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- The Knoxville Chamber is selling nearly 20,000 square feet of office space on Market Square.
- The economic development group has been exploring the move since last year and has many “strategic reasons” to relocate.
- This is the first time the property has been available since it was renovated, said Roger Moore, an agent on the listing.
The Knoxville Chamber has listed its Market Square office for sale, the economic development organization announced March 17.
The 19,775-square-foot office is for sale for $7.5 million, according to the listing. Located at 17 Market Square, the space was renovated in 1989 and “offers exceptional potential for the astute office building investor,” the listing said. The second-floor office sits above the Knoxville Entrepreneur Center.
The chamber has kept its office in Market Square since 2004, property records show. The chamber was founded in 1869, according to its sign in Market Square.
The centrally-located office has served as an event venue for the chamber’s business members and a home base for its 26 staff members, led by President and CEO Mike Odom. The chamber did not say where it planned to move its office, but it has been exploring a possible move for a year.
“A year ago, a task force made of board members was assembled to evaluate our physical location. That task force has recommended we sell the building we are currently located in if a new desirable location can be found. There are a number of strategic reasons why it makes sense for us to relocate,” Amanda O’Dell, vice president of investor development and experience, told Knox News in an email.
The chamber played a role in creating more than 2,000 jobs and attracting more than $400 million in capital investments to the region in the last few years, according to its 2023-2024 annual report.
The organization also manages projects aimed at boosting the Knoxville economy, such as the 2030 Protocol, a strategy to retain young college graduates with computing jobs. It publishes monthly economic indicator reports “to help our regional business community make more-informed decisions,” according to its website.
Market Square office could go fast, agent says
The listing comes after Market Square was named No. 3 on USA TODAY’s Best Public Squares list last year, part of the 10Best Readers’ Choice Awards. The square, dating back to 1854, also helped Knoxville rise to be recognized by CNN as one of its inaugural “America’s Best Towns to Visit” last year.
It has become home mostly to retail, restaurants and condos. Several possible buyers have expressed interest in the newly available office space, said one of the agents on the listing.
“We’ve already had a pretty good bit of interest, so I’m hopeful that it will happen fairly quickly,” Roger Moore, president of NAI Koella | RM Moore, told Knox News.
The Knoxville-based and woman-owned commercial real estate firm manages 3.5 million square feet of property in East Tennessee. Its latest Market Square listing was formerly condos, and it includes a first-floor entryway and staircase.
The office space has never been available for sale in its renovated condition, with modern amenities but antique character, Moore said.
Daniel Dassow is a growth and development reporter focused on technology and energy. Email: [email protected]. Signal: @danieldassow.24.
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