Just Closed: Honest Airport Industrial

LA JOLLA, CA, September 5, 2024 – Legacy West Partners is proud to announce the acquisition of an approximately 66,000 square foot multi-tenant industrial warehouse in Chattanooga, TN. This strategic purchase marks another significant milestone for Legacy West Partners as we surpass 750,000 square feet in the Southeastern U.S., underscoring our commitment to identifying and capitalizing on high-potential real estate industrial opportunities.

The property is located off of U.S. Route 64, directly bordering the Chattanooga Metropolitan Airport (CHA), and is less than 8 miles from Downtown Chattanooga. The Chattanooga Airport recently unveiled $28M in terminal renovations and is continuing to expand with new training facilities and airplane hangars directly adjacent to the property.

With an established tenant base of short-term below-market leases, this property has upside through re-tenancy with Third Party Logistically focused tenants strategically aligned with the growing needs of the Chattanooga airport. Additionally, the property sits on over 5 Acres, allowing for further income growth by converting existing underutilized land to Industrial Outdoor Storage (IOS) space. Excess land is scarce surrounding the airport district with the needs of the airport ever growing.

This off-market acquisition highlights our partners’ extensive market knowledge and expertise which enable us to consistently identify similar exceptional mark-to-market opportunities. Contact us for more information about this acquisition and to be considered for future opportunities. To stay informed about new opportunities as they arise, we invite you to join our Investor Network.