Archive for June, 2016

Construction Beginning Soon on Southside Apartment Building

Wednesday, June 22nd, 2016
Rendering of the new apartment building to be built on the 1400 block of Chestnut Street.

Rendering of the new apartment building to be built on the 1400 block of Chestnut Street.

Construction is soon to begin on a new apartment building at 1400 Chestnut Street in Chattanooga’s Southside neighborhood.

The 1400 Chestnut project is a five-story apartment building that will offer 210 one- and two-bedroom units with on-site parking spaces for residents. Units will range from around 650 SF to 1150 SF.

1400 Chestnut is being developed by Kore, LLC, a Birmingham, AL based multifamily development company. Kore’s team has managed over $1 billion in commercial construction and development projects over the last 42 years.

The apartment building will front Chestnut Street and look over the Main Terrain Park to the east. The developer’s plans include a parking level that will be screened from public view to create a more pedestrian-friendly look and “pocket parks” along the building’s ground level to encourage pedestrian interaction.

The 1.62 acre lot, which has been vacant since the 1980s, sold earlier this year for $1,375,000. Rudy Walldorf, CCIM with Herman Walldorf Commercial, Inc. represented the buyers.


New Life for Older Shopping Center

Thursday, June 16th, 2016


4825 Dayton BoulevardThe former BI-LO anchored shopping center at the intersection of Dayton Boulevard and Browntown Road has been purchased by Duane Hixson, the owner of B & D Salvage Company.

The center contains approximately 45,000 square feet of retail space on 13.25 acres. It had largely been unoccupied since 2006 when BI-LO (now Food City) built a much larger store at the corner of Morrison Springs Road.

The initial plans are to renovate the center with B & D occupying the former grocery store area of 28,000 square feet, plus the adjacent shop of 7,000 square feet. Mr. Hixson is considering a new addition to the west side of the grocery.

This new store will be a relocation of the B & D Salvage store from the former Food Lion store on Mountain Creek Road.

As previously announced, the Food Lion center was vacated to enable the construction of a $4,000,000 conditioned storage facility.

The purchase price for 4825 Dayton Boulevard was $725,000.

Rudy Walldorf, CCIM, of Herman Walldorf Commercial, Inc., represented the seller in this transaction with Tom Cofer of RiverCity Realty representing the buyer.

Old Food Lion on Mountain Creek to be turned into $6M self-storage

Friday, June 10th, 2016
Ziff Properties Plans Self-Storage Conversion of Former Food Lion

Ziff Properties Plans Self-Storage Conversion of Former Food Lion

A Chattanooga shopping center at the foot of Signal Mountain that formerly held a Food Lion store will be converted into self-storage space in a nearly $6 million project.

A venture between Ziff Properties of Mt. Pleasant, SC, and Reliant Self Storage is expected to redevelop the Mountain Creek Road center, said Christian Chamblee, Ziff’s chief operating officer and director of acquisitions.  “We saw the opportunity to not only provide storage but clean up that shopping center,” he said.

Read More . . .

Old Food Lion on Mountain Creek Road