Alpharetta, GA, January 12, 2008 --(PR.com
)-- SeedAmerica CEO Joseph Johnson today announced that it has closed its acquisition of a property in Greeneville, TN. With this acquisition, SeedAmerica will actively seek entrepreneurs to lease the space, in a community revitalization effort.
"We are excited to have closed the acquisition and to begin collaborating with community officials in order to determine the best new business opportunities for Greeneville," said Johnson.
The 95,767 square foot manufacturing building built in 1961, is located at 515 Bohannon Ave. in Greeneville. The building was formerly owned by Kaydon Custom Filtration Corporation, the world's largest manufacturer of thin-section bearings and filtration equipment. In 2006, Kaydon transferred another property to SeedAmerica, located in Muskegon, MI, utilizing the 561 Exchange.
"The community will remain the most important part of SeedAmerica’s efforts in this process. We will continue to gather and listen to its feedback and are looking forward to the many opportunities that lie ahead,” said Chris Zimmerman, President of Asset Management for SeedAmerica.
ConAgra Foods, FMC Technologies, Essex Electric, the Pritzker family (owner of the Hyatt Hotels) AAF McQuay, GEM, Murray Corporation, Seneca Foods and Quebecor World Printing are just some of the companies who have completed property transfers using the 561 Exchange through SeedAmerica.
SeedAmerica is a national real estate endowment fund, focused on acquiring and managing commercial real estate assets. SeedAmerica is a nonprofit, 501(c)3, organization with millions of square feet of commercial real estate space that has helped revitalize communities, and assist entrepreneurs to move into affordable real estate. For more information on SeedAmerica, visit their website at www.seedamerica.com.