While We Were Out
URBAN RENEWAL
A Look at What’s Happening Elsewhere Warehouse Row breathes new life into Chattanooga. By: Justin Beck, CCIM, CPM
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or those of us who are passionate about urban renewal and development, what’s happening in downtown Pensacola is downright exhilarating. And as a confirmed real estate junkie, I’m always on the lookout for new and exciting developments wherever I go. What do I look for? Mixed-use is a great place to start. Even better if it’s a redevelopment of an old building. Better still if there’s a buzz and energy created in the neighborhood, the feeling materialized when a new development provides a sense of arrival or place. On a recent family road trip to the Smokey Mountains, I found such a place: Warehouse Row in Chattanooga, Tennessee. Purchased by Jamestown LP in 2006 (and recently acquired by The Simpson Organization), this 330,000 SF development represents one of the finest examples of urban redevelopment I’ve seen in the Southeast. Some of its highlights include: • • • •
Historic masonry, stone, and post and beam construction 330,000 SF of space 10’ – 15’ ceilings Onsite building maintenance and management
• • •
24 hour security and controlled access systems 426 garage parking spaces Destination shopping and dining
The property was originally the site of the Old Stone Fort during the Civil War, later transformed into a warehouse district at the turn of the century. It was redeveloped as a mixed-used development in the 1980s, but it wasn’t until Jamestown LP purchased the property in 2006 that it was really transformed. In January 2016, Atlanta-based property owner and management group The Simpson Organization purchased historic Warehouse Row, along with a nearby site where they plan to build a structure with 125 apartments, offices and ground-floor retail. Today, Warehouse Row is home to a great selection of retailers and restaurants including Anthropologie, Lululemon, J. Crew, Tupelo Honey Café, Public House and my personal favorite: Onward Reserve. The property is home to a wide variety of office users, as well. Chattanooga is a thriving city and Warehouse Row is a great example of how urban redevelopment can reignite a neighborhood. My heart skips a beat when I see an example like this, the product of investing in the heart of old cities for the sake of revitalization.
Photo courtesy of The Simpson Organization
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