CHATTANOOGA, TN-The Tennessee Valley Authority has recently bought back an office complex which it had sold for $158 million in 1986. The TVA acquired the complex for an amount of $22 million.
The TVA had sold the building to a Chicago-based real estate group, which leased the space for 25 years to TVA to make enough money. The purchase amount of TVA was less than half of its annual rent payment, the Chattanooga Times Free Press reports. For the full story, go to Nashville Business Journal.
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