Nine years after buying the former Miller Brothers building to house its Chattanooga operations, a sister company to Mesa Associates has acquired the three-story former Hub Furniture Store across the street.
Mesa Properties Chattanooga, which is owned by the same group that owns the Madison, Alabama-based engineering and consulting firm of Mesa Associates, paid $4.2 million to buy the 33,000-square-foot building at 631 Broad Street.
The building was erected in 1920 and housed the Hub Furniture store before BlueCross BlueShield of Tennessee bought the structure in the 1980s and used it until it opened its $299 million corporate campus atop Cameron Hill a decade ago.
Photo by Dave Flessner / Mesa Properties, a sister company of Mesa Associates, purchased the former Hub Furniture building at 631 Broad Street for $4.2 millionBerry & Hunt, the Chattanooga-based real estate management and development firm, bought the building from BlueCross in 2009 for $1.98 million. Steve Hunt, the managing principal of Berry & Hunt, said the second floor of the building has been leased to Mesa Associates, which also owns and occupies much of the larger former Miller Brothers building between Market and Broad Streets.
“It was a good opportunity to sell the building at an attractive price to Mesa,” he said.