The challenge
There is no more historic masterpiece of Americana than the Chattanooga Choo Choo. From its storied dome entrance and hotel train cars to its fame as the music industry’s first “Gold Record” song, the Chattanooga Choo Choo has been an iconic destination for millions of travelers and the true heartbeat of Chattanooga. When the nearly 30-year ownership group decided to sell the historic property, the challenge was how to maximize investment value selling a historic urban property without the benefit of national credit tenants and on-site parking during the pandemic business distractions and uncertainty.
The solution
Sim Wilson appealed to the ownership group to position the property as a “once in a lifetime” opportunity to purchase a piece of history itself, exploring the broad appeal of purchasing not only the bricks and mortar but the significant “Chattanooga Choo Choo” brand. Launching the sales campaign in 2020, the sales approach resonated with buyers across the US and abroad receiving significant interest from institutional and private equity investment firms. After multiple offers, the Chattanooga Choo Choo closed in August of 2021 at a highly favorable price to a “new to market” investor and lives on to continue making history.