Grassy Creek Development Breaks Ground

The 30 acre commercial development known as Grassy Creek broke ground Tuesday at the corner of Schaad Rd and Oak Ridge Highway In Knoxville. Developers and several Knox County officials were in attendance to celebrate the groundbreaking.

The $45 million dollar commercial big box development will be anchored by a 50,000-plus-s.f. Food City supermarket, expected to open next spring. The remainder of the development will feature a restaurant, storage facility, and a dozen other retail and commercial sites.

Steve Maddox, president of Maddox Companies, along side investor Joe Hollingsworth, praised Knox County Mayor Glenn Jacobs and the County Commission for supporting the project with a $2.5 million, Tax Increment Financing (TIF) package. Maddox said , “The development would not have happened without the TIF.”

Also in attendance was president and CEO of Food City, Steven Smith. “We’re excited to have the opportunity to construct a new state-of-the-art Food City on Schaad Road to serve our loyal customers,” said Smith. “They can expect to find the same smiling faces, top quality products and low prices they have come to expect from Food City, along with some great new services and conveniences.”

“Our customers are certainly going to enjoy the expanded variety/selection and exciting new conveniences and services,” said district manager, Barry Brogan.

Mayor Jacobs said the development will meet the demands of a fast-growing section of Knox County. “This area needs more retail and more restaurants.”

Maddox Completes Disposition of 53,456 SF Community Center in Seminole, Fla

(Seminole, Fla) – Maddox Companies has completed the $12.55 million dollar sale of Twin Oaks Shopping Center, a 53,456 square-foot community shopping center in Seminole, Fla anchored by Crunch Fitness. The property sits at the corner of Park Boulevard (US-19A) and Seminole Boulevard (FL-694) in the heart of Pinellas County. 

Maddox Companies completed a full redevelopment of the property between 2016-2018. A junior box fitness club, freestanding restaurant and two strip centers were gutted and reconstructed to suit the needs of new tenants including Crunch Fitness. The freestanding restaurant is uniquely constructed over a pond with water feature. The entire property received new decorative facades, with stacked stone accents, new landscaping parking lots, and refurbishment of existing oversize pylon signs.

The shopping center is fully leased to a health and wellness focused tenant mix including Crunch Fitness, Davita Dialysis, Optimart, Carepoint Pharmacy and First American Title Company. The site is located at the intersection of the primary east-west and north-south thoroughfares in western Pinellas County, convenient to the extremely dense and stable local population, and also tourist traffic and high-income residents of nearby beaches including Indian Rocks Beach, Madeira Beach and Treasure Island.

Brandon Clark and Steve Maddox handled marketing of the fully leased asset. Twin Oaks Plaza Land Trust is an affiliate of Maddox Companies, a leading provider of commercial real estate development, brokerage, leasing, management and construction services.