REBusinessOnline

Palomar Group Arranges $1.8M Sale of Starbucks-Occupied Building Near Chattanooga

The property is situated as an outparcel to a Food City-anchored shopping center at the intersection of Signal Mountain and Mountain Creek roads, four miles northwest of downtown Chattanooga, Tenn.

SIGNAL MOUNTAIN, TENN. — The Palomar Group has arranged the $1.8 million sale of a 2,100-square-foot retail building in Signal Mountain leased to Starbucks. The property is situated as an outparcel to a Food City-anchored shopping center at the intersection of Signal Mountain and Mountain Creek roads, four miles northwest of downtown Chattanooga. Starbucks has 10 years remaining on the double-net lease, which includes four five-year extension options. The Palomar Group represented the seller, an undisclosed private investor based in New York, in the transaction. Chris Schellin of Westwood Net Lease Advisors represented the buyer, an undisclosed real estate developer based in Charleston, S.C.

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