In a move to restructure its real estate holdings, Goodyear Tire & Rubber Co. plans to sell up to 500 acres of unused property near its Danville manufacturing facility, including the company-owned golf course, while maintaining operations at the plant.
Rumors circulating online Monday indicated that Caesar’s Entertainment had already purchased the property. Those rumors were quickly shut down, being called “Untrue” by Noel Stevenson, a spokesperson for Caesars Virginia.
Stevenson did not respond to additional questions about whether Caesars has any interest in the property.
Caesars Entertainment does not directly own any golf courses; however, VICI Properties their real estate investment trust, owns four championship courses managed by The Cabot Collection. The Courses Include: Cascata and Rio Secco in Las Vegas, Chariot Run in Laconia, Indiana, and Grand Bear in Saucier, Mississippi.
The Goodyear Golf Club was established in 1980 in the foothills of the picturesque Blue Ridge Mountains and features a par-71, 18-hole course. The front 9 was designed by Gene Hamm, and the back 9 was established in-house and opened in 1994.
It should be noted that even though the golf course property is owned by Goodyear, the operation of the course is financially independent and self-sustaining, according to an unnamed employee in an interview with triadgolf.com.
It is unclear how a potential acquisition of the property will affect the course.
Kylie Ulanski, Senior Director, Global Manufacturing and Supply Chain Communications for Goodyear, said in a statement.
“We can confirm that Goodyear will be offering for sale up to 500 acres of excess property surrounding its Danville plant, including the golf course. This land is not currently being used for plant operations. This sale presents an opportunity to optimize Goodyear’s real estate footprint while supporting broader community development.
The Goodyear-Danville plant is not closing. It remains operational and continues to manufacture aircraft tires.”
A public records request revealed that the 222.61-acre golf course at 245 Jenny Lane in Danville is valued at approximately $1.69 million. For the remaining 278.39 acres, Land.com reports that the median price per acre in Pittsylvania County is $5,587.
