A building under construction in an East Brainerd mixed-use center that is slated to hold a Tesla showroom and service center is listed for sale.
The property at 2415 Elam Lane is listed for sale under a 12-year leaseback agreement with Tesla for $13.3 million, a real estate brochure shows.
The company's Chattanooga location will go into a leased space in the Waterside development and will hold 26,730 square feet when it opens later this year, according to commercial real estate brokers Todd Moore and Connor Duffy of Colliers.
This site sits within a retail corridor that sees 7.4 million visits each year, according to the brochure, and services customers as far as 60 miles away.
In 2022, Stockbridge, a private equity real estate investment management firm based in Atlanta, acquired most of the Village at Waterside shopping center near Hamilton Place mall for $50.8 million as part of a half dozen properties the firm recently bought across the Southeast.
A partnership organized by Stockbridge, known as SCG BR Waterside LP, acquired four tax parcels, including those anchored by REI, Burlington, Haverty and Publix, in the Waterside development just north of Shallowford Road between Interstate 75 and Gunbarrel Road in East Brainerd, according to filings with the Hamilton County Register of Deeds.
Tesla in July posted deliveries of 466,140 vehicles in the second quarter with revenues of $21.3 billion, up 46% from the same period a year ago.
ABOUT THE SITE
* Location: 2415 Elam Lane
* Sale price: $13.3 million
* Size: 26,730 square feet
* Parking: 25 spaces
* For more info: Todd Moore and Connor Duffy of Colliers