Commercial Real Estate

Accelerated Activity Follows Burgeoning Business

Thanks to its top-notch, business-friendly environment and ideal location, Chattanooga is seeing a surge in commercial real estate activity – from advanced manufacturing growth to tantalizing tourism offerings. 

While the Chattanooga area has seen slightly stunted growth due to the COVID-19 pandemic, the area continues to attract both businesses and citizens with its pro-business resources, unparalleled outdoor opportunities, and prime location.

In fact, Chattanooga’s proximity to rail, water, and interstate systems continues to play a big part in manufacturing and logistics operations locating or expanding in the area. With the demand for industrial real estate rising, major industrial parks such as the Centre South Riverport Industrial Park and the 1,200-acre Enterprise South Industrial Park are a hotbed of activity.

In 2020 alone, Volkswagen ramped up its efforts on an $800 million expansion to its production facility that will add 750,000 square feet of industrial space, and McKee Foods Corp. announced project plans to more than double the size of its Apison plant. In addition, Southern Champion Tray is heading up a new manufacturing plant at the Centre South Riverport Industrial Park that will be situated on over 50 acres.

Other sectors contributing to the area’s strong economy are local companies and startups. In 2020, 11 Chattanooga companies made it on Inc.’s list of 5,000 fastest-growing companies, and Inc. even heralded the Scenic City as one of the top 50 places to start a business in 2020.

The same perks that make Chattanooga good for startups also make it good for established businesses, and companies such as Conversant Group, Legacybox, and Reliance Partners are adding tens of thousands of square feet of office space to their operations. 

Tourism in the Chattanooga area also continues to grow, and the economic impact has exceeded $1 billion in recent years. Additional support for the economy stems from a rise in seniors relocating to the area; the fastest-growing demographic in the Scenic City are those aged 55 or older who are moving for the low cost of living, outstanding quality of life, and favorable climate. 

Whether from companies’ expanding operations or people simply looking to call Chattanooga home, the city has responded to recent years’ growth with mounting retail, multifamily, healthcare, and hotel offerings. Among these are mixed use projects such as the 112-acre Alstom site, which builders are hoping to turn into a series of high-rise buildings in an area dubbed The Bend. Riverview and Southside are also slated to become home to several multimillion-dollar mixed-use developments in the coming years. 

With more jobs leading to more people living and working in the Scenic City, there is an added demand for new entertainment options and restaurants. The East Brainerd neighborhood continues to thrive and has recently welcomed a new Dave & Buster’s, while nearby East Ridge has seen the addition of Topgolf and Craft Axe Throwing. The area is also expected to boast even more restaurants and entertainment following the development of the new Chattanooga Red Wolves stadium. Cambridge Square in Ooltewah has also continued to see growth and is offering residents increased amenities. 

With tourism being a hallmark of Chattanooga’s economy, several hotel accommodations have emerged or been announced over recent years such as the Kinley located on the Southside, Bode: Chattanooga located downtown, and Aloft located in East Brainerd. In tandem, healthcare facilities have grown, with recent major projects including Tennova Healthcare – Cleveland’s Advanced Imaging Center, Erlanger Behavioral Health Hospital, and Children’s Hospital at Erlanger.

As Chattanooga’s economy continues to strengthen, sustained growth is expected for commercial real estate.

Did you know?

The Chattanooga area boasts a total of seven industrial parks including Enterprise South, Bonny Oaks, Centre South Riverport, Mountain View, Silverdale, Ooltewah, and Soddy Daisy.

The Pointe Center

Accelerated Activity Follows Burgeoning Business

Thanks to its top-notch, business-friendly environment and ideal location, Chattanooga is seeing a surge in commercial real estate activity – from advanced manufacturing growth to tantalizing tourism offerings. 

While the Chattanooga area has seen slightly stunted growth due to the COVID-19 pandemic, the area continues to attract both businesses and citizens with its pro-business resources, unparalleled outdoor opportunities, and prime location.

In fact, Chattanooga’s proximity to rail, water, and interstate systems continues to play a big part in manufacturing and logistics operations locating or expanding in the area. With the demand for industrial real estate rising, major industrial parks such as the Centre South Riverport Industrial Park and the 1,200-acre Enterprise South Industrial Park are a hotbed of activity.

In 2020 alone, Volkswagen ramped up its efforts on an $800 million expansion to its production facility that will add 750,000 square feet of industrial space, and McKee Foods Corp. announced project plans to more than double the size of its Apison plant. In addition, Southern Champion Tray is heading up a new manufacturing plant at the Centre South Riverport Industrial Park that will be situated on over 50 acres.

Other sectors contributing to the area’s strong economy are local companies and startups. In 2020, 11 Chattanooga companies made it on Inc.’s list of 5,000 fastest-growing companies, and Inc. even heralded the Scenic City as one of the top 50 places to start a business in 2020.

The same perks that make Chattanooga good for startups also make it good for established businesses, and companies such as Conversant Group, Legacybox, and Reliance Partners are adding tens of thousands of square feet of office space to their operations. 

Tourism in the Chattanooga area also continues to grow, and the economic impact has exceeded $1 billion in recent years. Additional support for the economy stems from a rise in seniors relocating to the area; the fastest-growing demographic in the Scenic City are those aged 55 or older who are moving for the low cost of living, outstanding quality of life, and favorable climate. 

Whether from companies’ expanding operations or people simply looking to call Chattanooga home, the city has responded to recent years’ growth with mounting retail, multifamily, healthcare, and hotel offerings. Among these are mixed use projects such as the 112-acre Alstom site, which builders are hoping to turn into a series of high-rise buildings in an area dubbed The Bend. Riverview and Southside are also slated to become home to several multimillion-dollar mixed-use developments in the coming years. 

With more jobs leading to more people living and working in the Scenic City, there is an added demand for new entertainment options and restaurants. The East Brainerd neighborhood continues to thrive and has recently welcomed a new Dave & Buster’s, while nearby East Ridge has seen the addition of Topgolf and Craft Axe Throwing. The area is also expected to boast even more restaurants and entertainment following the development of the new Chattanooga Red Wolves stadium. Cambridge Square in Ooltewah has also continued to see growth and is offering residents increased amenities. 

With tourism being a hallmark of Chattanooga’s economy, several hotel accommodations have emerged or been announced over recent years such as the Kinley located on the Southside, Bode: Chattanooga located downtown, and Aloft located in East Brainerd. In tandem, healthcare facilities have grown, with recent major projects including Tennova Healthcare – Cleveland’s Advanced Imaging Center, Erlanger Behavioral Health Hospital, and Children’s Hospital at Erlanger.

As Chattanooga’s economy continues to strengthen, sustained growth is expected for commercial real estate.

Did you know?

The Chattanooga area boasts a total of seven industrial parks including Enterprise South, Bonny Oaks, Centre South Riverport, Mountain View, Silverdale, Ooltewah, and Soddy Daisy.

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