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.







PHOTOS: Funeral Of Luther Masingill

For video by Ben Cagle click here , here and here . (click for more)

Barbara Sue Perdue Greer Charged With Coercion Of A Witness

Barbara Sue Perdue Greer has been arrested for coercion of a witness. Members of the Bradley County Sheriff’s Department’s Criminal Investigation Division filed the charge and took Ms. Greer, 40, of Cohulla Road, Southeast, into custody.  Reports indicate Ms. Greer is a defendant in a pending case, and her actions toward a witness in that case led to the charge.  ... (click for more)

Tom Dugan Was A Good Man

Tom was my boss for most of my 36 years at Carta.  At the ceremony where I was awarded my 30-year service award, Tom said, "Don disagrees with 85% of my decisions, but I wish I had 80 more employees just like him." This kind of indicates our relationship. When I asked him to help with my plans for a reunion for the group of Veterans that I served with in Vietnam, he quickly ... (click for more)

Roy Exum: A Veterinarian’s Horse Sense

I suspect you’ve heard by now that a doctor in New York City, who volunteers with “Doctors Without Borders,” just got back from the African nation of Guinea on October 17 – last Friday – and on Thursday tested positive for the deadly Ebola virus. Luckily, he came in actual contact with only a few people but he reportedly rode a subway, took a taxi, went on a three-mile run and ... (click for more)

Freeman-Led Owls Whip Cleveland, 30-14, To Win 5-AAA Title

Junior Rashun Freeman's stunning versatility stole the show Friday night. Freeman caught a touchdown pass, returned a punt for a second score and had one of three Ooltewah interceptions as the fourth-ranked Owls whipped Cleveland, 30-14, to win the District 5-AAA championship in front of a near-capacity crowd at James N. Monroe Stadium. “I practice hard and that shows ... (click for more)

Daoust Dashes For 251 Yards As Rhea Defeats East Hamilton, 42-14

Zach Daoust gained 251 yards and scored one of Rhea County’s six rushing touchdowns and the Golden Eagles pulled away with a strong fourth quarter to defeat East Hamilton’s Hurricanes, 42-14, in a non-district football game at East Hamilton High. The Hurricanes fell to 2-7 overall while losing for the fifth time in six games. East Hamilton concludes its season at Bradley Central ... (click for more)