This is an impressive number of new jobs coming to town. Combined with Amazon increasing its wages and the Spanish logistics firm setting up it’s HQ here it’s a great week for Chattanooga:
Economic News: Spanish Logistics Firm HQ Set Up in Chatt
This adds to the growth news coming from all directions and reinforcing the demand for commercial space:
A $4m Haircut on the Price Gets it done
Direct Flights to DC Starting
While not directly commercial real estate related this is a great additional step to connect Chattanooga with the rest of the country. The more of these connections we see the more people will be able to get here directly and the more investors and others will see the opportunities.
Barnes & Nobel Potential Sale
Opportunity Zone Clarification
I had thought there may be a way to invest in Opportunity Zones with capital not from an asset sale, however, I received the following response from EIG clarifying that the fund must be seeded with capital from a sale:
“The Opportunity Zones tax incentives only apply to investments made with capital gains dollars. Opportunity Funds can contain “mixed funds” — that is, capital gains and non-capital gains dollars, but any portion of any investment made with non-capital gains dollars would be accounted for separately essentially as a separate investment, and again would not qualify for any of the tax incentives.”
David Cervantes
Research & Policy Fellow
Economic Innovation Group
Downtown District Proposed
This will be an excellent move for downtown:
JLL National Industrial Report on Key Attributes of Warehouses
Interesting to see the market demand for small to mid sized industrial sites. That should prove a good thing for Chattanooga:
http://www.scmr.com/article/jll_takes_a_deep_dive_into_key_components_of_future_warehousing/news
Lupton City Mill and Chattanooga’s Industrial Past
Interesting update on the demolition of the old mill in Lupton City. Learning the history of Chattanooga: