The owners of Mid-South Wire bought the 190,000-square-foot former Ajax Turner Co. warehouse on Visco Drive for $3.7 million with plans to expand the steel wire manufacturer.
John T. Johnson Jr., CEO of Mid-South Wire, said the beverage distributor's former home, which sat vacant since the May 2010 flood, is ideal for the company's future expansion because it sits across the street from his company's headquarters at 1070 Visco Drive.
"We're just going to expand our current operations and add some product lines we think are opportunities for us," he said. "It made more sense to acquire this across the street to eliminate duplication of management, maintenance and transportation costs if we were to go somewhere else."
After the flood, Ajax Turner left the building at 1045 Visco Drive for new space in La Vergne. Along with the building, Mid-South Wire bought the 19 acres the building sits on as well.
With 175 employees, including with its truckload carrier M-S Logistics and at a Scott City, Mo. plant, Mid-South Wire makes steel wire for grocery carts, oven racks and other wire products.
Jack Turner and Jill Turner Crow are general partners in Turner properties, the seller. The Johnson and Rollins families bought the properties through Killer II LLC and Third Generation Visco LLC.