Putnam County Commissioners agreed to an option with a Nashville-based firm to purchase the 41.41 acres of the Putnam County Fairgrounds.
The purchase price: $12.42 million.
Commissioners voted 24-0 Monday night to move forward with Baker Storey McDonald of Nashville to recruit major retailers to the site off South Jefferson Avenue.
The firm has a total of four options between the start of the agreement and October of next year. The first two options would pay the county $5,000 with the third and fourth 120-day options worth $25,000.
The agreement includes a requirement of at least one retailer of at least 60,000 square feet.
Baker Storey McDonald Properties formed in 2002. The company has been involved in major developments across Tennessee, Alabama and Ohio. The group has been involved in three major developments across the mid state including Murfreesboro’s new Savannah Ridge shopping center, The Crossings at Dickson, and Nippers Corner in Nashville.
Company Attorney Tom Trent has worked with Putnam County and Cookeville on the Food CIty project, the Academy Sports Distribution Center and TTI Floor Care.
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