Erlanger Sells Chattanooga Lifestyle Center On Market Street, Ooltewah Office Building

Wednesday, June 11, 2014

The Erlanger Health System Board,, at a special called meeting Tuesday night,, approved the sale of the Chattanooga Lifestyle Center at 325 Market St. and Erlanger's office building on Apison Pike.

Both facilities are being sold to the Noon Development LLC investment group.

The Lifestyle Center, which at one time was the old Newton Chevrolet, is being sold for $4.8 million.

The Ooltewah building, which had been identified as a non-performing asset, is under contract to sell for $625,000, with an additional $518,000 from the state.

Officials said, "Earlier this year, Erlanger President and CEO Kevin Spiegel announced several cost-cutting and strategic initiatives that would enable the health system to operate more efficiently and effectively.  Included in those plans was the sale of several non-performing assets."

CFO Britt Tabor told trustees that the Ooltewah building had been identified as a non-performing asset and presented an opportunity to convert the building to cash as a reinvestment to the health system.

The objective in putting the Chattanooga Lifestyle Center on the market was to eliminate the debt associated with the building, and forego operating expenses associated with its ongoing maintenance, it was stated.

Mr. Tabor said this transaction will eliminate the negative cash flow associated with the building, and result in a savings of more than $100,000 a month.







Spencer, Tn., Man Charged With Criminal Homicide In Stabbing Death

A joint investigation by Special Agents with the Tennessee Bureau of Investigation and several other law enforcement agencies has resulted in the early morning arrest of a Spencer, Tn., man charged with criminal homicide.   At the request of 31 st District Attorney General Lisa Zavogiannis, TBI Special Agents joined investigators with the District Attorney’s office ... (click for more)

Nashville Man Charged With Trying To Hire Someone To Kill His Wife

An investigation by special agents with the Tennessee Bureau of Investigation has resulted in the arrest of a Davidson County man, who is charged with trying to get someone to kill his wife.  At the request of 20th District Attorney General Glenn Funk, TBI special agents began investigating Gary Alan Montgomery on May 2, after receiving information that Montgomery was looking ... (click for more)

The History Of Avondale Recreation Center

I grew up in Avondale from third grade until I was married and two children. East Chattanooga had a center since before I was born. The only time I was gone was when I, along with six buddies, joined the USMC.   The families in Avondale, a working class neighborhood, wanted a community center closer to home so the Avondale Civic League took on the task. They raised the money ... (click for more)

Roy Exum: Bad Ideas Never Work

When the Chattanooga City Council gave Kevin Muhammad, who is purportedly the “leader” of the Nation of Islam’s “Chattanooga chapter” or whatever it is, “the right” to speak for 20 anguished minutes on Monday night, everybody who heard about it could have told our city leaders it was “stinkin’ thinkin’.” My goodness, did you think he was going to read a sweet passage from the ... (click for more)

Mustangs Clip Raiders, 4-3, On Chambers' Clutch RBI Hit In 10th

CLEVELAND, Tenn. – Winning two regular season games against Cleveland was no picnic for the Walker Valley Mustangs. Capturing a win-or-go-home District 5-3A tournament showdown with the Blue Raiders was even tougher to nail down for coach Joe Shamblin’s squad. Bunts by Jacob McCall and Hunter Shamblin set the stage for Jacob Chambers’ walk-off RBI single in the 10 th ... (click for more)

East Ridge And CFCA Reach New Contract

The city of East Ridge and the Chattanooga Futbol Club Academy (CFCA) have agreed to a new five-year soccer field-use agreement for five fields at Camp Jordan Park. The agreement allows CFCA to practice at Camp Jordan Park and play games there on fields 1-5. The East Ridge Futbol Club (ERFC) plays recreation soccer on fields 6-8 and often works with CFCA to use field 5 on Saturday ... (click for more)