Equitas Management Group, a full-service real estate development company, has purchased One Park Place. The 57,000-square-foot building is located at 6148 Lee Highway, Chattanooga, Tenn.
Equitas and EMJ Construction will move into the building, along with existing tenants. EMJ Construction will renovate the building, which should be complete by the end of the year.
“We are excited about the purchase of our first building in Chattanooga,” said Reggie Vachon, Executive Vice President of Equitas. “One Park Place is in a great location, with well-established tenants, and offers a wide variety of important services and products to the community.”
EMJ Construction, who originally built the building in 1984, will immediately begin performing renovation work in preparation for a targeted move in date of early 2023. Terms of the purchase were not released.
“Chattanooga is where it all started for us, with this building being the second office space we occupied,” said Jack Bowen, President and CEO of EMJ Corporation. “We take a great deal of pride in constructing some of the Scenic City’s most iconic buildings and are pleased to return home.”
Founded in 1968, EMJ is a commercial general contractor with national reach and local presence. EMJ has diverse experience in many sectors, thousands of partnerships across the country, and numerous repeat customers. For more information, visit www.emjcorp.com.
About Equitas Management Group:Equitas is a part of the EMJ Corporation family of companies—a corporation with an extensive network of partners nationwide, regionally-designated teams, and offices in Dallas, Chattanooga, El Paso, and Charlotte. Equitas has developed many single-tenant projects over the past six years with more than $150 million in total project costs. For more information, visit www.equitasmg.com.