Metro Purchases Former Hickory Hollow Mall In Antioch For $44M
5252 Hickory Hollow Parkway
$44,000,000
Building Size
—
Asset Type
Retail
Closing
Jun 20, 2024
AI
The former Hickory Hollow Mall, now known as Global Mall at the Crossings, situated at 5252 Hickory Hollow Parkway in Antioch, Tennessee, was acquired by Metro for $44 million. The 57-acre retail property was transformed into a mixed-use center featuring residential, retail, cultural, and recreational amenities. The development includes three distinct subdistricts: Arts Village, Innovation Village, and Opportunity Village, with facilities like a transit center, housing, retail spaces, offices, and arts spaces.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $44,000,000
- Market: Antioch, Tennessee
- Acres: 57
- Buyer: Metro
Metro's acquisition of the former Hickory Hollow Mall signifies a strategic move to revitalize the area into a regional hub. The planned mixed-use development aims to attract a diverse array of community-focused tenants to the transformed site, aligning with Metro's vision for creating vibrant and inclusive spaces within the three subdistricts of the property.
Players
Antioch Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93