NAI Charter Real Estate Annual Report - 2014
414 Vine Street Chattanooga, TN 37403 (o) 423.267.6549 www.naicharter.com
CChattanooga, Tennessee
Chattanooga News
Successful 2014 for Chattanooga Economic Development
Volkswagen announced a new SUV production line that will result in a $600 million capital invest-ment and 2,000 new employees.
Coca-Cola Bottling Company United announced a $62 million expansion that involved the acqui-sition and demolition of the former Olan Mills facility on Hwy 153 as well as property assemblage to accommodate the project. Coca-Cola will also hire 43 new employees.
Plastic Omnium, a Paris based automotive supplier, is constructing a $70 million facility in Enter-prise South Industrial Park and will hire 300 employees.
Van de Wiele, a manufacturer of machines for the textile industry, announced plans to relocate their corporate headquarters from Charlotte to Chattanooga. They are currently building a new facility in Ooltewah and will locate 30 employees.
Mahindra recently constructed a 70,000 sf tractor assembly facility in Centre South Industrial Park. The company will employ 100 people at full operation.
Chattem Chemicals, owned by Sun Pharma, recently announced a $6 million expansion and will hire 25 employees.
WNA, which manufactures plastic packaging materials, made an $11 million investment and is hir-ing 40 employees.
Southern Champion Tray, a manufacturer of paperboard packaging primarily for the food industry, announced an $18 million expansion and will hire more than 100 new employees.
ERMC/U.S. Calvary, an outfitter for police and security personnel, announced a new location and will hire 75 new employees.
Source: Chattanooga Area Chamber of Commerce.
MMarket Overview
Featured Property LLupton Drive
For Sale
216 Acres on the Tennessee River
Lupton Drive & Mercer Street Chattanooga, Tennessee
Sale Price - $10,250,000 Five Parcels Total - 216 +/- Acres
3,300 feet of Tennessee River Frontage.
For More Details Contact David DeVaney, SIOR, CCIM
Top Transactions
Location: Olan Mills Drive
Sale Price: $9,077,000
Seller: Olan Mills & Dillard Partnership
Buyer: Coca-Cola Bottling Company United
Land Size: 47.75 Acres
22014
Location: 629 Market Street
Lease Rate: Undisclosed
Landlord: Mesa Properties Chattanooga, LLC
Tenant: Joseph Decosimo & Company, PLLC
Space Size: 36,260 SF
Location: 6300 Enterprise Park South
Lease Rate: Undisclosed
Landlord: Walnut Hill
Tenant: Sears
Space Size: 100,000 SF
Premier Office
Premier Land
Premier Industrial
Completed
Transaction Volume
2014 Clients Sample of clients successfully represented by NAI Charter
2014 Statistics
Chattanooga’s Leader in Transaction VolumeChattanooga’s Leader in Transaction VolumeChattanooga’s Leader in Transaction Volume
Over 770,000 SF Sold & Leased
Transaction Volume
$48,596,683$48,596,683
Office News
CBL II 2034 Hamilton Place Blvd
FOR LEASE - Class “A” Office Space Rate: $22.50 SF Full Service Available: 1,475 - 8,425 SF Located: Near I-75 and Hamilton Place Mall Listing Agent: David DeVaney, SIOR, CCIM
Siskin Learning Center 1602 Gunbarrel Road
FOR SALE - Office Space Price: $1,995,000 Property Size: 14,624 SF on 1.58 Acres Located: Near Hamilton Place Mall & Erlanger East Listing Agent: Chad & Parker Wamack
Southside Station 1405 Cowart Street
FOR LEASE - Class “A” Office Space Rate: $20.00 SF - NNN Available: 2,500 - 3,500 SF Located: Downtown Southside District Listing Agent: Chad & Parker Wamack
Market Center 820 Market Street
FOR LEASE - Class “A” Office Space Rate: $21.50 SF - Full Service Available: 3,100 - 8,400 SF Located: Downtown Central Business District Listing Agent: David DeVaney, SIOR, CCIM
FFeatured Listings
Office News
Shallowford Business Park East 2100 Chapman Road - Multi-Tenant Complex
Tenant: Heartland Payments dba Debitek Lease Rate: Undisclosed Space Size: 26,925 SF Listing Agent - Jeff Jennings, CCIM
Highlighted Transactions
Mesa Building 629 Market Street - Office Building
Tenant: Decosimo & Associates Lease Rate: Undisclosed Space Size: 36,260 SF Listing Agent: David DeVaney, SIOR, CCIM
Wilkins Center 1726 Gunbarrel Road - Medical/Office
Tenants: Multiple Lease Rates: $22.00 SF Building Size: 15,000 SF (FULL) Listing Agent: Jeff Jennings, CCIM
CBL II 2034 Hamilton Place Blvd
Tenant: American General Lease Rate: $21.22 SF Leased: 4,327 SF Listing Agent: David DeVaney, SIOR, CCIM
LEASED
LEASED
LEASED
LEASED
Industrial News
351 Labeling Way - Chattanooga, TN
FOR LEASE Rate: $2.75 SF Gross Size: 125,000SF 6 - Loading Dock / 1 - Drive In Lot Size: 3.39 +/- acres Listing Agent: Bryan Rudisill, SIOR, CCIM
6001 Lee Hwy - Chattanooga, TN
FOR SALE Price: $2,575,000 Total Size: 110,998 SF Multiple Buildings on Property Lot Size: 20 +/- acres Listing Agent: Bryan Rudisill, SIOR, CCIM
1312 42nd Street - Chattanooga, TN
FOR SALE or LEASE Rate: $3.05 SF NNN or $2,500,000 Size: 100,000 - 200,000 SF 8 - Loading Docks / 2 - On Grade (each building) Lot Size: 32 +/- acres Listing Agent: David DeVaney, SIOR, CCIM
475 Reed Road - Dalton, GA
FOR SALE Price: $4,500,000 Size: 96,625 SF 2 - Dock Doors / 1 - On Grade Lot Size: 86 +/- acres Listing Agent: David DeVaney, SIOR, CCIM
FFeatured Listings
PENDING
Industrial News
757 River Terminal - Chattanooga, TN
Purchaser: Dillard Construction 30,225 SF Industrial Building / 4.86 acres Purchase Price: $1,850,000 Listing Agent: Bryan Rudisill, SIOR, CCIM Buyer’s Agent: David DeVaney, SIOR, CCIM
Highlighted Transactions
2880 Amnicola Hwy - Chattanooga, TN
Purchaser: Fillauer Co. 35,388 SF Industrial Building / 3.11 acres Purchase Price: $1,310,000 Listing Agent: David DeVaney, SIOR, CCIM
3806 Amnicola Hwy - Chattanooga, TN
Purchaser: David Morris 27,600 SF Industrial Building / 2.44 acres Purchase Price: $1,025,000 Listing Agent: Chad Wamack & Parker Wamack
4191 South Creek Road - Chattanooga, TN
Purchaser: Amnicola Partners 57,600 SF Industrial Building / 3.9 acres Purchase Price: $1,200,000 Listing Agent: Jeff Jennings, CCIM Buyer’s Agent: David DeVaney, SIOR, CCIM
8811 Production Lane - Chattanooga, TN
Purchaser: MapleLeaf 62,115 SF Industrial Building / 6.5 acres Purchase Price: $1,925,000 Listing Agent: Chad Wamack & Parker Wamack
SOLD
SOLD
SOLD
SOLD
SOLD
Land News
1203 Carter Street - Chattanooga, TN
FOR SALE - Potential Hotel Site Price: $840,000 Land Size: 0.53 +/- acres Located: Downtown Chattanooga off Hwy 27 Listing Agent: David DeVaney, SIOR, CCIM
I-75 @ Apison Pike - Ooltewah, TN
FOR SALE - Industrial Land Price: $150,000 per acre Land Size: 83 +/- acres Located: On I-75, same exit as Volkswagen & Amazon Listing Agent: Bryan Rudisill, SIOR, CCIM
345 Roadway Drive - Ringgold, GA
FOR SALE - Industrial Land Price: $1,650,000 Land Size: 45 +/- acres Located: Near Costco & Cabela’s Listing Agent: Bryan Rudisill, SIOR, CCIM
804 N Holtzclaw Avenue - Chattanooga, TN
FOR SALE - Medical/Office Land Price: $1,361,250 Land Size: 6.04 +/- acres Located: Downtown Chattanooga, near (3) hospitals Listing Agent: David DeVaney, SIOR, CCIM
FFeatured Listings
6162 Enterprise Park Drive - Chattanooga, TN
FOR SALE - Industrial Land Price: $943,000 Land Size: 7.55 +/- acres Located: In Bonny Oaks Industrial Office Park Listing Agent: David DeVaney, SIOR, CCIM
Land News
HHighlighted Transactions
Coca-Cola Bottling Company United Olan Mills Drive
Location: Olan Mills Drive Purchase Price: $9,077,000 Land Size: 47.75 acres Represented by: David DeVaney, SIOR, CCIM
Speedway - 3 Locations
Location: Cleveland, TN Purchase Price: $1,200,000 Land Size: 3 acres
Location: Mount Juliet - Hwy 70 Purchase Price: $650,000 Land Size: 2.7 acres
Location: 3rd @ Holtzclaw Purchase Price: $1,110,000 Land Size: 1.5 acres Represented by: David DeVaney, SIOR, CCIM & Jeff Jennings, CCIM
6059 Relocation Way Ooltewah, TN
Purchaser: Van De Wiele Purchase Price: $1,200,000 Land Size: 5.25 acres Listing Agent: Chad Wamack & Parker Wamack
Retail News Featured Listings
Chicken Salad Chick - 2 Locations
1st Location: 629 Market Street 3,980 SF 2nd Location: 1800 Gunbarrel Road 2,500 SF Represented by Jeff Jennings, CCIM
Chicken Salad Chick is a place all chicken salad lovers can find something they enjoy. With 15 different chicken salads to choose from, there is something for every palate. Based in Auburn, Alabama, Chicken Salad Chick has expanded to 10 location in Alabama, Georgia and Tennessee.
Highlighted Transactions
East Brainerd Galleria 7540 East Brainerd Road
FOR LEASE Rate: $19.00 SF Gross Available: 4,200 SF & 2,300 SF Located short distance from I-75 & Hamilton Place Mall Listing Agent: Chad & Parker Wamack
Shogun Japanese Restaurant 1806 Gunbarrel Road
FOR SALE Price: $3,000,000 Building Size: 8,000 SF / 1.1 acre Located near Hamilton Place Mall Listing Agent: Jim Fitzpatrick, SIOR, MAI
Atrium Medical Center 1949 Gunbarrel Road - Chattanooga, TN
Surgery Center & Professional Building
Total Size: 103,000 +/- SF
Land Size: 4.5 acres
Purchase Price: $14,000,000
Listing Agent: J. Bryan Rudisill, SIOR, CCIM Atrium consists of two buildings, Building One is a 45,557sf Surgery Center and Building Two is a 57,531sf Professional Building. Currently occupied by 12 medical tenants. The property is located next to Hamilton Place Mall. Zoned C-2
Investment News FFeatured Listing
Highlighted Transaction
Shallowford Business Park East 2115 Chapman Road - Chattanooga, TN
Purchaser: Trinity Partners
Total Size: 68,454 +/- SF
Land Size: 3.9 acres
Purchase Price: Undisclosed
Represented by: Jeff Jennings, CCIM Shallowford Business Park East is a multi-tenant complex consisting of office and industrial space. The property is located off the Shallowford Exit on Hwy 153. The complex is over 70% occupied. The leasing agent is Jeff Jennings, CCIM.
SOLD
FOR SALE
Property Management OOverview
NAI Charter offers a full service property management program that encom-passes a unique hands on approach. We serve as a single point-of-contact for both the owner and the tenant, providing streamlined communication. We devise and implement a plan that maximizes cash flow and return on your investment, ultimately creating additional value.
NAI Charter’s property managers stay on top of industry trends by participat-ing in organizations such as Institute of Real Estate Managers (IREM) and Building Owners and Managers Association (BOMA). As part of NAI, we share best practices and stay on the absolute cutting edge of the industry. Contact Us: NAI Charter Management Company 414 Vine Street Chattanooga, TN 37403 Phone (423) 267-6549 naicharter.com
SUMMARY OF MANAGEMENT SERVICES
Administrative: Annual Budgets Billing and Collections Monthly Reports Property Tax Consulting CAM Reconciliation
Management: Tenant Relations On Site Inspection Leasing Lease Enforcement Construction Management Lease Administrations
Maintenance: Preventative Maintenance Programs On Call 24-Hour Maintenance Competitive Bidding of All Work Inspection of Work Performed Vendor Relationships Maintenance Reports
Management Team:
David DeVaney, SIOR, CCIM President David is President and principal broker for NAI Charter/Charter Management Company. He has been with NAI Charter since 1988 and holds the SIOR and CCIM designations.
Amie Thomas Controller & Property Manager Amie handles all the financial and accounting services for NAI Charter/Charter Management Company as well as manages all the office, retail and industrial properties. She has been with NAI Charter since 2003. CPM Candidate.
Mary Brannon Marketing & Property Coordinator Mary handles all the marketing for NAI Charter/Charter Management Company and assists with Property Management. She has been with NAI Charter since 2008.
Agents & News OOur Team
Accomplishments:
Chad Wamack
January 2014 - Huntsville, AL Mtn Mist Trail Run 50k
March 2014 - Birmingham, AL Oak Mountain Trail Run 50k
April 2014 - Ocoee, TN Cohutta Mtn Bike Race 100 mile
May 2014 - Ocoee, TN Thunder Rock Trail Run 100 mile October 2014 - Staunton, VA Grindstone Trail Run 100 mile 2014 - Black Mountain, NC Mt Mitchell Trail Run Challenge 40 mile
David F. DeVaney, SIOR, CCIM President 30 years experience Graduate of Auburn University
Member of: Society of Industrial & Office Realtors Certified Commercial Investment Member Rotary Club Board of Directors - Chattanooga Area Chamber of Commerce
J. Bryan Rudisill, SIOR, CCIM Vice President 27 years experience Graduate of East Tennessee State University
Member of: Society of Industrial & Office Realtors Certified Commercial Investment Member President of East TN SIOR Chapter Past President of East TN CCIM Chapter
Arnold E. Farmer, SIOR, CCIM Vice President 38 years experience Graduate of University of Tennessee at Chattanooga
James G. Fitzpatrick, SIOR, MAI Broker/Appraiser 41 years experience Graduate of Mississippi State University
Jeff B. Jennings, CCIM Broker 13 years experience Graduate of University of Tennessee
E. Parker Wamack Broker 38 years experience Graduate of Middle Tennessee State University
Chad Wamack Broker 14 years experience Graduate of University of Tennessee
Member of: Society of Industrial & Office Realtors Certified Commercial Investment Member BOMA Past President of Commercial Industrial Divi-sion of Chattanooga Association of Realtors
Member of: Society of Industrial & Office Realtors Appraisal Institute
Member of: Certified Commercial Investment Member Past President of Commercial Industrial Divi-sion of Chattanooga Association of Realtors Baylor School Alumni Board
Member of: Kiwanis Club Board of Directors - Boyd Buchanan School
Member of: Certified Commercial Investment Candidate Board of Directors Commercial Realtors Council
Bryan Rudisill
April 2014 - Ocoee, TN Big Frog Mtn Bike Race 65 mile
May 2014 - Chattanooga, TN 3 State 3 Mountain 100 Mile
Sept 2014 - Dahlonega, GA Fools Gold Bike Race 50 mile
Sept 2014 - Dahlonega, GA Six Gap Century 100 Mile Oct 2014 - Lookout Mtn, GA 5 Points Mtn Bike Race 50 mile
414 Vine Street Chattanooga, TN 37403 423.267.6549 naicharter.com
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