Southeast real estate development group Urban Story Ventures announced the sale of its single level office buildings, totaling nearly 280,000 square feet, at Midtown Office Park. The sale to Greenleaf Capital was finalized this month.
“Despite the pandemic, JP Evans and our leasing team have leased over 110,000 square feet of office space throughout the Midtown Office Park in the last year, and we’re near capacity,” said Jimmy White, general partner and president of Urban Story Ventures.
“This deal was really a win-win. It fit Greenleaf’s model well and allows us to continue doing what we do best — focusing on adding value to projects through development and revitalization,” said White.
Urban Story Ventures will continue providing property management, maintenance, leasing, landscaping, and billing services for the multi-level buildings they own at the Midtown Office Park, including Osborne, Franklin, and Uptain. These commercial spaces are home to a variety of businesses and organizations in industries including transportation and logistics, government, financial, insurance, legal, medical, and other professional services.
The commercial developer continues to make strides at the Bend, a 112-acre development that will significantly revitalize the area between Riverfront Parkway and the Tennessee River in downtown Chattanooga. With most of its commercial properties at full capacity, the owners are focused on new developments throughout the Southeast.
Greenleaf is based in Georgia and has a portfolio of commercial office space, multifamily communities, and retail properties. The firm, which is known for identifying well-located Southeast properties, continues to have a focus on the Chattanooga market.