JTEKT Automotive Tennessee-Vonore, LLC, has purchased the Colbalt Yachts building for $7.25 million. The purchases includes 72 acres JTEKT had leased from Cobalt. Cobalt decided to close the plant in 2007.

According to a news release, more than 465,000 square feet of local manufacturing or warehousing space has been purchased, leased or built in the county in 2012. The release said that in late 2012, TRDA began to see increased interest in area industrial sites and feels the trend will continue in the new year.

JTEKT has been located in Tellico West since 1988, said Craig Woodford, president of JTEKT Vonore. The company had leased the Cobalt building about three years ago.

See full story in the Sunday, Jan. 20, edition of The Advocate & Democrat.