Two nearby Red Bank retail centers have sold for a combined $9.4 million.
Red Bank Mayor John Roberts called it "the largest transactions in the history of Red Bank."
The Red Bank Town Center at 3901 Dayton Blvd., that includes a Food City, sold for $7,750,000.
The sale was to White Realty & Service Corp from Red Bank Ii Llc.
A commercial center that includes Fire House Subs at 3849 Dayton Blvd. went for $1,683,000.
The sale was to Oep Chattanooga Llc from Red Bank Ii Llc.
Mayor Roberts said Red Bank is becoming increasingly attractive to both businesses and families.
He said he is aware of another multi-million-dollar commercial deal that may be just down the road.
The mayor said he attributes the resurgence "to the hard work we've done for the past six years." He said that includes building up the city's infrastructure and beautifying the city.
He said many of those looking for homes are turning from high-priced North Chattanooga and finding more reasonable accommodations in Red Bank.
The Red Bank Town Center, which was initially anchored by a Bi-Lo Food Store, is a former school site.