 2018. (Photo by John Huotari/Oak Ridge Today)
A large ridge top tract of land that features panoramic views and was once proposed as the site of a Target retail development is now for sale. The land, which is also known as The Summit, is on Pine Ridge along South Illinois Avenue between Scarboro Road/Lafayette Drive and Centrifuge Way. It’s pictured above on Wednesday, Aug. 15, 2018. (Photo by John Huotari/Oak Ridge Today)
A large ridge top tract of land that features panoramic views and was once proposed as the site of a Target retail development is now for sale. The land, which is also known as The Summit, is on Pine Ridge along South Illinois Avenue between Scarboro Road/Lafayette Drive and Centrifuge Way. It’s pictured above on Wednesday, Aug. 15, 2018. (Photo by John Huotari/Oak Ridge Today)
A large ridge top tract of land that features panoramic views and was once proposed as the site of a Target retail development is now for sale. The land, which is also known as The Summit, is on Pine Ridge along South Illinois Avenue between Scarboro Road/Lafayette Drive and Centrifuge Way. It’s pictured above on Wednesday, Aug. 15, 2018. (Photo by John Huotari/Oak Ridge Today)
A large ridge top tract of land that features panoramic views and was once proposed as the site of a Target retail development is now for sale. The land, which is also known as The Summit, is on Pine Ridge along South Illinois Avenue between Scarboro Road/Lafayette Drive and Centrifuge Way. It’s pictured above on Wednesday, Aug. 15, 2018. (Photo by John Huotari/Oak Ridge Today)
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