Chattanooga: Krystal buys 4 acres from Longs on Broad

Chattanooga: Krystal buys 4 acres from Longs on Broad

February 3rd, 2009 by Mike Pare in Business

Krystal Co. has bought a 4-acre tract of land on Broad Street, and an official for the Chattanooga-based business said it's weighing its options for the parcel's future use.

"It's still in the planning process," said Bob Marshall, vice president of development for the fast-food restaurant company.

A Krystal subsidiary, Krea LLC, paid $1.35 million for the former Long Pontiac property at 3150 Broad St., buying it from H. Nelson Long III and Saphura S. Long.

Mr. Marshall said one plan calls for replacing the Krystal eatery that sits nearby on Broad Street.

Asked if the company also is considering offices at the site, Mr. Marshall said the use of the land is still in development and preliminary.

"It's a fairly large parcel," he said.

Krystal currently has office space in the Krystal Building, a downtown tower owned by Luken Holdings.

Mr. Marshall said Krystal plans to take down the buildings on the former Long property.

Lionel Hodges, president of the Southside Council of the Chattanooga Area Chamber of Commerce, said the property has been vacant.

"We are always happy to see property redeveloped and made useful," he said.

Mr. Long took over the South Broad Pontiac store from Andy Trotter in the late 1980s. He later built a Hyundai dealership off Highway 153 and moved the Pontiac store there in 2005.

In 2006, Prize Corp., a Chattanooga business that licenses software to auto dealerships, had eyed a major expansion with a $2 million renovation of the Broad Street site.

Officials had discussed refurbishing the former showroom of the auto dealership run by Mrs. Long, but those plans later changed.