Sunday, July 30, 2017 12:47 AM


A restaurant site near Hamilton Place mall sold recently for $2.3 million as the shopping center continues as the Chattanooga region's top retail hub. "It still has a lot of retail strength," said Chattanooga real estate broker Rudy Walldorf of Herman Walldorf Commercial about the mall area, noting the restaurant location sold after only about three weeks on the market. He said the Kanpai of Tokyo site, which opened in 1991, was purchased by a development group that will operate it as a Japanese steak house. He said the name will change to Hana Steak & Sushi. Charles Lebovitz, chairman of shopping center developer CBL & Associates Properties Inc., said such valuations of property around the mall is a reflection of demand. "Along Gunbarrel Road, there is limited available real estate, and there's a tremendous amount of demand," he said. "We've got retailers contacting us daily looking for space in the Hamilton Place area." Lebovitz quipped that "We'd like to stretch out Hamilton Place wider." The eatery's location is in the Hamilton Crossing shopping center and backs up against the mall's parking lot. Walldorf said that when new retail clients come to the city, they ask about the Hamilton Place ...

News source: Times Free Press

See also: Grace Frank Group