NAI Charter Sells 817 Broad Street to Southern Community Bank

Arnold Farmer, CCIM, SIOR, Vice President of NAI Charter brokered the sale of the four-story office building located at 817 Broad Street in downtown Chattanooga to Southern Community Bank. The seller was 817 Partnership who was represented by Mr. Farmer and the sale price was $925,000. Robert Stahl is the Senior-Vice President for the Southern Community Bank Chattanooga office.

NAI Charter was retained by Southern Community Bank to lease the remaining three floors of the building to potential office users. The space would be an ideal location for a law firm, CPA firm, or any other professional office user at very competitive full-service rental rates. Also, a basement floor is available for climate controlled storage.

Southern Community Bank first opened its doors in 2005 as The Bank of Tullahoma; its founders were committed to the idea of creating a bank that was unlike all the rest. They wanted a friendly bank with simple, convenient products—a place where people could expect to be treated very well. In 2011, they changed their name to Southern Community Bank.

About NAI Charter

Founded in 1972, NAI Charter is Chattanooga’s premier commercial and industrial real estate service provider with a staff of 7 full time brokers with 4 holding the SIOR designation, 4 holding the CCIM designation and 1 holding the MAI designation. NAI Charter also offers a full-service property management division, Charter Management Company.

Charter Management Company currently manages 15 commercial properties totaling over 800,000 SF. The Charter Management team specializes in streamlining property operations through contractor/vendor discounts, fixed cost reduction and tenant satisfaction and retention. 

About NAI Global

NAI Charter is a member of NAI Global which is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full-range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain consulting and related advisory services. Founded in 1978, today NAI Global member firms span the US and 54 other countries, with 400 offices and more than 5,000 local market experts on the ground, completing $55 billion of transactions annually.

NAI Global was acquired in 2012 by C-III Capital Partners, a commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management.