Brentwood, Tenn. - Crye-Leike Commercial of Brentwood, Tenn. has sold a 114,000-square-foot manufacturing plant on a 13 acre tract in Milan, Tenn. to Southern Source Tool & Manufacturing, the world-wide contract packager and distributor of replacement parts.
The property, located at 2008 Kefauver Drive in Gibson County, was owned by Genesco, Inc. of Nashville, Tenn. and served as its Volunteer Leather plant. Genesco (NYSE:GCO) is a marketer of branded footwear and accessories selling in more than 1,000 retail stores in the United States.
Commercial sales associate Bob Pickard of Crye-Leike Commercial in Brentwood, Tenn. facilitated the sale on behalf of both the buyer and seller.
"My longstanding career of 29 years with Genesco, Inc., which included a period as chief engineer of its manufacturing and warehouse operations, definitely contributed to my understanding of the property and finding the right buyer," says Pickard. "But, credit goes to the Milan Chamber of Commerce and its executive director, Linda Schrader, who introduced me to Southern Source's president and owner, Rufus McPeak."
McPeak, who lives in Dresden, Tenn., has additional plants in Milan, Dresden and Greenfield that employ over 250 people. His plants in Milan and Greenfield do contract packaging only. The one in Dresden does tool and die work and world-wide distribution.
"Contract packaging involves receiving bulk packages of goods and repacking them into single items ready for retail sale," says McPeak. "We handle millions of pieces annually. Items repacked come in all shapes and sizes, from a refrigerator door to small nuts & bolts."
"I was very anxious to see this empty facility reopen in Milan," says Schrader. "Now that's one less empty industrial building here." The property has remained closed for more than a year. The building was built by Trostel Industries in the 1960s as a o-ring manufacturing plant.
Pickard has been a commercial sales associate of Crye-Leike Commercial for the past five years, specializing in the sale and lease of office, warehouse and manufacturing space as well as tenant representation.
Crye-Leike Commercial (http://www.crye-leike.com/commercial/) is a full service commercial real estate company and division of Crye-Leike, Realtors, the nation's 10th largest real estate company. Crye-Leike Commercial offers business and investment real estate services from its four regional commercial offices in Memphis, Nashville, Murfreesboro and Chattanooga. The commercial brokers of Crye-Leike Commercial have a 20-year history of providing comprehensive brokerage, leasing, site selection and investment real estate services to its clients.
Crye-Leike Commercial Handles Genesco Sale to Southern Source in Gibson County, Tenn.
September 25, 2003