Randy Boyd: No plans in place for Knox Rail Salvage purchase

Published: Sep. 6, 2016 at 4:46 PM EDT
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Randy Boyd, the owner of the Tennessee Smokies, bought the Knox Rail Salvage property at 400 East Jackson Avenue. Knox Rail Salvage sold four pieces of property that total nearly seven acres for $6 million.

According to a

from Knox Rail Salvage, the property was sold because of its premium price and there were other locations company leaders could buy at a discount.

The post went on to read, "Secondly, we are citizens as well and we want to support the downtown redevelopment process which enhances the quality of life and the value of investments for all Knoxvillians and our customers. We also appreciate the vision of generous investors like Randy Boyd and want to come alongside when it makes sense as they pursue their dreams as well."

This is not Knox Rail Salvage's primary location. This sale in no way impacts the location at 200 E. Magnolia Ave.

Knox Rail Salvage will continue to operate at its 200 East Magnolia Avenue store. Frazier said, "My business, Knox Rail Salvage, is strong and profitable thanks to the hard work of our staff and the many east Tennesseans that have supported our low cost, high value philosophy over the last 37 years. We are excited about the next 37 years and the opportunities that lie ahead for our business. We will continue to serve east Tennessee and Southeast Kentucky with low cost solutions to their home improvement needs."

Knox Rail Salvage, a business that sells building materials, is owned by Mike Frazier who said it took 18 months of negotiation to reach the deal. "Randy Boyd and I found a number that worked for the both of us. I, with a great deal of trepidation, finally agreed to sell the property at 400 E. Jackson avenue. I wish Randy the very best with the future development of this property and appreciate his sincere efforts to improve our city."

In an effort to keep moving costs low, Knox Rail Salvage planned to offer discounts on some home improvement products still stored at the 400 E. Jackson location.

Randy Boyd made the following statement about the purchase:

"Given my investments in and love for the Old City and for Knoxville, that's a parcel I have had my eyes on for some time.

It's also no secret that I've had conversations with officials in both Sevierville and Sevier County, as well as in Knoxville, about the different options the Smokies could explore down the road, because ultimately, it is the communities that build and support stadiums. But those conversations are in the earliest stages of looking for a long term “win-win” plan.

I have the highest regard for our many fans and community partners in Sevierville and Sevier County. The Smokies have enjoyed a great working relationship there for nearly 20 years and we will continue to invest in Smokies Stadium and look for ways to create the best possible experience for our fans in the years to come.

In the meantime, Knox Rail Salvage will continue to operate on the downtown Knoxville site through 2017, so there are definitely no plans in place or immediate news to announce about that site.

And eventually, whether the Knox Rail Salvage site becomes a new commercial or residential development, a public park for Old City residents and pet lovers, or a new sports complex, I hope it will be a terrific new addition to Knoxville and the Old City."