Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/231459
O N T H E G R O U N D : S ava N N a H , G a . Chains are expanding beyond the city's familiar retail areas Savannah is something of an Estate/NAI. "So over the past few anomaly in terms of retail traffic. The years, when new retailers such as port city, founded in 1733, has a Kohl's, H.H. Gregg, Dick's Sporting population of just 139,500 (350,000 Goods and Whole Foods opened — in the three-county metro). Tourism, or will open — their first Savannah at some 12 million visitors per year, stores, it was in this area." helps support a thriving downtown. After going south in Savannah, Topographical limitations have con- chains now have the additional op- fined modern expansion mainly to tion of going west. "Restaurants and the south, along a single traffic corri- retailers that have tested the south dor, Abercorn Street. Shopping malls Savannah market and it worked out and other major retail centers fol- well, expand," said Smith. Mattress lowed the road. "We have an untradi- Firm, PetSmart and T.J.Maxx all expanded from the south side to the tional retail market where we have a west side, Smith says, and Firehouse central corridor that is a north-south lanta-based Ben Carter Enterprises has road, an eight-lane thoroughfare with proposed a 560,000-square-foot Outlet Subs, Five Guys Burgers and Fries and retail along the way," said Ashley Smith, Mall of Georgia, also near the Pooler Jersey Mike's Subs are all on their second a principal at Colliers International. "Most Parkway. If all this development bears or third locations on the west side after of Savannah shops along this road." out, that will create a third retailing area starting south. That may change, as single-family development has pushed northwest to- for the metro. "When national retailers are looking at The one market moving to its own rhythm is the downtown. "Banana Re- ward the suburban community of Pooler Savannah, they'll say they want be in the public and the Gap were already there and the intersection of some major Abercorn corridor, because that's where and renewed their leases in 10-year highways, including I-95 and I-16. This all the nationals are," said Rex Benton, a deals," said Benton. Also downtown are has created opportunities for new retail- principal of Savannah Commercial Real Urban Outfitters and the Blick art-sup- ers and allowed the older ply store. And downtown ones to open second and will be getting Savannah's third stores. first Anthropologie. The first of the new All this should help a developments is Pooler relatively tepid retail mar- Marketplace, which ket. The city's vacancy rate opened in 2010 on the has been flat for the past northwest corner of the two quarters at 9.4 percent, Pooler Parkway–Benton while rents average $14.74, Boulevard intersection. per square foot, according GBT Realty Corp., out to CoStar. But Benton says of Brentwood, Tenn., that River Street, in the began construction of heart of the tourist district, the 143,000-square-foot is seeing rents as high as Village on Pooler Park- $40 per square foot, and way this year, which will in the new suburbs around have Michaels, PetSmart, Pooler, in-line stores will Ross Dress for Less and experience even steeper T.J.Maxx as anchors. At- abercorn street is the city's main retail drag. rents. J AN UA RY — Steve Bergsman 20 14 / SCT 49