The Craftworks Building at 201 W. Main St.
Purchase price: $11.2 million
The century-old Craftworks Building at 201 W. Main St. was sold by a group led by former Chattanooga Mayor Jon Kinsey to Walk2Town Holdings for $11.2 million, says Roe Elam of South Carolina-based W2T.
W2T already is invested in the flourishing part of downtown with the revamp of the old Southside YMCA Building nearby off East Main. W2T bought that building in late 2018 for $2.75 million. Late this year, the 91-year-old landmark at 1517 Mitchell Ave. is to open into a social club called Common House Chattanooga.
W2T and affiliate Walk2Campus have redone a number of structures near the University of Tennessee at Chattanooga and turned those into housing since 2012.
Elam said the three-story, 60,000-square-foot Craftworks Building is fully leased.
The former Hub Furniture Store at 631 Broad St.
Purchase price: $4.2 million
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 St.
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.
Berry & 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, says 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.
The parking lot at 201 Power Alley
Purchase price: $1.5 million
A company affiliated with the owner of downtown Chattanooga's Residence Inn has bought the parking lot behind the hotel with an eye on a future project.
The buyer, which is associated with McKibbon Hospitality, paid $1.5 million for the lot to seller River City Co. Amy Donahue, the downtown nonprofit redevelopment group's director marketing and communications, says the property is located at 201 Power Alley between the rear of the Residence Inn and AT&T Field.
Donahue says McKibbon is participating in the current visioning plan for the waterfront area called One Riverfront Chattanooga, and the company wants to see what comes out of that effort.
While there probably will be parking in some form on the property, the hospitality company could do a lot of different things with the site, she says.