LOCAL FIRMS PARTNER ON PURCHASE OF THE ATRIUM MEDICAL COMPLEX
/
CHATTANOOGA, Tenn. – (March 13, 2017) Noon Development and Pointe Property Group, both Chattanooga-based real estate development firms, have partnered on the purchase and management of The Atrium, a pair of medical office buildings located on Gunbarrel Road in East Brainerd.
CHI Memorial, which has a long-standing presence in The Atrium with Pediatric Diagnostic Associates, the CHI Memorial Regional Sleep Center, CHI Health at Home and Memorial Health Services, will expand its offerings into new space to include Memorial Convenient Care, The Chattanooga Heart Institute and CHI Memorial Internal Medicine Associates office of David Castrilli, M.D.
“Chattanooga is an ideal city in which to live, work and raise a family, as thousands of people discover each year. As our community attracts new residents, it is essential as the region’s preferred provider of adult medical care to create convenient access to our physicians and ancillary services,” said Larry Schumacher, CEO, CHI Memorial and senior vice president, operations, Southeast Division. “This project will enhance access for residents living and working in southeast Chattanooga.”
The partnership team of Noon Development and Pointe Property Group plans to make a significant investment in remodeling the facilities to provide state-of-the-art medical spaces for current and future tenants. Planned upgrades include a complete exterior facelift, parking lot overhaul, interior lobby renovation and signage and landscaping updates.
“We are honored that Memorial is anchoring this development with their outstanding medical services, and we are pleased to partner with Noon Development to update this property,” said Ryan Allen, vice president of property development for Pointe Property Group. “The commercial space at The Atrium is in a prime location for physicians and medical service providers in the Hamilton Place area, a market where it is increasingly difficult to find development space.”
Allen noted that primary care and family practitioners, as well as specialty practices seeking space in the East Brainerd area, would be ideal tenants in the renovated medical office buildings.
Bob Elliott, president of Noon Development, said the team will focus on using local and regional companies to execute the vision. “Working with local architects and contractors, we are already designing the remodeled spaces to meet the needs of current and future tenants. Our team will be on the ground every day ensuring a seamless process for current tenants and the highest quality product for future clients.”
The Atrium is located at 1949 Gunbarrel Rd. near Hamilton Place Mall. The complex features two buildings offering more than 105,000 total square feet to medical tenants including Southeast Eye Specialists and DiStefano Skin Solutions.
There are 29,000 square feet of space still available for lease, with up to 15,000 square feet of contiguous space and a variety of customization options for prospective tenants.
"We know from experience that commercial tenants in Chattanooga are looking for local ownership and management, and we are so pleased to offer this state-of-the-art space under the direction of our local team,” said Russell Elliott, SIOR, CCIM of Pointe Commercial Real Estate, leasing agent for The Atrium. Interested parties should contact Russ Elliott at 423.755.0846. Learn more about leasing at www.AtriumChattanooga.com.
About Noon Development
Noon Development is a private development firm in Chattanooga, Tennessee. The company specializes in various real estate initiatives, including acquisitions and development of commercial office, retail, medical and residential projects across the greater southeast United States.
About Pointe Property Group
Pointe Property Group is a full-service property development firm, committed to the development of class “A” office, retail, and industrial properties. For over two decades, we have served our customers across the southeast region with manufacturing facilities, executive office space, construction services, and property maintenance. Visit www.pointecentre.com for more information.