Cadiz City Council offers to sell Superior Walls building to Transcraft
by Franklin Clark, Reporter -- fclark@cadizrecord.com
May 23, 2012 | 5 5 recommendations | email to a friend | print
In a 5 – 0 decision, the Cadiz City Council voted in a special-called meeting Thursday evening to sell or lease the old Superior Walls building on 44 Industrial Drive to Transcraft.

Transcraft will have 30 days to accept or reject the City’s offer, and a press time, they had not yet made a decision. They would either buy the property for $600,000 or would lease it from the City for five years for $2.75 per square foot.

“When we agreed to purchase this property to be used as a maintenance garage, it was stated by Mayor (Lyn) Bailey, that we would not hesitate to offer the building for a deserving industrial prospect,” said Council member Manuel Brown, who is also on the City’s Finance Committee.

Located in Industrial Park No. 2, the 62,000-square-foot Superior Walls building is on 12 acres, according to the Cadiz/Trigg County Economic Development Commission’s web site at triggindustry.com. With the lease agreement, it would come to $170,500 a year, or more than $850,000 over a five-year term.

Valued at $700,000, Jimmy Carr owned the building before selling it to the city earlier this year at a price of $550,000.

For the rest of this story, see this week's issue of The Cadiz Record or subscribe to our e-Edition by calling 270-522-6605.
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