Historic downtown Chattanooga Dome Building sold

Staff File Photo by Robin Rudd /  The Dome Building is seen at the center of this photo taken Oct. 25, 2022. The structure was constructed in 1892.
Staff File Photo by Robin Rudd / The Dome Building is seen at the center of this photo taken Oct. 25, 2022. The structure was constructed in 1892.

One of Chattanooga's most iconic downtown office buildings was purchased by a local real estate investment company that's taking a major stake in the central city.

The Dome Building, with its easily recognizable gold top overlooking downtown at Georgia Avenue and 8th Street, was bought by Fisher Bay, officials said Friday.

The seller was Urban Story Ventures, another Chattanooga firm, with wide real estate holdings in and outside the city.

Robert Fisher, a founder and partner in Fisher Bay, said in a telephone interview the 70,000-square-foot building constructed in 1892 is 100% leased up.

"We couldn't be more thrilled to have an asset as beautiful and historic as the Dome Building," Fisher said in a news release. "The prior owners have done a wonderful job of preserving this building as a premier icon in Chattanooga, and we plan to do the same."

Jimmy White, general partner and president of Urban Story Ventures, said in a statement the company has "come full circle with The Dome and are looking at our next chapter."

After purchasing the Dome Building in 2015, Urban Story took the building from inefficient and partially vacant to Energy Star-rated and fully leased, according to the company.

The purchase price wasn't announced for the building that for many years had housed The Chattanooga Times.

The Dome Building sits near the Flatiron Building, also on Georgia Avenue, which Fisher Bay is converting from an office-only complex to mixed-use. Plans include offices on the first floors and 15 upscale condominiums with attached parking and a private exercise room.

"Just like with the Flatiron Building we purchased just over a year ago, we love investing in this downtown historic corridor," Fisher said.

Also, as Fisher Bay targets real estate acquisitions, it has added two well-known Chattanooga businessmen as general partners to manage the Dome Building.

Greg Vital, president of Morning Pointe Senior Living in Chattanooga, and Michael Fillauer, chief executive of locally based medical device maker Fillauer LLC, were named.

Vital, who also is a state representative, had owned the Dome Building for 13 years before selling it to Urban Story Ventures in 2015.

"The Dome Building is such an iconic signature part of Chattanooga's skyline that I couldn't pass up the opportunity to again be a part of continuing the preservation of this Chattanooga history," he said in a statement.

In addition, Fisher Bay selected SVN Second Story Real Estate Management of Chattanooga to manage day-to-day property affairs.

Tiffanie Robinson, CEO of SVN Second Story, said in a statement the Dome Building is "ideal for SVN Second Story, and we couldn't be more excited to manage this premier asset."

According to Fisher Bay, the Dome Building was originally known as the Ochs Building after Adolph Ochs, then owner of The Chattanooga Times and The New York Times.

The building once was the city's tallest structure with a gilded, copper cupola directly above the six-story turret on the southwest corner, the company said. According to Fisher Bay, the building was designed by New York architects Theodore DeLemos and A.W. Cordes.

Urban Story Ventures has a portfolio that focuses on mixed-use space, office, industrial and retail sites. Among its projects is The Bend, a 120-acre parcel on Riverfront Parkway that was bought from GE Power for $30 million in 2018. In 2019, after a lengthy planning effort, Urban Story revealed possibilities for the tract including housing, hotels, manufacturing, offices, a canal, a food hall, music venue, child care center and more.

Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318.

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