6125 Preservation Dr, Chattanooga, TN 37416

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Benjamin P.

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Building Details:

• Year Built: 1991

6125 Preservation Dr is an industrial property for lease in Chattanooga, TN.

This is a rare, multi-faceted opportunity to own a large multi-use, property in Bonny Oaks Office and Industrial Park. This 8-acre parcel with a 22,390 SF office building and 14,000 SF warehouse offers opportunities as an investment property, or for the right owner to occupy all or part, leasing the remainder. The site offers the opportunity to carve off 2.5 to 3.5 Acres without compromising the land needed by the warehouse or the office.

The property was developed in 1991 as the headquarters for Chattanooga Gas. The current owners bought the property in 2001 to lease to a related party as a corporate facility. Currently, Mueller leases the second floor of the office building and the entire warehouse. Other first floor tenants include the Hamilton County Air Pollution Control Board, the Hamilton County Trustee, and a sales office for TE Connectivity Networks.

The office has excellent curb appeal with several large, mature trees, and an attractive entry befitting the corporate headquarters it was designed to be. Its masonry construction and large windows make for an attractive building, inside and out. The large foyer/reception area and reception desk was designed to welcome visitors while securing access to the hallways. There is a nice kitchen and dining area connected to a conference room, all near the entrance to the building, easily accessible to visitors. There are 145 "employee" parking spaces beside the office building, and 22 "visitor" parking spaces in front of the building.

The warehouse includes 10,900 SF on the ground with a 3,100 SF mezzanine, and features a 140' x 20' covered loading dock with an 8' x10' door and an additional 8' x 10' door on grade. Clear height is 18' for most of the building and there is a crane.

A fence encloses the warehouse and 4 of the 8 acres along with 72 parking spaces, 60 of which include propane fueling devices (currently not used). The parking lot inside the fence is mostly asphalt, but the docks include a concrete pad approximately 55' wide. The fence also encloses a concrete pad, about 0.6 acres, with 5 concrete storage bins, each approximately 12' x 25'. Power is 480v, 3-phase at 1600amps. The warehouse includes a crane.

Because the property was the headquarters for a utility company, it was equipped with redundant electric power generators, one propane and one diesel, ensuring maximum operating ability, even in the face of a disaster.

The warehouse and the office have neoprene roof, both replaced about 2009. This is great opportunity to acquire based on a fairly conservative pro forma, and create some real value, especially with the excess land that could be sold off or further developed. Volkswagen's expansion makes this an excellent site for a Tier 2 Provider as a tenant or owner.

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