95 acres (+/-) with approx. 98,652 SF Fully Furnished Office Building.

Office for Sale
Catylist Listing ID: 30745096
Property Subtypes: Business Park, Governmental, High-Tech, Institutional, Medical, Mixed Use, Office Building, Research & Development, Other
Building Size (RSF): 98,652 SF
Gross Building Area: 98,562 SF
Gross Land Area: 95 Acres
Sale Price: $1
Unit Price: $0 PSF
Property Use Type: Vacant/Owner-User
Building Name: 7555 Goodwin Road
Class of Space: Class A
Sale Terms: Cash to Seller
Auction Type: Undisclosed Reserve
Cap Rate: Undisclosed
LEED Certified: Yes
Last Updated: 7/23/2021

Overview / Comments

CBRE and Pointe Commercial Real Estate have been retained as the exclusive advisers for the fee interest sale of lands owned by Cigna Corporate through Connecticut General Life Insurance Company (“Owner”, “Cigna”) located at 7555 Goodwin Ave Chattanooga, TN (the “Property” or the “Site”). This is a unique opportunity to acquire one of the best positioned properties in the Chattanooga Tennessee real estate market. The freestanding building is fully furnished, modern and up to date comprising +/- 98,652 SF siting on approximately 95 acres of densely forested land in the heart of the East Brainerd / Hamilton Place Mall area of Chattanooga. The Owner is listing the property “AS IS” and to be vacated sale of this prime Chattanooga headquarters location.

This property offers a location that is unmatched with its proximity to many amenities including shopping, restaurants, residential neighborhoods, schools, Interstate I-75 and the Chattanooga Airport just to name a few. Accessed from both Goodwin Road and Commons Boulevard the property sits directly across the street from East Brainerd Elementary. The building is separated into three (3) equal sections (“Pods”) with separate entrances and restrooms. The building was remodeled in 2019 & 2020 and is in excellent "Plug & Play" condition and is ready for immediate occupancy with approx. 836 Workstations currently in place, 26 private offices, 10 conference rooms, 700 Parking spaces (7/1 ratio), 6 Training Rooms, an Employee Cafeteria equipped with a full kitchen, walk in cooler, and seating for approx. 200. There is also a fully equipped Employee Health and Fitness Center and a private walking trail that circles the property. Additional features include an Energy Star rating, up to date Interior and Exterior LED Lighting, TPO White Membrane Roof with approx. 5 years remaining on the warranty and a 900KW Cummings Generator that backs up the entire Building. The HVAC system has been well maintained on a quarterly preventative maintenance cycle and consist of approx. 41 roof top Carrier Brand Gas Package Units controlled with a Honeywell Building Management System. The building is fully fire sprinklered and has a monitored fire alarm system and is equipped with a Key Card Access control system throughout.
Notwithstanding the above, approximately 65 of the 95 acres is undeveloped and offers a tremendous opportunity for the potential future development of either Single Family Residential Homes, with the current zoning, and/or Multi-Family Residential Homes with possible rezoning.

Seller has requested Listing Agent not to publish a List Price. Offers from prospective Buyers should include the following:
• Purchase Price
• Timing of Inspection / Due Diligence Period
• Timing of Closing period
• Amount of earnest money, including the amount that is non-refundable
• Proof and source of funds for the acquisition
• Financial strength of the purchaser

Call Listing Agent (Russ Elliott) to schedule appointments to tour the property. Listing information is provided by owner and public sources and is deemed reliable but not guaranteed. Listing agent has not measured the building / land and does not guarantee the accuracy of the number of square feet or acreage.

Additional Details

Nearest MSA: Chattanooga
County: Hamilton
Taxing Authority: Hamilton County
Tax ID/APN: 033149I B 00118
Zoning: O-1
Property Located Between: Gunbarrel Road and Jenkins Road
Property Visibility: Good
Highway Access: I-75
Airports: Chattanooga Airport
Site Description: Approx. 95 acres (+/-) with approx. 98,652 SF Fully Furnished Office Building ("Plug & Play"). Approx. 65 of the 95 acres is undeveloped and offers a tremendous opportunity for the potential future development of either Single Family Residential Homes, with the current zoning, and/or Multi-Family Residential Homes with possible rezoning.. Property is accessed from both Goodwin Road and Commons Blvd. and sits directly across the street from East Brainerd Elementary in the Heart of the Hamilton Place / East Brainerd Community.
Area Description: Goodwin Road Near Hamilton Place Mall across from East Brainerd Elementary.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1990
Year Renovated: 2020
Roof Type: Flat
Construction/Siding: Concrete, Other
Exterior Description: Exterior of the Building is Concrete with Glass.
Parking Ratio: 7.1 (per 1000 SF)
Parking Type: Surface
Parking Description: Approx. 700 Surface Parking spaces (7/1 ratio) surrounding the building.
Total Parking Spaces: 700
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System, Package Unit
Internet Access: Gigabit, Fiber Optic
Interior Description: 98,652 SF (+/-) Building remodeled in 2019 & 2020 and is in Excellent "Plug & Play" condition. Building is ready for immediate occupancy with Approx. 836 Workstations currently in place, 26 private offices, 10 conference rooms, 700 Parking spaces (7/1 ratio), 6 Training Rooms, Energy Star Rated, LED Interior and Exterior Lighting, Building has an Employee Cafeteria with a full kitchen, equipped with a walk in cooler and seating for approx. 200. HVAC system consist of approx. 41 roof top Carrier Brand Gas Package Units controlled with a Honeywell Building Management System. 13 of the 41 HVAC units have recently replaced with the remaining units of a 2008/2009 vintage maintain on quarterly preventive maintenance cycle. Building is fully fire sprinklered and has a monitored fire alarm system. Electrical Service is a 2100 amp 480 Volt main service with a 900KW Cummings Generator that backs up the entire building. Building is equipped with a Card Key Access System throughout. Property has a Private walking trail, Employee Fitness Center and Health Clinic and Electrical Vehicle Charging stations. Building is divided into three (3) equal sections (Pods) with separate entrances and restroom facilities.
Zoning Description: O-1
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,174 51,187 111,700
Median Age: 40.98 40.45 39.48
Households: 2,481 21,381 45,340

Contact

Photograph of Listing Agent

Russell P Elliott

Pointe Commercial Real Estate Greater Chattanooga REALTORS® Member
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