Aslan, a Chattanooga-based real estate holding company, announces the sale of 714 Cherry Street to Tinker Ma, which will relocate to the building this fall.
Tinker Ma, an architecture, interiors and planning firm, has recently been joined by the experienced design team of Artech Design Group, and the purchase will allow the firm to work as a unified team from a single location.
“We are thrilled to make another investment in downtown Chattanooga, just down from our current location on Cherry Street, where we have been located for years,” said Thomas Palmer, principal, AIA, NCARB.
“The history of this building, the sustainability features, green roof and proximity to our current location make this the obvious choice for a new headquarters for us.”
The new office space at 714 Cherry Street also reflects Tinker Ma’s roots in Chattanooga, as firm principals Craig Peavy and Jessica Stack practiced architecture in the building earlier in their careers.
The building was sold by Aslan and was part of the company’s first investment fund. The 11,750-square-foot building was purchased by Tinker Ma for $2.48 million.
“Tinker Ma’s well-known commitment to environmental design and sustainable building makes them the perfect buyer,” said Matt McGauley, managing partner of Aslan. “Finalizing this sale allows us to further invest in new projects across the southeast, as well as here in Chattanooga.”
SVN | Second Story represented Aslan in the sale and used a collaborative broker approach to ensure a successful transaction. Reshma Patel, Chandler Hale and Baker Townsend worked together on the closing of the historic downtown Chattanooga office space.
Along with the portfolio of operating companies, Aslan has extensive commercial real estate holdings, of which 714 Cherry Street was one, and has recently begun deploying capital across a number of development projects in Chattanooga, Memphis and Knoxville, as part of the launch of Aslan Fund II. Aslan expects its current fund to create more than $150 million in new development in the coming years.
“This move is an excellent opportunity for Tinker Ma to continue putting down deep roots in Chattanooga, in a way that speaks to our passion for sustainability,” said Trey Wheeler, principal, FAIA, NCARB. “Our team continues to grow, as we now have 31 employees. Owning our office reflects our commitment to continued growth and success.”