NAI Charter Sells a Premier Downtown Site

Chad and Parker Wamack of NAI Charter announce the sale of 102 Walnut Street. The Buyer, Chattanooga based Vision Hospitality Group plans to start construction on a five-story, 90-room upscale boutique hotel. The site is located on the south side of the Walnut Street walking bridge directly across from the Hunter Art Museum. The boutique hotel will be a nice compliment to the newly constructed Walnut Commons apartment complex and the Museum Bluffs condominiums. The hotel will include a twostory parking garage on site. Plans are to open for operation in 2016.

"Our vision is to develop a high-end hotel that will become a destination," said Mitch Patel, Vision Hospitality's chief executive. "By providing an experience that focuses on all of the senses and provides the highest standards of service, we believe our hotel can become a destination that will be an asset to the entire community."

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, 5 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 14 commercial properties totaling over 549,000 SF. The Charter Management team specializes in streamlining property operations through contractor/vendor discounts, fixed cost reduction and tenant satisfaction and retention.