KNOXVILLE, Tenn. (WATE) — The University of Tennessee may be one step closer to having a new student recreation center after the University of Tennessee Foundation purchased a former Walmart near the university’s campus.
According to a special warranty deed, the $26 million sale was recorded on December 18. The property at 2501 University Commons Way in Knoxville was purchased by UTFI Real Estate LLC., according to the records.
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The building previously held a Walmart at the University Commons, however the store closed its doors in 2019. Since, the building has been vacant.
Earlier this year, 6 News reported on the possibility of a new student recreation center, as the UT Board of Trustees approved a plan to lease 120,000 square feet of the building.
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The idea that was discussed in July suggested that the University of Tennessee Foundation acquiring the building from its currents owner and then leasing it to the university for a period of 99 years…