Company Buys City-Owned Property in Parramore for Corporate Headquarters

SSHP LLC is buying 53,611 square feet of City-owned property in Parramore at the southwest intersection of S. Division Avenue and W. South Street. The company, publicly known as Bags, intends to construct a corporate office building on the property.

The City issued Notice of Proposed Disposition and Invitation for Proposals December 6, 2017. The estimated market value of the City-owned property by an independent real estate appraiser is $1,341,500.

The purchase price for the is $1,340,000 or $25 per square foot; based upon the final surveyed square footage excepting out the S. Division Avenue future right-of-way for expansion on the east.

The building will have 80 employees. Bags began as a valet service downtown and now handles hospitality service at every US airport and airports around the world.