Wallace Real Estate held a ribbon cutting at its new Downtown Knoxville office on January 22, 2024, marking an exciting chapter in the company’s storied history. The event, hosted in collaboration with the Knoxville Chamber, celebrated Wallace’s return to the heart of Knoxville at 625 S Gay Street #205, a second-story office with a vintage view of the iconic Journal Arcade building.
The opening of this office brings the company’s history full circle. The Journal Arcade building housed the original Wallace & Wallace Real Estate office when it was established in 1936 by James A. Wallace and his son, Charles Wallace. The younger James Wallace Jr. joined the firm after his service in World War II, helping to guide the company through decades of growth as neighborhoods like Island Home, North Hills and Sequoyah Hills emerged.
Wallace Real Estate’s influence on Knoxville’s development extends beyond real estate sales. James A. Wallace Sr. was instrumental in banking and community initiatives, contributing to projects such as Fort Sanders Manor, the historic YMCA building and Holston Hills Country Club. These efforts helped shape Knoxville’s landscape long before suburban development led the company to expand westward in the mid-20th century. By 1965, Wallace & Wallace had moved to the Valley Fidelity Bank building, leaving the Journal Arcade and embracing Knoxville’s growth into suburban areas like West Hills.
Jennifer Montgomery
Under the leadership of Principal Broker Jennifer Montgomery, the new Downtown Knoxville office is poised to honor this legacy while embracing the future. Montgomery’s Local Lore initiative is known for highlighting East Tennessee’s unique history and culture, aligning perfectly with the office’s location and mission. Montgomery’s professional experience includes a master’s degree in urban and regional planning, office management and more than two decades of real estate sales.
“Downtown Knoxville has transformed into a vibrant hub of culture, commerce and community,” Montgomery said. “We’re thrilled to reconnect with our roots and serve this dynamic area with the same dedication that’s defined Wallace Real Estate for nearly 90 years.”
The downtown office aims to serve both residential and commercial clients, further cementing Wallace Real Estate’s commitment to the region it has proudly called home since 1936. Stop by and see the new space — and be a part of the next chapter in Wallace’s history.
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