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Henry County boards approve sale of Patriot Centre II property to Franklin Real Estate Company
Summary
The Henry County Board of Supervisors and the Industrial Development Authority unanimously approved the sale of the Patriot Centre II (Bryant) property to Franklin Real Estate Company, the real-estate arm of Appalachian Power Company, following a closed-session review under Virginia FOIA rules.
The Henry County Board of Supervisors and the Industrial Development Authority of Henry County voted unanimously on May 21 to approve the sale of the Patriot Centre II (Bryant) property to Franklin Real Estate Company. The IDA authorized its chair to execute all documents related to the transaction, and the Board of Supervisors indicated its support in a separate unanimous motion.
Dale Wagoner, Henry County Administrator, told the joint meeting that the IDA entered a Purchase Option Agreement in April 2025 with a company publicly referred to as "Project Pathfinder." Wagoner said the option, initially six months with an exercised six-month extension, allowed the company to perform environmental and feasibility studies before deciding to buy. "Franklin Real Estate Company is the real estate arm of Appalachian Power Company," Wagoner said, and Wagoner reported the company is now ready to exercise its option to purchase.
The IDA approved the sale on a motion by Barry Helmstutler, seconded by Rodney Thacker; the IDA vote was recorded as unanimous. The Board of Supervisors registered its support on a motion by Travis Pruitt, seconded by Garrett Dillard, also unanimous. The IDA authorized its chairperson to execute all documents related to the sale.
The joint meeting convened a closed session at 12:30 p.m. under the Virginia Freedom of Information Act provisions for discussion of the disposal of real estate and for as-yet-unannounced industries (Va. Code §2.2-3711(A)(3) and (A)(5)). The bodies returned to open session at 1:00 p.m.; JR Powell read the certification of the closed meeting and roll-call votes were taken affirming the required certifications.
No purchase price, closing timeline or conditions were stated in the minutes. Meeting minutes list the IDA members present (Len Dillon, Marshall Stowe, Barry Helmstutler, Steve Isley, Barry Nelson and Rodney Thacker; Barry Jarrett absent) and the Board of Supervisors members present (Jim Adams, Travis Pruitt, Debra Buchanan, Garrett Dillard, Chris Lawless; Pam Cobler participated remotely). The meeting adjourned at 1:05 p.m.
The sale transfers authority to the IDA and the county for execution of paperwork; the minutes do not specify a closing date nor whether local approvals beyond the IDA and Board will be required.
