Top Tourist Area in Tennessee Belle Island SOLD Tract 1 Pigeon Forge TENNESSEE Trolley Hub & City Parking 3,000 spaces LeConte Center SOLD Tract 2 Jake Thomas Blvd Extension AVAILABLE Tract 3 2.0 24.42 Acres NAI Knoxville is pleased to offer this opportunity to purchase the infill development site. Located in a highly desirable tourism market and part of the new dynamic Pigeon Forge City Events Center and the newly proposed Cal Ripken Experience submarket, this submarket is in need of a convention hotel and this is the site for it. This site consists of one tract, which can be purchased together or subdivided totaling approximately 24.42 acres. The site was originally master planned as a mixed use village center that would contain retail, entertainment, hospitality, timeshare and overnight rentals. The site is suitable for all of those uses and is now available to the stand alone hotel, restaurant, timeshare or retail developer that is interested in leveraging all this thriving tourism market has to offer with the public and private funds that are currently being invested in adjacent properties and related infrastructure. The site is adjacent to the new 232,599 square foot event center that is currently under construction and is scheduled for completion in 2013. Known as the LeConte Center, the complex will connect to a 3,000 car parking lot and trolley depot, as well as the mile long lighted and landscaped RiverWalk along the Little Pigeon River. In addition to the Events Center directly across the street, The Jake Thomas Boulevard extension is due to start expansion in early 2012. The road extension will connect Dollywood directly to the Pigeon Forge Parkway. This extension and the eventual connection of these two highly traveled tourism arterials will ensure that this is the most convenient and highly sought out undeveloped property in this market. Last but not least, the newly proposed Cal Ripken Experience is set to expand, on the adjacent site. Cal Ripken s preliminary plans show nine fields, on site, and project 70,000 player visits a year. Contact information Trey Miller, MRED 865 777 3044 direct tmiller@naiknoxville.com Brian Tapp, CCIM 865 777 3039 direct btapp@naiknoxville.com NAI Knoxville 10101 Sherrill Boulevard Knoxville, TN 37932 main 865 777 3049 fax www.naiknoxville.com
Top Tourist Area in Tennessee Pigeon Forge TENNESSEE Belle Island Trolley Hub & City Parking 3,000 spaces LeConte Center SOLD Tract 1 SOLD Tract 2 Jake Thomas Blvd Extension AVAILABLE Tract 3 2.0 24.42 Acres Pricing Guide Offering Zoning 2 Site Area Price/Acre Price 1 Tract 1 C-4 14.75 200,000 SOLD Tract 2 C-4 98.40 200,000 SOLD Tract 3 C-2 24.42 600,000 $14,652,000 1 Pricing reflect bulk sale on tract basis. There is a 2 acre minimum outlot. Please call for pricing of outlots or subdivision. 2 Zoning: C-2 Tourist Commercial Contact information Trey Miller, MRED 865 777 3044 direct tmiller@naiknoxville.com Brian Tapp, CCIM 865 777 3039 direct btapp@naiknoxville.com NAI Knoxville 10101 Sherrill Boulevard Knoxville, TN 37932 main 865 777 3049 fax www.naiknoxville.com
Sample Site Plan 24 Acre Site Teaster Lane
PRESS RELEASE SOLD 114 Acres of RiverWalk Park Only 1 Tract Left 2.0-24.42 Acres Available 114 Acres Commercial Land Sold to Barker Industries Teaster Lane Corridor Continues to Drive Tourism Development in Sevier County Pigeon Forge, Tennessee April 2, 2012 Contact: NAI Knoxville Brian Tapp, CCIM (865) 777-3039 btapp@naiknoxville.com NAI Knoxville Trey Miller, MRED (865) 777-3044 tmiller@naiknoxville.com Riverwalk Park, LLC Alan Wilson (407) 691-5602 alan.wilson@ahg-group.com Project: Pigeon Falls Land Sold to Barker Industries, Inc. Type of project: Sale of Limited Liability Company Description: Limited Liability Company that owns 113.65 acres of commercial land Amount of sale: Not disclosed Buyer: Barker Industries, Inc. Seller: Riverwalk Park, LLC Listing Broker: NAI Knoxville Selling Broker: None Press Release Pigeon Forge, TN, April 2, 2012 Barker Industries, Inc. of Pikeville, KY purchased Pigeon Falls, LLC, which owns 113.65 acres of land on Teaster Lane in Pigeon Forge, TN, for restaurant, retail and attractions. The majority of the project would be anchored by the Cal Ripken Experience which hosts youth baseball tournaments and camps. NAI Knoxville is the exclusive representative of Riverwalk Park, LLC, which owns an additional 24 acres located at the corner of Jake Thomas Road and Teaster Lane. The site is across the street from Barker Industries and is adjacent to a new 232,599 square foot event center to be completed by the City of Pigeon Forge in 2013. The events facility includes 112,000 square foot exhibit hall and supporting amenities. Known as the LeConte Center, the complex will connect to a 3,000 car parking lot and trolley depot, as well as the mile long Riverwalk along the Little Pigeon River. NAI Knoxville also represented Regions Bank in the sale of the retail portion of Belle Island Village in 2011.
TDZ: $103.8 Million of Public Investment in RiverWalk Park RiverWalk Park is the direct beneficiary of $106.5 Million of the City of Pigeon Forge s Public Investment Pigeon Forge Events Center 232,599 sq. ft. $54,000,000 Property for Public Parking 35 Acres $17,500,000 Surface Parking 3,000 spaces $3,300,000 Central Trolley Station 3,000 sq. ft. $1,000,000 Jake Thomas Rd Connector 2 miles $28,000,000 Total: $103,800,000 RiverWalk Park: 114 Acres Sold Paving the Way Cap Ripken Experience SUBJECT
Sales Tax Increment Financing APPROVED in support of RiverWalk Park The Mountain Press May 13, 2006 The State Building Commission approved Pigeon Forge s blueprint for a $182 million building program on Thursday. By Joel Davis The Building Commission approved the city s request to fund the construction of a civic events center, new parking facilities, road improvements and a needed wastewater plan expansion through the Convention Center and Tourism Development Financing Act of 1988. We re very pleased, City Manager Earlene Teaster said. There has been a lot of hard work going into it for about three years now. We had a lot of good staff people and consultants working on it. The board is very pleased. Hopefully, there is going to be an opportunity to take Pigeon Forge a little further into the tourism world and create more jobs and boost the economy. Tourism Development Zone A year after the City of Pigeon Forge City Manager Earlene Teaster s first public endorsement of the Pigeon Falls Village project, on May 11,2006, the City of Pigeon Forge won final approval for its Tourism Development Zone (or TDZ ) from the State of Tennessee. The TDZ authorization enables the use of a powerful sales tax increment bonding mechanism to provide funds for an Events Center and related improvements, such as roads and parking. Of the total $180 million bonding program, $106.5 million is being invested in improvements that directly benefit the RiverWalk Park Development. Central to the TDZ bonding enabling legislation is the development of a 232,599 sq. ft. Events Center, which by binding agreement, will be located on a 9.86 acre tract of land in the heart of RiverWalk Park.
Pigeon Forge is the Heart of The Gateway 79,000 Residents, 15 Million Visitors Sevier County, Tennessee, with a population of a mere 79,000 people, enjoys 11 million overnight guests and 4+ million Day-trippers a year, who spend about 3 days in the market, and generated gross sales tax receipts of $70 million in 2009. Since the Park s dedication in 1940, The Gateway has grown and evolved from inside the Park, out to Interstate 40, spanning 25 miles, from Gatlinburg, to Pigeon Forge, to Sevierville. Pigeon Forge, the second to develop, has been the most economically successful due to its proximity to the Park and mountain context, yet with more land than the Park constrained Gatlinburg. Pigeon Forge has enjoyed decades of stable and committed leadership, who has proactively managed tourism, investing five times as much in marketing as the other two towns. Top Ten Markets of Origin 1 Atlanta, GA 2 Greeneville, SC 3 Nashville, TN 4 Tri-Cities, TN 5 Knoxville, TN 6 Chattanooga, TN 7 Lexington, KY 8 Cincinnati, OH This historic and accelerating growth is made secure by the Federally protected beauty of 3 million acres of forests, which at once attract tourists to The Gateway, 9 10 Charlotte, NC Louisville, KY while inherently repelling potential competitive development in other regions surrounding the Park and Federal Forests. This result serves well both the Park and The Gateway.
The Gateway is Played Year Round Pigeon Forge is an All Year Destination! Mean monthly sales are going up, while the Standard Deviation is going down. That is, the market is growing, and seasonality is declining. Month Tax Collected at 1% Gross Business January $317,975 $31,543,676 February $375,210 $37,114,450 March $594,355 $59,286,806 April $632,203 $63,116,325 May $663,391 $66,828,389 June $968,399 $96,998,245 July $1,157,928 $114,915,173 August $852,493 $85,114,582 September $668,384 $69,056,114 October $789,012 $79,189,444 November $695,173 $68,343,998 December $645,864 $64,563,731 Total $8,360,387 $836,467,928 Mktg & Promotion The Great Smoky Mountains Gateway Public Sector spends a combined annual budget of $13.6 million in Marketing and Promotion. Pigeon Forge the dominant economic force in the region and the home to RiverWalk Park funds nearly three quarters of this figure.
One Hundred Million Americans All In a Day s Drive Of Pigeon Forge, Tennessee The Great Smoky Mountains National Park is located within a day s drive of one third of the American population. Source: Gatlinburg Department of Tourism City mi City mi City mi City mi Asheville, NC 78 Cleveland, OH 543 Little Rock, AK 557 Raleigh, NC 321 Atlanta, GA 186 Columbia, SC 223 Louisville, KY 227 Richmond, VA 424 Baltimore, MD 512 Columbus, OH 298 Macon, GA 265 Roanoke, VA 253 Birmingham, AL 276 Dayton, OH 337 Memphis, TN 423 Savannah, GA 377 Charleston, SC 331 Detroit, MI 559 Mobile, AL 530 Spartanburg, SC 136 Charleston, WV 301 Fort Wayne, IN 451 Montgomery, AL 349 St. Louis, MO 513 Charlotte, NC 225 Harrisburg, PA 528 Nashville, TN 208 St. Peters., FL 660 Chattanooga, TN 133 Indianapolis, IN 395 New Orleans, LA 634 Tri-Cities, TN 100 Chicago, IL 574 Jacksonville, FL 507 Philadelphia, PA 609 Washington DC 474 Cincinnati, OH 282 Lexington, KY 208 Pittsburg, PA 475 Winston-Salem, NC 218 Sevier County and Tennessee Tourism Sevier County Ranks 3rd in Tennessee Tourism Spending Sevier County Hosts Tennessee s Top 4 Events Sevier County Is Home to 3 of Tennessee s Top 4 Attractions 1. Davidson (Nashville): 3.2 billion 2. Shelby (Memphis): 2.45 billion 3. Sevier: 1.2 billion 4. Knox (neighboring county/knoxville): 0.6 billion 1. Smoky Mountains Winterfest: 6,000,000 2. Smoky Mountain Harvest Festival: 6,000,000 3. Dollywood Smoky Mountain Christmas: 2,200,000 4. Springfest: 1,000,000 1. Dollywood (Pigeon Forge): 2,400,000 2. Ripley s Aquarium (Gatlinburg): 1,600,000 3. Ober Gatlinburg (Gatlinburg): 865,623