The SODA Blog

The official blog of the Sportsplex Operators & Developers Association

Regional Sports Plex put on market for $5.3 million !

Lights#1   Mr. Tim Stonecipher and nine investors broke ground in June 2007 on a vacant west McCracken County lot, a “bean field” on Highway 60 that became the Paducah Regional Sports Plex.

   “None of us did this to get a (major) return on our investment,” said Stonecipher, who originally conceived of the project and retains an ownership stake. “We did it for other reasons.

   “We wanted to be God-centered, number one. We wanted to increase the economic impact of the area, and of course, the overall wellness of the community.”

    Nearly a decade later, the ownership group is ready to sell. The multi-use, climate-controlled indoor sports facility, which encompasses roughly 80,000 square feet and sits on 39 acres, went on the market 10 days ago. The asking price is $5.3 million.

The sports plex draws 150,000 visitors annually for basketball, volleyball, soccer, softball and other activities. Over the years it has hosted everything from dog agility competitions to mixed martial arts to roller derby.

Indoor_Sports

Stonecipher outlined ownership’s decision.

“We all committed to five years, and we’ve been in this now for a decade,” he said. “We are ready to pass the baton. We feel like somebody will have new, fresh ideas and can take it to the next level and further the goals we had.

“We don’t want this to be misunderstood. We’re not closing any part of the facility, and this isn’t a matter of, ‘Oh, no. The plex is financially caving.’ It really is that we’ve put in 10 years, a lot more time than we thought, and we’re ready to hand it off. We know there are people out there with great, fresh ideas for the property.”

Sirk & Company Real Estate in Paducah is listing the property.

Ben Sirk described the sports plex as one of the area’s most “unique” properties, one benefitted by proximity to Kentucky Oaks Mall, Interstate 24, Barkley Regional Airport and McCracken County High School. It’s also in a growing part of the county.

“Over the last 10 years especially, every user and tenant that wants to locate a business in Paducah, primarily retail, wants to be on Highway 60 and they want to be as close to the mall as they can be,” Sirk said.

“It’s a little bit down the road from where the majority of developments are now, but again, this is a destination-type property.  It draws its own crowd.”

Stonecipher said roughly half the people who visit the indoor facility each year come from outside of Paducah and McCracken County. He estimates the sports plex has a $9 million annual impact on the local economy.

“There’s just not another place like ours until you get to Nashville,” he said.

Sirk said it’s early in the sale process, and interest in the sports plex hasn’t gone beyond initial inquiries. He said there’s no telling when a sale might be completed.

“Marketing a property like this really is a completely different animal from marketing just a residential house or lot,” he said. “Finding a user or buyer can be difficult, especially in western Kentucky. We’re marketing this thing worldwide.

“The main focus is to just get this in front of as many eyeballs as possible because it only takes one buyer. The name of the game is maximum exposure.”

There are 12 options for potential buyers or leasers, Sirk said. Packages are available for seven commercial lots fronting Highway 60, leasing 12,688 square feet within the sports plex, or buying the property outright, he said.

McCracken County Commissioner Bill Bartleman said the sports plex has been an attraction for out-of-towners and an amenity for local residents.

“It’s an important piece of real estate, and they have an important product there,” he said. “It brings people into the community.

“I think the county would like to see that continue to be operated in the way it is now and probably expanded. I think it maybe has never reached its potential of what it could do for the community. If the right developer comes in with some innovation it could be an even bigger attraction.”

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

It’s Never To Late To Save Your Program Money !
Check Out Our Insurance Program Today !

SODA_AD_17
www.sadlersports.com/soda

. . . . . . . . . . . . . . . . . . . . . . . .

SODA Logo “Proudly Serving The USA/Canada Since 1981”

www.sportsplexoperators.com

. . . . . . . . . . . . . . . . . . . . . . . .

PlanFinalGuideAd

“Proudly Serving The USA/Canada Since 1981”

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Your email address will not be published. Required fields are marked *

*