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Renaissance building draws tenants

The first building of the Renaissance|Faragut development by Myers Brothers Holdings has been completely contracted for use.

R. Knick Myers, one of the developers and partner with his brother, Noah Myers, said the first building in the development has been almost completely contracted for use, even though the building has yet to be completed.

Myers said the first building is known as the Alberti building and consists of 14 units. The upper floor units are about 1,100 square feet and the lower units are nearly 960 square feet.

“We have six of the units leased and six are sold,” Myers said.

Those having purchased building space or leased space include Blake Ford, Joe Pierce of Hickory Hardscapes, Les Cunningham of Campbell, Cunningham and Taylor, P.C., Mike Reynolds of Thoroughbred Financial in Knoxville, Tommy Thompson of Personal Dry Cleaners and Wendy Schopp and Barbara Salven of Edward Jones.

A new restaurant, called Seasons Café, is slated to be in that building as of May 2006.

Myers said he isn’t surprised at the growth of this property.

“To some degree, I knew the property would go this fast,” he said. “We knew there was a need when we developed this property.”

The cost for the average acre of land in Farragut is approximately $5,000, Myers said. For a small business owner seeking a startup location, the cost of the land, engineering surveys, building costs, permits and a host of other items can make it cost prohibitive to build.

“With our development, our clients get a high-class brick and steel building and a paved parking lot in a prime location,” Myers said. “For those that have chosen to buy, they get a business they can build equity in at the end of the term.”

The Bellini building, slated for construction in 2006, would have 18,000 square feet of space. Myers said of that 18,000 square feet, all but 4,000 square feet has been put under contract.

Myers said eventually the development would have 13 to 15 buildings. The Myers’ current building plan allows the company to build an average of two buildings per year.

The buildings, like Alberti and Bellini, are named for Renaissance masters.

“We see this project as a Renaissance, a rebirth for the west end of Farragut,” Myers said. “We wanted to set the standard for the west side of town and we’ve set one pretty high.”

For leasing or purchase information, call 865-675-3823.


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