1504 N Thorton Ave

Dalton, GA
The asset was acquired in October of 2022 in an off-market acquisition. The asset is located around the corner from the  Hamilton Medical Center.


  • Off-market acquisition of Surplus Corporate Real Estate.
  • Unsophisticated ownership results in significant upside imbedded in the existing rent roll.
  • Extended and expanded anchor tenant (Tennessee Oncology) for fifteen percent of the building before closing resulting in an increase in NOI of almost 25% and much more favorable debt terms.
  • Fully leased to medical tenants.
  • Located in the Chattanooga, TN submarket close to the headquarters of Chestnut Funds, SIP’s equity partner.
Building Size

64,860 sf

Acquisition Source


Equity Partner


Acquisition Price

$8.1 M


$0.5 M

Total Project Costs

$8.6 M

Projected Exit


Dalton, MOB Conversion