Sale Pending on Transpark Speculative Building

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A company was trying to buy a new spec building at the Kentucky Transpark when attorneys noticed a roadblock.
During the title search, attorneys found some clouds in the Bowling Green Economic Development Authority's title that had been eliminated, but not signed off on.
Today, the Warren County Fiscal Court stepped in to ensure the sale goes through.

"What we had to do was call a special meeting so I could get authority from the Fiscal Court to sign the necessary documents to remove the cloud of title from this property so it may be transferred to someone who can make a large investment in our community and provide jobs," said Warren County Judge Executive Mike Buchanon.

The court voted unanimously to approve the order allowing County Judge Executive Buchanon to sign off on the title.

"It's important that we make sure this type of investment isn't hindered by little technicalities, and that's all we're doing today," said Buchanon.

The name of the company is not being released pending the sale, but it's not the first to invest in the transpark.

"This is the third spec building we've actually constructed and we hope to sell it within the next weeks or so," said Bowling Green Area Chamber of Commerce President Ron Bunch.

Cannon Automotive Solutions and Shiloh Industries purchased the first two spec buildings... and created nearly 200 jobs combined.
The Chamber of Commerce says both were closed in record time, something they hope will continue with the third building.
With the quick success of the first three, they already have their sights set on the next building.

"In our business of economic development, it's typical that seven or eight out of ten clients are looking for an existing building, so we'll begin planning for the next spec building as soon as we close on the sale of this one," said Bunch.

Buchanon says today's special meeting of the court should expedite that process, and says they hope to have the sale on the more than 100,000 square-foot facility closed by next week.

We'll keep you updated as details on the new business become available.

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