A retail center in Chattanooga, Tennessee owned by Ziff Properties Inc. of Mount Pleasant, South Carolina, will be redeveloped as a self-storage facilities business.
Mountain Creek Shopping Center was anchored by a Food Lion grocery store. The new self-storage development will be handled by Ziff in partnership with Reliant Self Storage. The new facilities will offer climate or non-climate controlled units (718 units in all), as well as outdoor boat and recreational vehicle storage. a two-story office space and an on-site managers' unit.
The transaction was overseen by Tom Cofer of Rivercity Realty, who represented the seller, and Rudy Walldorf of Herman Walldorf Commercial Inc., who represented the buyer.
“We see heavy potential for this property and look forward to seeing our extensive redevelopment plans come to life," Ziff Properties’ COO and director of acquisitions Christian Chamblee, said. "We are excited to provide a first-class storage facility for the Chattanooga community.”
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