John Deere wouldn't disclose the price but area brokers familiar with the Loudon submarket tell GlobeSt.com on condition of anonymity the estimated price is $3.4 million or about $11 per sf.
Astec will locate trench- and drill-making operations for two of its 16 subsidiary companies there. They are Case Construction Equipment and Trencor, Inc. The site will also become Trencor's headquarters.
The sale is expected to close in October, according to a printed statement from Astec. Case will be operating in the new space by year end; Trencor by first quarter 2003.
J. Don Brock, Astec's chairman and chief executive officer, says in a statement that employment at the facility will begin at 175 and grow to more than 250.
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