Knoxville, Tenn. (July 13, 2011) — The property that currently houses Knox County’s Solway greenwaste facility on Joe Daniels Road was sold at auction this morning for $2 million. Before the sale is finalized, it must be approved by the Knox County Commission.
Powell Auction & Realty conducted the sale, and Natural Resources Recovery, the current tenant, was the winning bidder for the 159 acre property off Oak Ridge Highway.
“I am very excited about this sale. This auction shows that, despite the economy, businesses are willing to invest in Knox County,” Knox County Mayor Tim Burchett said. “The sale of this property means Knox County is getting out of the mulch business and reducing the footprint of government, and that is a good thing.”
Once the sale is approved by Commission, NRR will close on the property and the title will transfer by quit claim deed.