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Raines Group Offices
Four Squares Business Center
1200 Mountain Creek Rd.
Suite 100
Chattanooga, TN 37405
Phone: 423.875.3600
Fax: 423.875.9044
Newsflash
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William B. Raines, Jr., CCIM, CSM, RPA, President of The
Raines Group is pleased to announce the successful sale of a 16,300 sf
maintenance facility on Warehouse Road in Dayton TN. The Raines Group has been
contracted by SunTrust Bank to act as project manager for the site as well as
act as disposition agent for the 11.8-acre property. The Raines Group subdivided the property in order to execute the
sale of the 4+acre maintenance site. The Buyer, White Stone Logistics, will be
using the site for tractor-trailer maintenance and dispatch. Title Insurance Company of Dayton prepared
the Title work and First Bank provided the financing for the transaction.
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William B. (Bill) Raines, Jr., CCIM, CSM, RPA, President of The Raines Group is pleased to announce the sale of 106 Industrial Park Drive. The building which contains approximately 22,500 square feet of Class "A" office/warehouse flex space was sold to Darrell G. Moody and Anne-Marie Cardinale. The buyers own other property in the industrial park and plan to lease the building.
The seller, Cornerstone Community Bank, was represented by Principal Broker Bill Raines and Richard Rose, CPA, CIA, FLMI, who is also a Broker with The Raines Group.
This year, The Raines Group celebrates its twenty-fifth year of providing Commercial Real Estate, Brokerage, Management, Leasing and Investment services in the greater Chattanooga area. Other services available include: Acquisition/Development, Planning and Design, Construction Management and Marketing.
Congratulations Chattanooga for being selected as the location for the new Volkswagen Plant and the investment of one billion dollars at its Enterprise South site.
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List Agents
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Raines Group on Growth Track |
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Eight-seven percent of commercial real estate deals in the nation are brokered by small real estate firms, and one local broker said he's growing his company to chase those sales.
"We want that business," said William Raines Jr., president and chief executive officer of The Raines Group Inc.
 The Raines Group has always done commercial property brokerage and leasing for commercial and residential properties around the country, Mr. Raines said, and now intends to do more commercial sales.
"We have retooled ourselves to emphasize sales," he said.
Once BlueCross BlueShield of Tennessee builds and relocates to its new headquarters on Cameron Hill, Mr. Raines said, that will create a huge vacancy among downtown offices. Chattanooga is wellpoised to fill those empty offices by marketing on the national level, he said. Chattanooga has a lower occupancy cost, he said.
Chattanooga has more affordable utility rates than other areas. And other tenant expenses such as janitorial and security services are more affordable, Mr. Raines said. Chattanooga Class A office space is averaging from $12 to $16 per square foot, vs. $22 a square foot nationwide, he said.
"We can be competitive for investors and for companies looking to set up here," Mr. Raines said.
Leasing and management has traditionally accounted for two-thirds of Raines' portfolio, he said, but he's hoping to grow the brokerage side to that level. The firm is not forsaking leasing and management, though, he said.
E-mail Jason M. Reynolds at
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FIRM PROFILE Name: The Raines Group Inc.
Principal: William Raines Jr.
Affiliations: Resolution Trust Corp.; International Council of Shopping Centers; Building Owners and Managers Association;
National Association of Realtors; National Fire Protection Association; and Chattanooga Area Chamber of Commerce Staff: Includes eight agents; licensed professional engineer certified in Tennessee, Alabama and Georgia; licensed certified public accountant Clients: Raines manages and leases 1 million square feet of space. It manages Lovemans on Market.
Clients have included Erlanger hospital (design and development); Brainerd Village Shopping Center;
Eastgate Mall; Heritage Landing Condominium, all in Chattanooga; Hickory Hollow Mall in Antioch, Tenn.; Stones River Mall, in Murfreesboro, Tenn.; and American Savings and Loan, Stockton, Calif.
Web site: www.rainesgroup.com
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