Stores could be returning to Hickory Hollow Mall before the year's end.
Mark Nobles of Brentwood-based Global Mall Partnership confirmed the purchase of the mall off Interstate 24 in Antioch for $1 million. The partnership includes Murfreesboro's Dr. Rajesh Aggarwal.
The sale excludes the anchor store spaces of the mall.
Global Mall plans to reinvigorate the space with new stores, dining and cultural diversity.
Nobles said the purchase of the mall was a "great deal in a great area."
Stores could fill the empty storefronts as early as Christmas.
In June, the mall's previous owner, Chattanooga-based CBL & Associates Properties, Inc., terminated the leases of all remaining tenants.
Efe Owen, owner of Kana Shoes, told Nashville's News 2 his store's lease was among those terminated.
Owen however said he is excited about the possibility of a mall returning to Antioch.
"We need a mall in this area; Antioch is growing and has been growing for the past 10 years," he said.
Olive Gordon, owner of Soccer Plus, also had her store lease terminated at Hickory Hollow Mall.
"It would be a good thing, it would be exciting to have a lot of people coming into Antioch again," said Gordon.
Gordon and Owen said they hope to re-open their stores in the Hickory Hollow Mall.
Metro Councilwoman Jacobia Dowell told Nashville's News 2, "I am optimistic about the purchase. It is great to have local owners who are actively seeking to breathe new life into the property. I am somewhat cautious. We all see the trend in the country with retail and indoor shopping malls. I think we are all aware that in order for the property to be successful, we need to have the right use. Going back to business as usual is not a recipe for success in the space. It will not work."
Metro-Nashville's plans for portions of the mall included a community center, soccer fields and green space.
A satellite location for Nashville State Community College was also scheduled to open.
Nobles said the purchase of the mall does not affect previous announced plans for Metro Nashville to redevelop some parts of the mall.
Thursday, August 28 2014 3:28 PM EDT2014-08-28 19:28:07 GMT
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