Lee Hwy & Hwy 153 – Sale
In July of 2005 Hawkins Companies tackled another large remodel project by purchasing a worn out center on the corner of Lee Highway and Highway 153 in Chattanooga, Tennessee. Originally a Home Depot turned indoor swap meet; the purchase also included the adjacent strip mall that was 70% vacant. In five months, Hawkins Companies completed a successful remodel of the Home Depot and a major face-lift on the shops and site work. This high exposure corner is now home to a beautiful 64,124 square foot Sportsman’s Warehouse and over 93,000 square feet of junior anchor and shop space.
• Asking Price – $18,728,000
• Cap Rate – 7.75%
• GLA – 156,945 SF
• Anchors – Sportsman’s Warehouse, Pin Strikes, & Planet Fitness
• Parking – 635 Spaces (4.05/1,000 SF)