Chattanooga Industrial Lot 1
The Opportunity: Home to Volkswagen’s primary North American production facility, Chattanooga, Tennessee has experienced very limited new industrial development over the past 20 years despite healthy growth. The limited supply of modern options makes it challenging for the area to support the growth and expansion of existing businesses, and to attract new business from outside the region. Recognizing this, Tenby Partners and its local JV partner, White Oak Enterprises, spent two (2) years working with City and County officials to identify potential locations for ground-up or re-development opportunities.
The Results: Three (3) challenging but undeveloped tracts in the shadow of Volkswagen’s massive plant were ultimately identified and put in contract. Shortly thereafter, an international Tier-1 automobile supplier expressed an interest in calling one of the sites ‘home’ to its North American operations. To achieve aggressive delivery deadlines, all parties worked tirelessly to break ground on and begin development of the brand new, 301,000 square foot Build-To-Suit facility. Beginning in the summer of 2021, the Tenant will use the facility to deliver mission-critical assemblies for Volkswagen’s first all-new, all-electric vehicle in North America. The project is proved to be a true partnership between Tenby Partners and White Oak Enterprises, and both Chattanooga City and County officials - with the shared goal of delivering a world-class facility for a new international employer, creating hundreds of new jobs.