By JOHN THOMPSON
jthompson@TheCitizenNews.com

The Coweta County Commission enthusiastically announced Tuesday that a new tenant has purchased a tract in the Creekside Industrial Park.

Rufus H. Smith Jr. and Company of Knoxville is purchasing 21.237 acres in the park for $1.06 million. The company is a commercial real estate development company and is also the parent company of some other large companies.

It plans to use eight of the acres for a distribution facility, but has not determined the use of the remaining 13 acres.

“The sale of this property shows the excellent potential of the Coweta County industrial market,” said industrial parks manager Buddy Harrison.

The Coweta County government took the bold step late last year when it decided to purchase the remaining land at Shenandoah Industrial Park and Creekside Industrial Park.

The county sold bonds to finance its $13.5 million purchase of the remaining 900 acres in the Shenandoah Industrial park.

An additional $1 million in bonds is being used for the continuation of Sanders Road and Amlajack Boulevard, and the remaining half interest in the Bill Hart property, land next to the industrial park needed to help improve it. The county earlier purchased a 50 percent interest in the land.

The park was built in the 1970s and has served as the major industrial park for the county for the last 20 years.

The announcement of the land purchase means the debt on the bonds is covered for another two years, said Coweta County Development Authority Chairman Mike Barber.

All the commissioners said they are hoping this is the first of many announcements of purchases in the park.

“We don't plan to rest on our laurels,” Barber said.