Site of BlueCross BlueShield of Tennessee 216-are site in Lupton City.A decade after abandoning plans to relocate its corporate campus to Lupton City, BlueCross BlueShield of Tennessee is putting the 216-acre site up for sale.
The riverfront property, listed for sale at $10.25 million, is one of the biggest undeveloped, level sites in the city and could prove attractive for another corporate campus, office park or mixed residential and business development on the Tennessee River.
The property now houses the 9-hole Lupton City golf course along the river, which the golf course leases from BlueCross. It also includes another 54 acres of nearby land along Lupton Drive near the former Lupton City thread mill once owned by Dixie Yarns and later R.L. Stowe Mills Inc.
“It’s a beautiful piece of land with pristine views on the river in the middle of a metropolitan area and you just don’t see that type of development opportunity so close to our downtown – or the downtown of any metropolitan area – and that’s what makes this a very special parcel,” said David DeVaney, president of NAI Charter Real Estate, which BlueCross hired as the exclusive broker for the site. “This is in the heart of metro Chattanooga and could be used as an office park, for light industry, for residential development or for a mixed use project.”
BlueCross bought the site in December 2001 when the insurer was trying to consolidate its Chattanooga operations, then housed in 10 separate office buildings, into a single corporate campus.