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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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Home
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Northtowne Center sell for $16.5 Million |
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The Northtowne Center in Hixson has sold for $16.5 million, according to officials of the Raines Group, which handled the transaction.
The center is located at 5450 Highway 153.
Bill Raines, owner, and Tony Brock, associate with the Raines Group, represented the owners in the brokerage transaction, which officials said is likely to be one of the largest in the metropolitan area this year.
The purchaser is a third generation, family-owned commercial real estate developer, Mimms Enterprises, based in the Roswell, Ga., area.
The company's portfolio totals 5,200,000 square feet with approximately 530 tenants. The company specializes in the development, leasing and management of retail, industrial and office properties.
The center, totaling 257,744 square feet, occupies a 25.11-acre parcel in a prime location on Highway 153.
Current tenants in the shopping center include Amigo's Mexican Restaurant, Blimpie, CitiFinancial, Dollar Tree, Factory Card Outlet, Fantastic Sam's, Hobby Lobby, Mandarin Garden, Milano's Italian Restaurant, Scrapbook Heaven, Shelter Insurance, STAPLES, Stockdale's Urban Outfitters, Unistitch Alterations, The Uniform Shop, U.S. 1.95 Cleaners and Wells Fargo Financial, among others.
Mr. Raines said, "Tony has done an excellent job brokering this property for the owner. His negotiation and business skills have made this a real brokerage success for The Raines Group and for Chattanooga.
"Incorporating other regional investors into property ownership is a huge leap for Chattanooga real estate and business. This single transaction alone will likely be one of the largest in the city limits this year."
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