NAI CHARTER Sells Bank Owned Property to Chattanooga Spine Center

Jeff Jennings, CCIM of NAI Charter announces the sale of 8705 East Brainerd Road from Capital Bank to Chattanooga Spine Center, PLLC. The 6,000sf building sold for $295,000. The property is located near the new East Brainerd Publix.

The property, which had been on the market with numerous real estate firms for the past 5 years, was under contract within 30 days and sold within 80 days of Capital Bank hiring Jeff Jennings, CCIM and NAI Charter. The former restaurant was repositioned as a medical office building. The bank received competing offers. Regions provided the financing and Title Guaranty & Trust handled the closing.

NAI Charter Real Estate Corporation is Chattanooga’s leading commercial and industrial real estate service provider. In 2011 the company completed over $47 million in commercial and industrial transactions. The 40-year old company has a staff of 7 full time brokers, 4 of them holding the SIOR designation and 4 holding the CCIM designation.

NAI Charter is a member of NAI Global. NAI has members in over 350 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.