Drake Enterprises has closed on the purchase of Caterpillar's former Precision Seals plant, located at 517 Industrial Park Road in Franklin. Industrial realtor Newmark Grubb Knight Frank (NGKF) placed the 101,810-square-foot, general-purpose industrial building and 20-acre lot on the market in March, intending to sell the property within 12-24 months.
"This space presents an excellent opportunity for growth," said Phil Drake, chairman and CEO of Drake Enterprises. "One of the reasons we chose this building was the availability of fiber Internet in the Industrial Park. As we expand operations, high-speed broadband is a necessity."
Drake's current plan is to house data storage and servers in the on-site tornado shelter. "The reinforced shelter has its own generator, so it's an ideal location," Phil explained. "We will also relocate the maintenance staff and Providence Builders to the new building: the 20-foot ceilings and 50-foot production bays are convenient for storing maintenance machinery and construction materials."
Macon County Economic Development Commission Director Tommy Jenkins commented, "As the largest private employer in Macon County, Drake Enterprises is a perfect fit for the Macon County Industrial Park. We salute Drake for their substantial contributions to our local economy and look forward to an exciting and successful future with this latest acquisition."
About Drake Enterprises
Drake Enterprises of Franklin, NC employs over 800 people and operates eighteen diverse businesses, which include Drake Software, the fourth largest professional tax preparation software company nationally; Macon Printing; Dnet Internet Services; and one-half ownership of Balsam West Fiber Network, which has a 256-mile underground fiber ring in Western North Carolina. Guided by Biblical principles, this rapidly growing company continues to expand through acquisitions and new business ventures.