Commercial Real Estate

Did You Know?
The Read House Hotel originally opened in 1872, rebuilt in 1926, and has hosted Winston Churchill, Gary Cooper, Oprah Winfrey, and Al Capone.

 

Since 2014, more than 14,000 jobs have been added in the metro area. In advanced industries alone, another 10,000 jobs are expected in the next few years.  Population growth is steady, with the highest growth rate in aging baby boomers who are choosing the Chattanooga area for their retirement. These economic expansion and population trends have led to an increased demand for commercial real estate, including land for industry, downtown apartments and mixed-use space, hotels, restaurants, and expanded healthcare facilities.

With Volkswagen ramping up production on their new midsize SUV and their recent hiring spree of more than 1,000 employees, auto suppliers and other businesses have gobbled up available commercial space in Enterprise South Industrial Park. The only remaining space is a 250-acre plot that is being developed for new suppliers and industries. Among the newest additions near the Volkswagen plant is FedEx’s new $30 million distribution center, slated to open in August 2017.

With a projected 25% population growth in baby boomers by 2020, nearly $1 billion in new leisure, retail, office, and residential space is under development or pre-development downtown, according to the River City Company. Much of the development is for mixed-use facilities, containing retail shops, offices, or restaurants on the ground floor and apartments on the top floors. The increasing desire to live, work, and play in the same space has led to the boom in mixed-use design. Baby boomers, choosing their city for retirement, and young professionals, wanting to live close to their jobs, are leading the demand for living spaces downtown, and the number of people living downtown is projected to double in the next couple years. In response, developers are renovating nearly century-old buildings and building new developments in City Center, the Southside, MLK, South Broad, and North Shore. Mixed-use development is also increasing in Hixson, Ooltewah, and East Brainerd, as companies are constructing new developments with apartments above retail and office space.

With 3.5 million annual visitors spending over $1 billion dollars, hotel development and management companies are continuing to expand. The historic Read House hotel was bought by Avocet Hospitality Group and is being renovated and restored to its 1920s grandeur. The long-vacant, historic St. George Hotel on Market Street is set to undergo a $20 million renovation and floor addition. Several upscale and boutique hotels have just opened or are slated for opening this year, including the Dwell Hotel, Westin Hotel, the Edwin Hotel, operated by Vision Hospitality Group, Moxy Hotel by 3H Group Hotels, and Aloft, managed by Starwood Hotel & Resorts Worldwide. Vision is also constructing an 88-room Hampton Inn in East Ridge, near Camp Jordan, and a Home2 Suites near Hamilton Place.

Retailers and grocery stores are expanding and moving in to the Chattanooga area. Big box retailers, such as Gander Mountain in Hixson, Cabela’s in Ringgold, and Bass Pro Shops in East Ridge, have recently opened. Retailers, including Vans, Oakley, and Dos Bros, are joining Hamilton Place. New grocery stores, including Earth Fare and Walmart Supercenter, are expanding in the area. New restaurants, from casual eateries to fine dining, have opened throughout
the area as well.

Several of the largest hospitals, including Erlanger Health System and Parkridge Health System, are continuing to expand their facilities. Erlanger Health System is finishing its expansion of Erlanger East on Gunbarrel Road, and they recently announced plans for a $25 million mental health hospital. Parkridge Medical Center is currently undergoing its largest renovation project in the last 20 years, a $62 million investment in the downtown facility.  HealthSouth Chattanooga Rehabilitation Hospital just completed a 27,100-square foot expansion.

As Chattanooga’s economy continues to expand and population trends stay the same, demand for commercial properties will continue to grow.

COMMERCIAL REALTORS, DEVELOPERS, & GENERAL CONTRACTORS

Accent Construction Management
(423) 643-2050
accent.construction

Adamson Developers, LLC
(423) 510-8615
adamsondevelopers.com

ANT Group
(423) 760-2134

Berkshire Hathaway Home Services Realty Center
(423) 643-9300
realtycenter.com

Berry Construction Company
(423) 267-2234
berryconstruction.net

berryhuntcs2015-web

Berry & Hunt
(423) 267-8112
berryhunt.com

Bill Worley Construction
(423) 698-9330
billworleyconstruction.net

Boehm & Jewell Real Estate Company
(423) 531-0114
tngacommercial.com

Broad Street Partners, LLC
(423) 266-4448

Brown Dog Construction
(423) 618-9931
browndogconstruction.com

Capstone Investment Properties
(423) 821-7558
capstoneinvestmentproperties.com

CBL & Associates Properties, Inc.
(423) 855-0001
cblproperties.com

Charter Real Estate Corp.
(423) 267-6549
naicharter.com

Chattanooga Construction, LLC
(423) 490-9999

Chattanooga Land Company
(423) 756-2525

Chazler, Inc.
(423) 899-3606
chazler.com

Coldwell Banker Commercial, Hamilton & Associates
(423) 476-5535
hamiltoncommercial.com

Collier Construction Company
(423) 265-0110
collierbuild.com

Cornerstone Realty Group, LLC
(423) 894-0156
cornerstonerealtygroup.net

Dillard Construction, Inc.
(423) 775-1793
dillardconstruction.com

Embark Project Services
(423) 208-9897
embarkps.com

EMJ Corporation
(423) 855-1550
emjcorp.com

Fidelity Trust Company
(423) 756-1071
fidelitytrustco.net

Fletcher Bright Company
(423) 755-8830
fletcherbright.com

Franklin L. Haney Company
(423) 265-0537
flhcompany.com

GenTech Construction, LLC
(423) 267-3373
gentechconstruction.com

Green Form
(423) 531-0222
mygreenform.com

Helton Construction Co., Inc.
(423) 875-8850
heltoncc.com

Herman Walldorf & Co., Inc.
(423) 756-2400
walldorf.com

Hudson Commercial, LLC
(423) 486-1020
hudson-companies.com

The Hutton Company Inc.
(423) 756-9267
hutton.build

J&J Contractors
(423) 265-3233
jjcontractors.com

J. Brewer and Associates
(423) 877-4975
jbrewerassoc.com

James H. Wright Construction Company, LLC
(423) 227-1223
jhwcc.com

JC Curtis Construction Co.
(423) 894-5480
jccurtisconstruction.com

JDK Real Estate, LLC Kenco Group
(423) 643-3258
kencogroup.com

Jim Berry Company
(423) 756-2507
jimberrycompany.com

Keller Williams– Downtown
(423) 664-1900
kwchatt.com

Ken DeFoor Developments
(423) 855-0784
defoordevelopments.com

KPH Development
(423) 266-4323
kphdevelopment.com

KTM Builders, LLC
(423) 595-1677
ktmbuildersllc.com

Lavish Building and Design
(423) 987-6509
lavishbuildinganddesign.com

Liberty Commercial Real Estate
(423) 702-5936
lcrec.com

Logan-Moore, LLC
(423) 624-3315

Lowder and Lowder Construction
(423) 870-1731
lowderandlowderconstruction.com

Luken Holdings, Inc.
(423) 756-1200
lukenholdings.com

Mathews Construction
(423) 877-1208

Morgan Construction Company, Inc.
(423) 266-6218
morganconstruction.com

MPL Construction Co.
(423) 899-7737
mplconstruction.com

New Blue Construction
(423) 490-7073
newblueconstruction.com


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P & C Construction, Inc.
(423) 493-0051
pc-const.com

Pat St. Charles Company
(423) 267-4404
patstcharlescompany.com


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Pointe Commercial Real Estate
(423) 755-0846
pointecre.com

Pointe General Contractors, LLC
(423) 755-0845
pointegc.com

Pointe Property Group
(423) 755-0844
pointecentre.com

Protecnica, Inc.
(423) 486-1081

The Pryor Bacon Company
(423) 855-5555
pryorbacon.com

Raines Brothers, Inc.
(423) 265-0467
rainesbrothersinc.com

The Raines Group, Inc.
(423) 875-3600
rainesgroup.com

RBR Properties
(423) 991-9398

RE/MAX Renaissance Realtors
(423) 756-5700
renaissancerealtors.
tennessee.remax.com

Real Estate Partners Chattanooga, LLC
(423) 265-0088
homesrep.com

Rentenbach Constructors, Inc
(423) 826-1640
rentenbach.com

River City Company
(423) 265-3700
rivercitycompany.com

RPM and Associates
(423) 875-8940
rpmassociatesinc.net

RSU Contractors of Chattanooga
(423) 243-3655
rsucontractors.com

RT Construction
(423) 316-9702

Schaerer Contracting Company, Inc.
(423) 698-2426
schaererco.com

Signature Brokers
(423) 521-3476
thesignaturefirm.com

Soloff Properties
(423) 605-3852
soloffproperties.com

Southeast Commercial
Properties

(423) 658-1463
southeastcom.com

Stein Construction Company, Inc.
(423) 698-0271
steinbuilds.com

Sterchi Construction
(423) 266-4868
sterchiconstruction.com

Stone Fort Properties
(423) 602-9800
stonefortproperties.com

The Strauss Company, Inc.
(423) 265-3201
straussco.com

SVN / Healy & Company
(423) 266-5587
healyandcompany.com

T. E. Properties, Inc.
(423) 265-4800
teproperties.com

T. Gene Edwards Inc.
(423) 629-5828
tgeneedwards.com

T.U. Parks Construction Company
(423) 648-3800
tuparks.com

Thomas Brothers Construction Co.
(423) 842-6233

Thunder Enterprises
(423) 265-0781
thunderenterprises.com

Tower Construction Company
(423) 629-2043
towerconstructionco.com

Tri-State Roofing Contractors, LLC
(423) 825-4261
tstateroofing.com

Upward Realty
(423) 847-8001
upwardrealty.com

Vega Corporation of Tennessee
(423) 266-8876
vega-corp.com

Welch Construction
(423) 208-4078
welch-construction.com

Winesett-Hill Constructors, Inc.
(423) 877-2477
winesett-hill.com

Wise Properties
(423) 634-1900
wiselivingonline.com

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