Initially, commercial real estate brokers Brian Chadwick and Baker Townsend teamed up to lease 6228 Perimeter Drive in Chattanooga, Tennessee but ended up bringing in a buyer and negotiating a successful sale. The property is a unique mix of office and industrial, including a large studio and showroom, plus drive-in access to the industrial space.
Earl Story, the property owner, initially planned to lease the available space after the long-time tenant downsized. "It was a good property, with the same tenant for more than 20 years," Story stated. "Brian and Baker — those guys are Johnny on the spot. I hadn't really considered selling, but when a company made an offer, the SVN team negotiated the numbers and showed me the opportunity."
The property sold for $2.5 million and was on the market for less than 100 days.
"One of the things we're able to do as advisors is look at a property from a different perspective and really see an opportunity that's outside of the real estate listing," said Townsend. "This was a fast-moving sale that could have been successful in a lot of different ways. Having this deal come together so well for Earl was the kind of success we strive to achieve for every client," added Chadwick.