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.







Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: BOTTS, KAITLIN RENEE  148 HOLLYBERRY LN CHATTANOOGA, 37406  Age at Arrest: 31 years old Arresting Agency: Chattanooga PUBLIC INTOXICATION DISORDERLY CONDUCT --- BOZEMAN, CRYSTAL WHITNEY  4509 KIRKLAND AVENUE CHATTANOOGA, 37410  Age at Arrest: 29 years old Arresting Agency: Hamilton ... (click for more)

kunesh Calls For City Racial Disparity Study

City Council District 8 candidate tom kunesh said the "selection of the local all-white Hefferlin & Kronenberg Architects firm by the city of Chattanooga to design and lead neighborhood input into a new $6 million Avondale Recreation Center for Avondale's 99 percent black population should make any race-conscious person wonder what the city’s contractor selection process is, ... (click for more)

Rhonda Thurman: Speaking The Truth About CSLA - And Response

One parent called me a “Liar” during Thursday’s Facilities meeting. Others from CSLA have been a bit more creative saying that I spread “misinformation”, “falsehoods” and “spread inaccurate statements”. Then there were more descriptive terms- “arrogant”, “uninformed”, “unprofessional”- if these CSLA parents don’t stop, they are going to hurt my feelings. In this letter, I will attempt ... (click for more)

Roy Exum: Illegals Cost Us Billions

We learned over the weekend that John Kelly, our new Secretary of Homeland Security, has just prepared two strongly-worded memos that could greatly enhance federal authorities to detain and/or deport illegal immigrants both inside the United States and those caught at our borders. All rational United States citizens know we have a horrible problem with illegals – in 2010 the annual ... (click for more)

Bradley Runs Away With Another AAA State Crown

FRANKLIN, Tenn. – Bradley’s Ben Smith may be one of the most excitable wrestling coaches on earth, especially when his Bears are in the middle of a tough tournament. Such was the case here at the Williamson County Agricultural Exposition Center this weekend as the Bears successfully defending their traditional title at the TSSAA State Meet as they finished the three-day event ... (click for more)

Father Ryan Wins Fourth Straight D-II Mat Title

FRANKLIN, Tenn. – The Father Ryan wrestling team can now honestly boast “four-peat” when anyone asked about the most recent Division II state wrestling tournament. The Purple Irish won the state duals two weeks ago and they added another traditional title here at the Williamson County Agricultural Exposition Center Saturday night. Saturday’s victory is the 21 st overall for ... (click for more)