In an off-market deal, Hight Knox Properties bought two industrial buildings in Chattanooga, Tennessee, from JDK Real Estate for $18.7 million, earning it a 2024 CoStar Impact Award for sale/acquisition of the year, as judged by real estate professionals familiar with the market.
The two Class C buildings comprise 876,400 square feet and sit on 30.7 acres.
At the time of the sale, the property was 100% leased to a global heating, ventilation and air conditioning, security and automation technologies company.
About the Deal: Hight Knox Properties bought the two industrial buildings at 600 Wauhatchie Pike and 650 Wauhatchie Pike for $18.7 million. It financed the deal through a $13.47 million loan through Synovus Bank. NAI/Charter David DeVaney and Chad Wamack of NAI Charter represented Hight Knox. Rise Partners' John Tugman and Wilson McGinness represented JDK Real Estate, the seller.
They Made it Happen: David DeVaney, president of NAI Charter; Chad Wamack, broker at NAI Charter; Wilson McGinness, vice president of brokerage services at Rise Partners; John Tugman, vice president of brokerage services and principal at Rise Partners.