Savannah Mall – September 2022

Description

Newmark has been exclusively retained to market to qualified investors the opportunity to acquire Savannah Mall (the “Property” or “Mall”), a super-regional mall located in Savannah, Georgia. The Mall consists of approximately 922,748 square feet of gross leasable area (469,038 SF,owned), situated on 76.4 acres (42.3 AC, owned). This offering represents a unique opportunity to acquire a super-regional mall with numerous avenues of value enhancement through a greater mixed-use redevelopment and repurposing of the current vacancies, in addition to maintaining the current in-place mall structure.

The Mall benefits from its location within the Savannah MSA, a regional hub for East Georgia, which continues to experience growing household incomes, population growth and low costs of living and doing business. Savannah Mall serves a trade area population north of 443,000 residents within a 25-mile radius. Savannah Mall is situated in one of the busiest submarkets of Savannah, along a major thoroughfare, less than seven miles east of Interstate 95, which bodes well for long-term value enhancement through a greater redevelopment strategy.

Savannah Mall is an enclosed, super-regional mall located in Savannah, Georgia. The Mall is strategically positioned along Abercorn Street, less than seven miles east of Interstate 95, surrounded by a number of name brand national and regional retailers, restaurants, servicers and hotels, all of which generate a steady stream of traffic to the immediate trade area. The Property’s anchor tenants include Bass Pro Shops, D&A Distribution, Dillard’s (Unowned), MCI/OnBrand24 (Unowned), Target (Unowned) and a vacant former Burlington Coat Factory. These anchor tenants are complemented by a strong line-up of major and in-line national retailers highlighted by Hibbett Sports and Rainbow.