Offering Package. Sales Price: $11,400,000. Class A Office Opportunity in Downtown Chattanooga.

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1 Offering Package Class A Office Opportunity in Downtown Chattanooga Sales Price: $11,400,

2 Table of Contents I. Confidentiality and Disclaimer 3 II. Property Description 4-5 III. Interior Photos 6-7 IV. Floor Plans 8-19 V. Contact Information 20 VI. Appendix 21 2

3 I. Confidentiality Memorandum and Disclaimer Jones Lang LaSalle Americas, Inc. and NAI Charter ( Agent ) have been engaged as the exclusive agents for the sale of the Properties in this offering by BlueCross BlueShield of Tennessee ( Seller ). The Properties are being offered for sale in an as-is, where-is condition and Seller and Agent make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely for the purpose and review by prospective purchasers of the interest described herein. Your acceptance of this memorandum is an indication of your agreement to hold the contents of this memorandum in the strictest confidence and that you will not disclose information contained herein, in whole or in part, to any other parties without the prior written authorization from the Owner or Agent. Each recipient, as a prerequisite to receiving the enclosed, should be registered with Agent as a Registered Potential Investor. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the confidentiality agreement furnished by Agent prior to delivery of this Offering Memorandum. The enclosed materials are being provided solely to facilitate the prospective investor s own due diligence for which it shall be fully and solely responsible. The material contained herein is based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by partners and directors, as to the accuracy or completeness of the information contained here. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Agent nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein or any other written or oral communication or information transmitted or make available or any action taken or decision made by the recipient with respect to the properties. Interested parties are to make their own investigations, projections and conclusions without reliance upon the material contained herein. Seller reserves the right, at its sole and absolute discretion, to withdraw the Properties from being marketed for sale at any time and for any reason. Seller and Agent each expressly reserve the right, at their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Properties and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, correction of errors, change of price or other terms, prior sale or withdrawl from the market without notice. Agent is not authorized to make any representations or agreements on behalf of the Seller. Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigation and/or making an offer to purchase the Properties unless and until a binding written agreement for the purchase of the Properties has been fully executed, delivered, and approved by owner and any conditions to owner s obligations thereunder have been satisfied or waived. By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their consents are of a highly confidential nature and will be held and treated in the strictest confidence and shall be returned to Agent or Seller promptly upon request; and (b) the recipient shall not contact employees or tenants of the Properties directly or indirectly regarding any aspect of the enclosed materials or the properties without the prior written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of Seller or Agent or as otherwise provided in the Confidentiality and/or Registration Agreement executed and delivered by the recipient s to Jones Lang LaSalle or NAI Charter. 3

4 II. Property Description 801 Pine Street 801 Pine Street was designed by the famed Atlanta architect, John Portman, and built by J.A. Jones Construction Company. The subject property is a free standing, 10-story, Class A office building containing approximately 177,020 rentable square feet and is located in the downtown central business district of Chattanooga, Tennessee. The structure was originally constructed in 1970 as the home office for BlueCross BlueShield of Tennessee. At that time, a significant portion of the building was leased to other tenants. However, over time the owner occupied all of the space for its own needs. While the building is less multi-tenant in nature than when originally constructed, the interior can be converted back to multi-tenant occupancy. The subject structure is in excellent condition and is considered by most as the premier signature office building in downtown Chattanooga. Total land area is approximately 2.75 acres and is bound on the east by Pine Street, the south by MLK Boulevard and the west by US 27. This neighborhood is easily accessible to Interstate 24 and all parts of downtown Chattanooga. Surrounding properties consist of office and other downtown related businesses. The property has an approximate frontage on Pine Street of 537 feet and on MLK of 200 feet. Zoning for this tract will permit commercial or office use. All utilities are available. 4

5 II. Property Description The building layout is approximately 65% open office and 35% private office. Executive suites and boardrooms are on the 9 th floor; kitchen, full cafeteria, conference rooms and a large meeting room that comfortably accommodates 85 people are on the 10 th floor; data centers on the 4 th and 5 th floors; and customer presentation center on the 2 nd floor. Basement levels house maintenance, double-bay loading dock and two levels of covered parking containing 317 parking spaces. Four passenger elevators serve the lobby through 10 th floors, and one elevator serves the lobby and both levels of parking garage. The structure is cast-in-place and the skin of the building is of double pane gold glass curtain wall. 801 Pine Street is heated by electric boiler and cooled by a ton and ton centrifugal chiller. The roof is 3 layer modified bitumen, was replaced in 2004, and has a 30-year warranty. The parking ratio of the building is 1.74:1,000 with plenty of parking available in nearby parking garages such as City Park, Market Court, Trailways Garage and IBM. 5

6 III. Interior Photos 6

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20 V. Contact Information For more information on this property, please contact one of the following exclusive representatives: Shan Gastineau Senior Vice President Jones Lang LaSalle 3344 Peachtree Road NE Suite 1900 Atlanta, GA office: mobile: Paul Hanna Vice President Jones Lang LaSalle 3344 Peachtree Road NE Suite 1900 Atlanta, GA office: mobile: David DeVaney, SIOR, CCIM President NAI Charter Real Estate Corp. 414 Vine Street Chattanooga, TN office:

21 V. Appendix Web Links Use these websites for additional research Chattanooga Area Chamber of Commerce: Chattanooga Area Convention & Visitors Bureau: RiverCity Company: BlueCross BlueShield of Tennessee: The University of Tennessee Chattanooga: Tennessee Aquarium: City of Chattanooga: Hamilton County: 21