Hickory Grove Shopping Center sells for $10.4M

By TIM SINIARD
Posted 6/16/18

Hickory Grove Shopping Center, a foreclosed commercial real estate property in Cleveland, was sold at auction Friday at the Bradley County courthouse.

The property was sold for $10,455,000 and was acquired by LB-UBS 2007-C6 Paul Huff Parkway, LLC., registered at 1601 Washington Avenue, Suite 700, Miami Beach, Fla.

Bank of America was listed as a creditor on the legal documents.

Hickory Grove Shopping Center is a retail shopping center consisting of two parcels located on 229-255 Paul Huff Parkway featuring major retailers such as TJ Maxx, Lowe’s Home Centers, Goodwill and Petco. The property was owned by Hickory Grove, LLC. The shopping center was built in 1999.

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Hickory Grove Shopping Center sells for $10.4M

Posted

Hickory Grove Shopping Center, a foreclosed commercial property in Cleveland, was sold at auction Friday at the Bradley County Courthouse.
The retail property was sold for $10,455,000, and was acquired by LB-UBS 2007-C6 Paul Huff Parkway, LLC., registered at 1601 Washington Avenue, Suite 700, Miami Beach, Fla.

Bank of America was listed as a creditor on the legal documents.

Hickory Grove Shopping Center is a retail shopping center consisting of two parcels located on 229-255 Paul Huff Parkway featuring major retailers such as TJ Maxx, Lowe’s Home Centers, Goodwill and Petco. The property was owned by Hickory Grove, LLC. The shopping center was built in 1999.

One other entity at the auction declined to bid after the acquiring company made its offer.

Although the property has been acquired by a new landlord, the current tenants should not be affected due to special leasing terms that allow tenants to remain at the property, despite foreclosure proceedings.

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