ChaCRE

Interesting to see this one come up for sale. The location, at first glance, looks like a good one but looking closer it becomes very problematic. No parking. Right up on N Market – Noisy for the residential. While the retail has visibility to both Market and Cherokee to actually get to the building is not easy or obvious. Lastly pedestrian activation is very constrained on the corner due to the aggressive intersection.

Nautilus Building

60 N Market St

$2,699,000 – $157.99/sf

17,083sf building

Marketing Details:

Nautilus Building 60 N Market St

It will be interesting to see how next year unfolds. My current sense echoes what the UT economist is saying that we will slow but thanks to being much more affordable than everywhere else we will continue to grow at a good clip.

https://www.timesfreepress.com/news/breakingnews/story/2018/dec/17/economic-growth-slow-tennessee/485018/

Interesting to see the users moving into this new building. Seems there is some pent up demand for well located new service office with parking.  It remains to be seen how long it takes to fill the remaining space and where the lease rates actually came in.

https://www.timesfreepress.com/news/business/aroundregion/story/2018/dec/14/new-chattanoogriverfront-office-building-fill/484942/

The latest hurdle has been cleared for this addition to the downtown housing project. Given the timing they may do well and deliver into a new cycle:

https://www.timesfreepress.com/news/business/aroundregion/story/2018/dec/13/downtown-chattanoogriverfront-project-gets-pa/484847/

Filling in the gaps. This will add another option for people to stay on the Southside:

https://www.timesfreepress.com/news/business/aroundregion/story/2018/dec/12/new-boutique-hotel-set-chattanoogas-southside/484786/

This presents another unique development opportunity on the Southside. Unfortunately it lies just outside of the downtown Opportunity Zone and so may rely on city incentives to be developed.

https://www.chattanoogan.com/2018/12/11/381375/City-Plans-To-Offer-13-Acres-Of.aspx

Clearly people are bullish on the number of apartment / condo dwellers who need storage for all their stuff:

https://www.chattanoogan.com/2018/12/11/381341/New-Self-Storage-Facility-Opens-On.aspx

This will provide a great anchor to push revitalization and traffic:

https://www.chattanoogan.com/2018/12/10/381250/Former-Dixie-Warehouse-On-12th-Street.aspx

A contentious rezoning was quickly passed yesterday. Not the best direction for the neighborhood but the alternatives are not straightforward or obvious. Maybe the best worst option for the site:

https://www.timesfreepress.com/news/breakingnews/story/2018/dec/10/rezoning-former-harriet-tubman-public-housing-site/484638/

More residential on East Main. This will likely spur even more interest in the East side of downtown:

https://www.timesfreepress.com/news/business/aroundregion/story/2018/dec/10/east-masee-more-housing-commercial40-townhome/484651/