Greene County’s land available for development now includes fairgrounds
SVN Interstate Brokers, a commercial real estate brokerage firm has announced it will coordinate the relocation of the Greene County Fair in Greeneville. The fair’s board of directors has agreed to list the current fairgrounds property with adjacent parcels to the north and east, which will constitute a 182-acre offering.
“This will be a multiyear project,” said lead broker John L. Johnson, CCIM, ALC, managing director of SVN Interstate Brokers near Atlanta. “Not only will we need to find a suitable new location for the Greene County Fair, but we will also have to find a buyer for the property who will be willing to delay any redevelopment until the fair has constructed new facilities and moved.”
The Greene County Fair has been in its present location since 1949. Rick Clark, president of the board for the fair, said the annual festival’s growth and the development surrounding the current location have necessitated a move.
“We recognize that our property is in the path of growth for Greeneville, placing a real premium on this location,” Clark said. “The fairgrounds property is the pin corner, with frontage on Fairgrounds Road and on the new Jeff Woods Memorial Drive. We are excited about the prospects and believe that the potential sale of the existing fairgrounds property presents an opportunity for growth of the fair.”
Said Johnson, “We plan to market this assemblage of prime properties regionally and nationally. We will contact major developers directly through our international network of SVN offices, as well as by working with all other commercial real estate brokerage firms. We certainly have relationships with many of the top developers, but no firm knows everyone. We proactively offer 50 percent of our commission to any broker who brings us a buyer.”
Scott Niswonger, owner of 53 acres contiguous to the fair property that’s part of the marketing plan, said Johnson’s familiarity with Greeneville and his professional accomplishments will serve him well in this endeavor.
“John Johnson brings a unique perspective to the effort,” Niswonger said. “Not only is he a highly accomplished national commercial real estate broker, but he grew up in Greeneville, he went to Greeneville High and graduated from the University of Tennessee. He owns property here, so he knows the local market very well.”
Greeneville Mayor W.T. Daniels said he is looking forward to the opportunities that are ahead for the town and the fair.
“The area is a prime growth location for Greeneville,” Daniels said. “The town’s recent $10 million investment in the Jeff Woods Memorial Drive provides great access and visibility for new development, which hopefully also means better facilities and parking for the Greene County Fair.”
Johnson said the project could take several years to complete, and he may take a multiple approach to marketing the property.
“This could easily be a five- to seven-year project to sell everything,” he said. “We intend to market the entire 182 acres as a package for a master planned development, but we may well have offers for smaller tracts as well.”