A company tied to Chattanooga-based Echelon Fitness, which has seen growth climb during the pandemic, has sold its former headquarters building to a nonprofit that employs the visually impaired.
The 18,500-square-foot office and warehouse that sits on 2.61 acres at 6011 Century Oaks Drive was sold for $1.9 million to Lions Volunteer Blind Industries, according to real estate brokers.
Volunteer is a manufacturer in Morristown, Tennessee, where it produces a variety of camouflage covers and physical fitness apparel for the U.S. Army, according to the company's website.
Volunteer also produces mattresses, box springs, mattress pads and industrial paper wipes for cleaning, the website said. Its commercial bedding products are offered to contract customers, colleges and universities and retailers through factory outlets in Morristown and Johnson City, Tennessee.
Volunteer officials declined requests for comment about the use of the local space, which is in Bonny Oaks Office and Industrial Park.
The company traces its roots to 1951 when Lions Club members, National Industries for the Blind, the state and interested individuals began its mission of affording blind people with opportunities of "independence through employment," the website said.
The facility holds 11,126-square-feet of manufacturing space.
Jeff Jennings, a broker with NAI Charter Real Estate Corp., said Echelon and the related Viatek Consumer Product Group were well served by the structure which was bought in 2014.
"It's an excellent facility," he said, adding the new buyer is "a great use of the property as well."
The site became available after Echelon moved its home office to two floors in Liberty Tower, one of downtown Chattanooga's tallest buildings.
Lou Lentine, Echelon's founder and chief executive, said the company that sells stationary bikes, treadmills and other fitness gear, took 25,000 square feet on the sixth and seventh floors of the Chestnut Street high-rise. Echelon also leased 60,000 square feet of warehouse space on Riverside Drive.
Lentine said a few weeks ago that the company's financial picture for 2021 is "looking great."
"Fitness is not slowing down," he said. "Nothing is slowing down in our space."
Last December, Echelon revealed it had raised $65 million in new financing from Goldman Sachs Growth with participation from North Castle Partners to spur the company's expansion goals.
Lentine said Echelon has 85 employees in Chattanooga among its total of 250 people, not including 140 dedicated workers at its call center.
He projected that revenues would rise 25% in 2021 over the prior year, when the company experienced 1,000% growth.
Lentine is a serial inventor and promoter from New Jersey who brought Viatek to Chattanooga in 2011. He created Echelon in 2017 to provide what he called a more affordable stationary bike with the tracking and interactive features of Peloton and other higher-priced rivals.
Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318.