OTR Wheel Engineering, working with Rome-based buyer Blake Family Properties, is associated with the purchase of an 18-acre industrial campus with nearly 300,000 square feet under roof in Gainesville for $9 million. The campus is at 1215 Palmour Drive adjacent to Lee Gilmer Memorial Airport in an industrial hot bed for the Northeast Georgia community.
The commercial real estate site LoopNet said the listed price had been $11.54 million and had been on the market since October. The initial buildings on the site were started in 1986.
Steve Graves of Hardy Realty in Rome handled the sale and it is believed to be one of the largest such industrial transactions coordinated by a Rome Realtor and agency.
Some of the amenities about the site, per the listing:
“Freeway access, tons of power 27,000 amps (9 – 3,000 amp services). Buss ducts and $2 million of wiring. Heavy industrial. Half of building available within 90 days. Approximately 18,000 square feet of office, fully remodeled. New roof.” (Some of the existing businesses will remain there).
OTR Wheel Engineering already is in Gainesville. The company already has an office at 1242 West Ridge Road; OTR has been in Hall County since 2003 and currently has 28 employees there, according to the Greater Hall Chamber of Commerce. (With thanks to Jeff Gill of The Times in Gainesville).
Tim Evans, the chamber’s vice president of economic development, says the building just sold was at first home to Teledyne and was a hub for circuitry and other components. Next was Hayes Wheel and, after that, a few years vacant. The Louver Shop arrived and today fills nearly half the building, Evans says.
About OTR (from the company website):
OTR Wheel Engineering was founded in 1987 by Fred Taylor as a small wheel shop in Rome, Ga. There he began to manufacture and distribute wheels and wheel components to customers in the Southeast. Mr. Taylor found that customers wanted a “service and product integrator.” After landing it’s first major customer in Chambersburg, Penn., in 1995, OTR began soliciting major “original equipment manufacturers” with the concept of providing the procurement of their tires and wheels, assembling, and delivering to them “Just-In-Time (JIT)” to reduce their material carrying costs. As the company grew it required significant resources.
With this philosophy of providing tires and wheels, assembling, and delivering them “Just-In-Time ” OTR went on a major expansion by opening up seven mounting facilities over the next eight years and two new wheel facilities. OTR Wheel Engineering, Inc. continues today with this operating philosophy. OTR Wheel Engineering, Inc. continues to work with their customer base to innovate new product enhancements, provide cost reduction programs, and finding ways for innovation within the customer’s industry. OTR Wheel Engineering, Inc. is expanding to become fully integrated world-wide. Wheel manufacturing facilities are located in different countries along with mounting and integration facilities.