5579-5591 Highway 153
Hixson, TN 37343

SRS Investment Properties Group, as exclusive broker, is pleased to offer Towne Center North - a 213,107± SF community center shadow-anchored by Target and anchored by Best Buy, Bed Bath & Beyond and PetSmart - located in Chattanooga, Tennessee. In addition to the quality, included anchor tenancy at the Property, Towne Center North is shadow-anchored by Target, further augmenting the consumer pull at the Center. Incorporating its market fresh grocery section, the Target at Towne Center North provides a crucial regional draw, which offers a necessity-based shopping component, making it one of the most coveted anchors in the world for successful shop leasing activity. The Center is bolstered by a solid base of national anchors, including Best Buy, Bed Bath & Beyond and PetSmart, which comprise roughly 88% of a GLA consisting of 95% overall national retailers. There has been notable recent leasing momentum at Towne Center North. Ten year renewals with Bed Bath & Beyond and PetSmart in 2016 and 2017, respectively, have cemented the anchors’ long-term commitments to the Property, enabling buyer ability to secure more attractive financing given an aggregate anchor lease term of 5.5 years. Additionally, national service tenant – Sola Salon Studio – is set to commence in March (2020), occupying 4,640± SF through 2031. Though not a part of the offering, the Property benefits from an array of national outparcels, including Longhorn Steakhouse, Olive Garden, Ruby Tuesday and Comtrust Federal Credit Union – all of which add to the customer-friendly shopping atmosphere at the Center. Originally built in 2006, Towne Center North has been extremely well-maintained and managed, with attractive facades and retail aesthetics which enable ongoing tenant success. Location Towne Center North is located roughly 10 miles north of Downtown Chattanooga within the Chattanooga, TN-GA MSA – home to a population of 560,000. Situated in Marion County, along the banks of the Tennessee River, Chattanooga is easily accessible via Interstate 24, which runs northwest through Nashville before connecting with I-57 in southern Illinois. Strategically located with proximity to northwest Georgia, northeast Alabama and southern Tennessee, Chattanooga continues its path of rapid growth as one of the Southeast’s best cities in which to live, work and play. Conveniently located a short drive away, Hixson benefits from easy access to Chattanooga’s metropolitan amenities, including a bourgeoning restaurant scene, phenomenal outdoor and recreational activities and a thriving, diversified economy. Home to installations for Amazon, BlueCross BlueShield, DuPont, Komatsu, and Rock-Tenn among others, Chattanooga has experienced a major cultural and economic resurgence over the last 10 years. In May 2011, Volkswagen opened its $1 billion manufacturing facility on the east side of the city, which serves as its North American headquarters and first U.S. location since 1988. Chattanooga also boasts a healthy tourism industry supported by the Tennessee Aquarium, Ruby Falls, the Tennessee Riverwalk, Rock City and a plethora of year-round festivals. Additionally, the city is home to notable universities like UT-Chattanooga, which is the 2nd largest campus in the UT school system and has an enrollment of over 11,500 students.