Chattanooga Manufacturing Facility Positioned to Attract Global Tenant

04 Dec, 2019

CBRE to market 416,149-sq.-ft. facility for lease Chattanooga, TN CBRE has been assigned the leasing of West End Manufacturing, a 416,149-sq.-ft. LEED Gold certified manufacturing facility located at 1029 West 19th Street, along the Tennessee River in Chattannooga, TN.

After a leading power generation user sold and vacated the property in 2018, the state-of-the-art facility with clear heights of up to 87 ft. across four bays is now uniquely positioned to attract a global company looking to expand in a strategic Southeast U.S. location.

CBRE’s Sim A. Wilson and Aaryn Wilson are marketing the property for lease on behalf of the landlord, West End Property II, LLC.

“The extremely high replacement cost to replicate a facility of this quality creates a one-of-a-kind opportunity for a high-capacity manufacturing company,” said Sim A. Wilson, senior vice president at CBRE. “The property was redeveloped in 2009 and remains in pristine condition. It is a truly unique leasing opportunity that we expect will receive strong interest from regional, national, and global companies alike.”

In addition to the four fully air-conditioned high bays, the facility features a privately-owned 40 megawatt substation, 14 interior bridge cranes with capacities from 100 to 509  tons and an exterior barge loading river dock with 509-ton crane capacity. Rail runs adjacent to the facility through a Norfolk Southern spur. A 16,840-sq.-ft. LEED Gold certified office building as well as a 5,000-sq.-ft. warehouse adjacent to the barge loading crane at the riverdock are also included in the property campus.

“World premier manufacturers – including Komatsu, Sanofi, and Volkswagen – chose Chattanooga as a proven location. This unique facility will become a competitive advantage for the global company seeking to grow in the North American marketplace,” said Charles Wood, Vice President of Economic Development, Chattanooga Area Chamber of Commerce.

Chattanooga is strategically located in the Southeast corner of Tennessee, 135 miles southeast of Nashville, 120 miles to the Southwest of Knoxville, and 120 miles northwest of Atlanta, at the junction of four Interstate highways. The city spans 143.2 sq. mi. with a metro area population of more than 530,000.

Chattanooga, dubbed “The Gig City” thanks to its city-wide gigabit internet service, has primed this state-of-the-art facility for the demands of a diverse range of industries in competitive markets.

New companies coming in will join a growing cohort of other global concerns that call the Chattanooga Region home, including Volkswagen, Komatsu, Sanofi and Nokian Tires.

Located on a prime piece of land on Chattanooga’s westside, just minutes away from the Gig City’s revitalized downtown district, the facility features 87-foot ceilings, a privately-owned 40-megawatt substation, 14 interior bridge cranes, an exterior barge-loading river dock and a 5,000-square-foot warehouse. Showcasing Chattanooga’s prime natural environment, the facility sits along the Tennessee River.

Chattanooga has also become a thriving hub for tech companies in recent years. Thanks to the city-wide gigabit network that was installed in 2010, and later expanded to a 10-gigabit service in 2015, the Tennessee city has the fastest internet in the country, with speeds 200 times faster than the national average.

In addition to access to some of the world’s fastest internet speeds, global manufacturing companies in Chattanooga benefit from:

• Chattanooga’s strategic location in the heart of the Southeast provides companies with top access to the U.S. marketplace with a large existing pool of manufacturing talent. Immediate access to 1-75, I-24 and I-59 combined with 70+ local common carriers make it easy to reach major population hubs within a short drive, including Atlanta, Nashville, New Orleans and Indianapolis. In addition to interstate options, Chattanooga has access to rail service, connections to 16,000 miles of navigable waterways via the Tennessee River and service by 4 major airlines with direct flights to major hubs including Detroit, Atlanta, D.C., Chicago and New York City. Residents of the area are already highly qualified for the demands of the manufacturing industry. At 13%, manufacturing is tied for the second most popular employment sector in the city, while transportation makes up another 6% of jobs. 
  

• Chattanooga is cheaper and more profitable than other manufacturing locations.  Chattanooga is located within a foreign trade zone, which can help eliminate the costs of international trade and boost global competitiveness. The city and its surrounding area also incorporate a host of business friendly taxes, including no state tax on finished goods inventory. Due to a lower cost of living, manufacturing employment costs in Chattanooga are 17% below the national average, saving companies in the region from the high operating costs of locations on the coasts.

• Chattanooga’s high quality of life helps attract and retain today’s top talent. Chattanooga has shown steady growth in population, growing 5.1% since 2010. This growth can be accredited to the city’s high quality of life paired with its low cost of living.  Chattanooga is the only city to ever win Outside Magazine’s Best Towns contest twice due to its proximity to beautiful outdoor scenery and adventures. The cost of living is 3% lower than national average, allowing residents to enjoy and save their money in comparison to other cities.

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