TVA sells one of its downtown Chattanooga buildings

Ryan Dillard of the Dillard Partnership signs a document while Mike Tindle of TVA watches after he made the winning bid in a public auction of the former Tennessee American Water Company building Thursday, Sept. 3, 2015, in Chattanooga, Tenn. The building is located at Broad and 11th Streets between the TVA Office Complex and the Public Library.

By Dave Flessner September 3, 2015 2 min read

Dillard Development Co. purchased the former Tennessee American Water headquarters building in downtown Chattanooga today for $1,325,000.

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TVA sells surplus offices in downtown ChattanoogaShrinking utility consolidates in power headquarters

The former Tennessee American Water Company building, center is photographed Thursday, Sept. 3, 2015, in Chattanooga, Tenn. Located at Broad and 11th Streets between the TVA Office Complex, seen behind it, and the Public Library at right, the building was sold at auction by TVA on Thursday to the Dillard Partnership.

Ryan Dillard of the Dillard Partnership bids during a public auction of the former Tennessee American Water Company building Thursday, Sept. 3, 2015, in Chattanooga, Tenn. Located at Broad and 11th Streets between the TVA Office Complex and the Public Library, the building was sold by TVA to the Dillard Partnership.

The Edney Building, seen at left, is photographed Thursday, Sept. 3, 2015, in Chattanooga, Tenn., located at Market and 11th Streets between the TVA Office Complex, Warehouse Row and the Patten Towers.

The TVA Office Complex is seen between the Edney building, left, and the former Tennessee American Water Company building, right, on Thursday, Sept. 3, 2015, in Chattanooga, Tenn.

The Tennessee Valley Authority, which acquired the two-story office building at Broad and 11th Street in 2012, sold the unused building at a public auction this morning. Dillard emerged as the highest bidder for the 16,000-square-foot building among four bidders at today’s auction sale.

Ryan Dillard, a partner in the Dayton, Tenn.-based construction and development firm, said the new owners will spruce up the building and try to find new tenants.

“It’s a great building in a great location with its own parking,” Dillard said. “We don’t have specific plans currently, but we’re excited about purchasing it.”

Tennessee American occupied the building from 1978 to 2012 when it moved out and TVA bought the building, which is next door to the utility’s 1.4 million-square-foot Chattanooga Office Complex.