Hixson Plaza is an 83,000 sf freestanding neighborhood center located in the retail-intensive northern-Chattanooga submarket of Hixson. Magnolia was attracted to the asset’s substantial in-place cash flow and proximity to the newly renovated Northgate Mall, which is one of two major shopping destinations in Chattanooga. The center is supported by a credit-rated out-parcel tenant which provides cash flow stability, effectively hedging the improvement strategy’s risks. Hixson Plaza was purchased in May of 2018.