Based on its $11 million hard construction cost, the price equates to $180 per sf, more than most class A buildings in larger metropolitan areas. About 10% of the rent roll will be high-end retail, Atrium president David Jacobs tells GlobeSt.com.
"It's primarily because of the location," Jacobs says. "People in that area are used to medical and retail." David Jacobs, president, Atrium, tells GlobeSt.com. Tenants could be retail or upscale restaurant operators. Rents will be in the mid-$20 range. Ground-breaking is tentatively set for summer.
Jacobs' company has built two other buildings totaling 110,000 sf and fully leased in its Atrium Memorial Medical Complex at Gunbarrel and Jarnigan Roads, Chattanooga.
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