Ken Defoor Properties
Dr. Samuel Banks said buying the condos ensures the sites are already zoned and ready to be built. “We could buy just what we needed to fit our building and our parking,” he said. “We did not have to buy extra land or put in sewage and waste water disposal. The site was ready and available, and we certainly thought the location was dynamite. “Anything that is on the intersection of Shallowford and Highway 153 is very centrally located to Hixson, Brainerd and is an easy thing to find,” Dr. Banks said. “It’s very, very accessible.”
Barbara Tawater, owner of Northgate Title Escrow, agreed with Mr. DeFoor when he said, “You can own your own space cheaper than leasing.” Ms. Tawater bought a 4,000 square-foot office condo at the Corporate Image at Northgate. Before she moved there in November, she leased a smaller office at Northgate Commercial Center.
The company moved because the new space was larger and presented no maintenance problems because it’s new, she said. The 10 person staff handles real estate closings and title work. Since closings usually are handled there, the office’s appearance is crucial, she said.
The Northgate office center is maintained by a condominium association.
“You own the building and pay association dues every month,” Ms. Tawater said. “It’s very much lower compared to rent. You’d like your money going somewhere. Right now real estate is a good place to put your money.
Dr. Andy Lunn, a Chattanooga dentist, is buying about 2,500 square feet at the Gunbarrel location. “Interest rates are still low. The lease option was higher than an outright purchase. The property values can only increase in that area,” Dr. Lunn said.
This allows us to own property; it’s a long-term investment,” said Rob Pippinger, financial adviser with American Express Financial Planner. “We looked at a couple of places on Gunbarrel Road. I checked on an out parcel and the price was $519,000 an acre,” Mr. Pippinger said. “This option is more affordable and we still have a good location.
Sandy Jolly, Pioneer Title Vice President, said her company thinks the concept is a good one because the Shallowford Commons area is attractive for business. “Everyone wants in the area” she said.
Pain medicine specialist Dr. Roger Catlin said he is taking 7,200 square feet for his private office and is involved with the acquisition of more than 10,000 square feet for physical therapy and a surgery center. Dr. Catlin said he likes the accessibility of the office complex and its proximity to hospitals. Currently in office space near Erlanger, he said the medical community is growing in the Northgate area.
