Here's how much Knoxville's sprawling Discovery campus sold for and what's next
The former Discovery campus in west Knoxville officially has a new owner.
Apex Bank bought the 33-acre property for $35 million cash from Scripps Networks, LLC, in a deal that closed March 31, according to Knox County Register of Deeds Nick McBride.
The $1.2 billion community bank announced in late February it was under contract to purchase the campus.
Apex president and CEO Matt Daniels previously told Knox News employees will begin to move from their current corporate office on Montbrook Lane on April 1. It should take about 45 days to move everyone to the new office.
Why did Apex Bank purchase the Discovery campus?
It all came down to the size and amenities of the campus.
Wanting to encourage people to come to the office rather than work remotely, Daniels told Knox News the amenities of the building would make it easier and more enjoyable for employees to come to work.
It includes a child care area, fitness center, wellness center and restaurant. He called the purchase, "an investment in our people. Not really an investment in real estate."
While the campus provides 340,000 square feet of office space, Daniels said Apex will not be occupying all that space, as Apex will rent space to other tenants.
"We're looking at where we're at today and where we plan to be 10 years from now. Our hopes and our plan for this building is we can be there for an extended period of time," Daniels told Knox News. "I don't want to put a ceiling our potential, but it's big enough to hold us for quite a while."
Silas Sloan is the growth and development reporter. Email silas.sloan@knoxnews.com. Twitter @silasloan. Instagram @knox.growth.
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This article originally appeared on Knoxville News Sentinel: Knoxville Discovery campus sale price in deal with Apex Bank
