SVN Second Story Team Helps Client Transition Long-term Lease to Sale

Initially, commercial real estate brokers Brian Chadwick and Baker Townsend teamed up to lease 6228 Perimeter Drive in Chattanooga, Tennessee but ended up bringing in a buyer and negotiating a successful sale. This property is a unique mix of office and industrial, including a large studio and showroom, as well as drive-in access to the industrial space.

Earl Story, the property owner, initially planned to lease the available space after the long-time tenant downsized.

“It was a good property, with the same tenant for more than 20 years,” Story stated. “Brian and Baker – those guys are Johnny on the spot – you know what I mean? They were advertising the space, showing it, quick to follow up, really taking care of everything. I hadn’t really considered selling, but when a company made an offer, the SVN team negotiated the numbers and showed me the opportunity. They helped us all come to an agreement.”  

“We were pleased with the property for many years, but when the option presented itself, it was time for a change. I’m retired now, and this was the right decision and the SVN team made it easy,” Story added.

The property sold for $2.5 million and was on the market for less than 100 days.  

“One of the things we’re able to do as advisors is look at a property from a different perspective and really see an opportunity that’s outside of the real estate listing,” said Townsend. “Adding value to a client by bringing a new deal to the table, that’s a good day of work.”

“This was a fast-moving sale that could have been successful in a lot of different ways,” added Chadwick. “Having this deal come together so well for Earl was the kind of success we strive to achieve for every client.”