Old TRA/PSC/PUC building to be sold at auction by state

More than two acres of state-owned property in downtown Nashville, formerly used by the Tennessee Regulatory Authority (previously known as the Public Service Commission and soon to be known again by its ancient label of Public Utilities Commission), is being sold at auction on June 21, reports The Tennessean.

Chattanooga-based Compass Auctions & Real Estate LLC will oversee the auction… (of) two tracts on the north side of James Robertson Parkway and Gay Street … (including) a 45,294 square foot office building on the roughly 1.18 acres at 460 James Robertson Parkway (that) once housed the Tennessee Regulatory Authority (and)… the 0.87-acre parking lot site (nearby) will be offered in two separate, but adjoining, parcels and as a whole.

David Roberson, a spokesman for the state’s Department of General Services, said state law allows sale of properties by auction. “Because this is a high-profile property, we decided an auction would produce the highest and best price for Tennessee taxpayers,” he added.

Justin Ochs, vice president of national development for auction and real estate company Compass, said the property located near the NewsChannel 5 Network headquarters is already drawing interest from across the country.

“Downtown Nashville has become a place where families want to live and businesses want to operate,” he said.

Note: The TRA, once a major player on the Tennessee political scene under the name Public Service Commission, has become somewhat incidental in the overall lay of the state governmental landscape in the last couple of decades and is deemed no longer worthy of having a headquarters building (probably appropriately). The agency’s name is also being changed again in its days of dwindling significance to its original name — or, well, pretty close to it. See previous post HERE.

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Former Knoxville News Sentinel capitol bureau chief Tom Humphrey writes about Tennessee politics, government, and legislative news.
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