TVA: Strategic About Real Estate

Thursday, February 7, 2019 - by TVA Newsroom
Chickamauga Power Service Center
Chickamauga Power Service Center

TVA’s Strategic Real Estate Group exists to help the company right-size itself in terms of buildings and budgets. And 2018 was a very good year. Last year’s progress included auctions, property sales, relocations, consolidations, and building improvements across the Tennessee Valley. To date, the SREG Team has reduced over 1.4 million square feet. 

2018’s most visible actions included: 

Sale of 19 acres and two buildings at Singleton Marine in Louisville, Tn., for $960,000
Sale of 900 acres and 55 buildings on the Muscle Shoals Reservation for $5 million 
Sale of five acres and one building in Harriman, Tn., for $55,000
Sale of the former Knoxville Customer and Transmission Service Center in Knoxville for $570,000
Relocation of the Lenoir City Watershed Team to the Knoxville West Tower and eliminated a yearly lease payment
Removal of modular structures at Kingston Fossil Plant
Initiation of a Master Plan for Chickamauga Power Service Center
Completion of a Master Plan to consolidate all buildings in the Knoxville region into the Knoxville West Tower and Norris Engineering Labs
Relocation of the Customer Service Center in Memphis to the Peabody Place Office Tower
Implementation of enterprise governance, including standard processes and procedures for all real estate transactions
Establishment of business unit reduction targets in TVA’s 2019 business plan

“This has been a team effort across the board,” said Mike Dobrogosz, senior manager of Strategic Real Estate. “Over the last five years, the SREG team has worked closely with Enterprise Improvement, OGC, Financial Services and many TVA business units to find ways to right-size our real estate portfolio and lower cost to TVA.”  

As part of these efforts, the SREG Team has focused much of 2018 on consolidating the Knoxville region. “We have 55 buildings in the Knoxville region,” said Bill Threlkeld, Property Portfolio manager. “As with Chattanooga, our goal is to consolidate our Knoxville facilities into two central locations — one for corporate offices and one for field services, such as laboratories, warehousing and fleet materials. Ultimately, this will reduce cost by eliminating underutilized buildings and focus TVA’s future investments and maintenance on two, core locations.”  

In addition to the Knoxville consolidation efforts, the SREG Team is still working to obtain an occupant for the vacant East Tower and Summer Place Garage.

“I think we’re close to finalizing a deal for these properties,” said Mr. Dobrogosz. “I know the consolidation and improvement efforts at the KOC have caused some inconveniences to employees, but in the end, this effort will provide employees with more modern workspaces, lower TVA costs and provide economic development opportunities for downtown Knoxville.” 

Peabody Place Office Tower
Peabody Place Office Tower

Chattanooga's Taimen Transport Named 1 Of America's Fastest Growing Companies

Local Attorney Selected For “On The Rise – Top 40 Young Lawyers” In America List

Best Lawyers In America For 2020 Includes Environmental Attorney David Higney


In Inc.com's annual guide “The Most Successful Companies in America,” Chattanooga’s Taimen Transport, LLC has been listed as the 1,339th fastest-growing privately-held company in the United States. ... (click for more)

The Law Firm of Grant, Konvalinka & Harrison P.C. recognizes the selection of one of their directors, Brittany Thomas Faith, as a 2019 American Bar Association On the Rise – Top 40 Young ... (click for more)

Grant Konvalinka & Harrison, P.C., announces attorney David C. Higney is recognized and included in the 2020 Edition of The Best Lawyers in America for Environmental Law. Best Lawyers ... (click for more)


Business

Chattanooga's Taimen Transport Named 1 Of America's Fastest Growing Companies

In Inc.com's annual guide “The Most Successful Companies in America,” Chattanooga’s Taimen Transport, LLC has been listed as the 1,339th fastest-growing privately-held company in the United States. Founded in 2012, Taimen Transport, which focuses on full truckload transportation services, offering transportation technology for customers to monitor shipments, presently has 17 full-time ... (click for more)

Local Attorney Selected For “On The Rise – Top 40 Young Lawyers” In America List

The Law Firm of Grant, Konvalinka & Harrison P.C. recognizes the selection of one of their directors, Brittany Thomas Faith, as a 2019 American Bar Association On the Rise – Top 40 Young Lawyers in America. Ms. Faith’s selection is based on her "dedication and tireless advocacy to her clients as part of her immigration practice." The annual award “provides national recognition ... (click for more)

Breaking News

Motorcyclist, 55, Killed In Collision With SUV On Tuesday Morning On Lee Highway

A motorcyclist was killed in a collision with an SUV on Lee Highway on Tuesday morning. At approximately 9:01 a.m., Chattanooga Police were notified of a serious traffic crash involving a motorcycle and a vehicle at 7500 Lee Highway. The CPD Traffic / DUI Unit responded to the scene. A GMC Acadia, driven by Gary A. Moore, 68, was traveling south on Lee Highway and merged ... (click for more)

Construction Set To Start Next Spring On $25 Million Chattanooga Airport Parking Deck; Terminal To Expand; Enplanements Continue To Increase

Terry Hart, president of the Chattanooga Airport, said at the August board meeting that it has been a good summer for the airport with enplanements in June increasing 12½ percent above last year and seven percent in July. For the first seven months of the year, enplanements are up 12 ½ percent with an increase of 2,500 arrivals and departures year-to-date over 2018. However, a leveling ... (click for more)

Opinion

What Does The White Privilege Presentation Have To Do With Education?

On Aug. 2, Hamilton County Schools held a professional development presented by motivational speaker, Robert Jackson. The PD was for the teachers in the Opportunity Zone, which includes the 12 lowest-performing schools in Hamilton County where 90 percent of the students are black. During the 90-minute presentation, there was a 15-20-minute segment concerning “White Privilege”. ... (click for more)

Roy Exum: 'White Privilege' Is A Myth

Several weeks ago, I must admit I had never heard of Patrick Hampton, an African American who has just joined a promising conservative think talk not-for-profit group known as Hamilton Flourishing. Headed by longtime executive and dream-maker Doug Daugherty, the group is in the perfect position to make a lasting impact on our all-inclusive community. Patrick Hampton made a huge ... (click for more)