When Lincoln Electric was looking at different potential locations, Chattanooga-based commercial real estate agency Urban Story Ventures recruited the manufacturer of welding equipment and accessories to the Bend, earning it a 2024 CoStar Impact Award for lease of the year, as judged by real estate professionals familiar with the market.
The Bend is a 120-acre mixed-use development on the riverfront in downtown Chattanooga. The industrial side of the development fit Lincoln Electric's needs, especially when taking into account the facilities and in-house maintenance services.
Lincoln Electric has leased more than 88,600 square feet of industrial space, bringing in 75 new jobs to the Bend.
About the Deal: Urban Story Ventures has leased 88,674 square feet of its mixed-use development in Chattanooga known as the Bend to Lincoln Electric for a three-year term. Lincoln Electric is a publicly traded company that focuses on manufacturing welding equipment and accessories. It operates in 71 manufacturing locations in 20 countries, and it serves customers in over 160 countries.
What the Judges Said: "Lincoln Electric was looking at going to another market and taking those 75 jobs to Georgia. We were able to recruit them to the 'the Bend' development. They have expansion plans to grow in the future," said J.P. Evans, director of leasing at Urban Story Ventures.
They Made it Happen: Jimmy White, president at Urban Story Ventures; Brad Shumpert, executive vice president of Urban Story Ventures; Mary Martha McDaniel, property manager at Urban Story Ventures; J.P. Evans, director of leasing at Urban Story Ventures; and Bryan Rudisill, vice president at NAI Charter.