Investment Highlights

Interior Value-Add Opportunity: New ownership will have the opportunity to add value to the property by updating the interiors, such as new LVT flooring, granite countertops, stainless steel appliances or painted cabinets.

Value-Add Through Amenities Upgrade: Cross Creek Villas provides the potential to enhance the existing amenities package or add additional amenities, such as:

  • Upgrade the clubhouse and fitness center
  • Upgrade pool deck with new furniture
  • Enhance dog park

Well Maintained Asset: Current ownership has done an excellent job maintaining the exterior and curb appeal of the asset.

$822 Million Volkswagen Investment: In November 2019, Volkswagen broke ground on an $800 million electric vehicle plant, which is expected to create 1,000 jobs. The 762,000 SF addition is expected to be completed by early 2022. Volkswagen recently broke ground on an additional $22 million battery engineering lab adjacent to the production plant.

Additional Economic Activity: McKee Foods announced a $500 million expansion that will create 480 new jobs. Southern Champion Tray also announced an $84.9 million expansion that will create 120 new jobs.

Convenient Access to Major Shopping Malls: Cross Creek Villas is conveniently located within 10 minutes of Chattanooga’s premier retail destinations, Northgate Mall and Hamilton Place Mall, combining for nearly 2,000,000 SF and over 260 stores.

Diverse Employment Base: Chattanooga is home to over 15 companies across the Healthcare, Education, Energy, Automobile, Consumer Products, and Manufacturing industries that employ at least 1,000 people. Notable and international brands include:

  • Erlanger Health System - 7,013 jobs
  • BlueCross BlueShield of Tennessee - 5,548 jobs
  • Volkswagen - 2,564 jobs
  • Amazon - 2,186 jobs
  • Coca-Cola - 618 jobs
     

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