Hickory Ridge Mall
Memphis, TN

The property, an 856,000 sq.ft. regional mall, is anchored by two (2) regionally dominant department stores, Goldsmith-Macy's and Sears. The property was acquired in April 2003 from a subsidiary of Wells Fargo Bank. At the time of its acquisition, due to fast changing demographics and declining sales, the vacancy rate was more than 30%. CDG's redevelopment plan includes an aggressive leasing and marketing program to re-merchandise the mall with retailers more suitable for the new demographics, and position of the mall as the family retail destination of the region. There is also significant opportunity to utilize a recently vacated department store in the repositioning. Hickory Ridge Mall was divested in October 2008.