City-Owned Lot in Parramore to Become a Corporate Headquarters for BAGS
Here's what's going on at the corner of S. Division and W. South next to the Amway Center parking garage.
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.