Foundation Building Materials

Doherty Houston Industrial Group is pleased to exclusively offer for sale this Foundation Building Materials located on Rutledge Pike in Knoxville, Tennessee. This is a 23,478-square-foot facility sitting on 7.29 acres. The facility was a built in 1981 and had significant renovations and additions done to the property in 2022. Renovations include a complete office reconfiguration and remodel of the front building, a brand-new 14,000-square-foot board barn, a concrete pad site located next to the board barn, significant site work for proper drainage throughout the yard, and a detention area. Due to various changes in elevations throughout the region, it is difficult to find properties with flat yards in Knoxville like the subject property.

Foundation Building Materials has occupied this property since June 2022. There are over six years remaining on a Triple Net (NNN) lease with three, five-year options to renew. The lease enjoys two-percent annual increases beginning year six of the during the current term and in the renewal options. Landlord is responsible for roof and structure and HVAC replacement only. Tenant is responsible for all other repairs and maintenance.

The Knoxville metro area is centered in the eastern portion of Tennessee and is the state’s third largest market, after Nashville and Memphis. Economic drivers include trade, transportation, utilities and financial activities. Technology and research activities are growing in the metro, with multiple National Science Foundation-funded centers associated with the University of Tennessee. Oak Ridge National Laboratory, located in the metro, is the US Department of Energy’s largest multi-disciplinary laboratory and employs over 5,800 scientists, engineers, technicians and support staff.

Foundation Building Materials (FBR®) is a leading construction materials distributor focused on exceeding the expectations of the commercial construction and residential trades. With over 270 locations across the United States and Canada, FBM has significant geographic reach into most major building materials markets. FBM specializes in the local supply of building materials such as drywall, steel studs, lath, plaster, stucco, acoustical ceilings, insulation, fiberglass reinforced panels (FRP), and exterior insulation finish systems (EIFS). Additionally, FBM offers a wide variety of commercial-grade construction tools, drywall hand tools, fasteners, and construction supplies for residential and commercial projects.