NAI Charter and NAI Knoxville Partner in Sale of Stalled Retail Project in Pigeon Forge

David F. DeVaney, SIOR, CCIM, and President of NAI Charter is pleased to announce the completed sale of Belle Island in Pigeon Forge, Tennessee. The transaction was brokered with Trey Miller and Brian Tapp of NAI Knoxville.

Belle Island is a retail development that sits on 21.5 acres and was sold for $10,750,000. The Seller of the banked-owned property was Regions Bank and the purchaser was Leconte Properties. Belle Island is approximately 70% complete and is slated for 90 specialty retail shops, a range of restaurants and entertainment venues. Pigeon Forge is known for its entertainment and attractions which include, Dollywood, Wonder Works, Dixie Stampede and outlet malls.

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NAI Charter is Chattanooga’s leading commercial and industrial real estate service provider. In 2010, the company completed over $34 million in commercial and industrial transactions. The 39-year old company has a staff of 7 full-time brokers, 4 holding the SIOR designation, 4 holding the CCIM designation and 1 holding the MAI designation.

NAI Charter is a member of NAI Global. NAI has members in over 300 cities and 40 countries giving NAI Charter the ability to service client’s real estate needs anywhere in the world by providing local knowledge with international reach. NAI Global has an annual commercial and industrial transaction volume of $40 billion dollars and is the world’s largest managed real estate network.