Coro Realty Acquires Historic Signal Mill in the Heart of the NorthShore
Chattanooga, Tenn. (Jan. 13, 2020) — Coro Realty has acquired a 44,764 square foot renovated textile mill on 2.98 acres in the highly desirable NorthShore of Chattanooga, Tenn. The sale was brokered by Hayes Swann, Joe Montgomery and Tony D’Ambrosio of Colliers International.
Signal Mill dates back to 1916 and is on the National Register of Historic Places. The large two-story brick building at 205 Manufacturers Road was originally used for making clothing for more than seven decades before closing in 1986.
Developers renovated the mill in 2017, adding significant upgrades while leaving the historic exterior intact. With retail and dining occupying the first floor and office space on the second, Signal Mill is once again the center of the NorthShore’s renaissance.
“Signal Mill is a well-executed historic renovation project in the heart of Chattanooga’s most walkable neighborhood, the NorthShore. It has a strong tenant mix, excellent restaurants and shops and showcases the city’s manufacturing history,” said Robert Fransen, President of Coro Realty. “We are thrilled to close on this acquisition, which continues the product and geographic diversification of our portfolio.”
Located across the street from the 23-acre Renaissance Park, Signal Mill is within walking distance of the historic Walnut Street Pedestrian Bridge, which connects the NorthShore to the popular Tennessee Aquarium and downtown Chattanooga.
Covenant Transport (NASDAQ: CVTI), a publicly-traded trucking and logistics company, occupies a full floor of Signal Mill. Dining destination Food Works and premier gift shop Genevieve Bond Gifts are among the retail tenants, which also include Edley’s Bar-B-Que, Mean Mug Coffee and Pigtails & Crewcuts.
Signal Mill is along Manufacturers Road, near the corner of Cherokee Boulevard, with high-visibility and optimal exposure. It is located next to a Whole Foods-anchored shopping center, the only Whole Foods in Chattanooga. The property also has convenient access to three of Chattanooga’s most travelled interstates: I-24, I-59 and I-75.
About Coro Realty
Coro Realty was founded in 1997 and is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape and innovation, Coro Realty continues to demonstrate its leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing and property management for a myriad of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of a billion dollars. For more information, visit cororealty.com.
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Thornton Kennedy
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thornton@prsouth.net
