Pooler Mall Progress

SEDA has given Ben Carter's Pooler Mall development the go ahead to receive tax breaks. The mall is said to open in 2015 with work beginning later this year. Read more on this update at Savannah Area Mall Development Moving Forward. Here is my previous update on the development: http://sellingsavannahnow.blogspot.com/2012/10/atlanta-developer-to-build-luxury.html


A. Joseph MarshallColdwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga
912-790-6999
 

Atlanta developer to build luxury outlet mall near Savannah

This project has been in the works for the last five years and I am glad to finally see it coming to fruition!

Posted: October 10, 2012 - 12:38am  |  Updated: October 10, 2012 - 7:46am
Reported in the Savannah Morning News by Mary Mayle 

The company that built the Mall of Georgia in Gwinnett County and the upscale St. John’s Town Center in Jacksonville, Fla., is planning a 560,000-square-foot luxury outlet mall in Pooler.

The Outlet Mall of Georgia is projected to open in the summer of 2014 in the southwest quadrant of I-95 and Pooler Parkway with four anchor stores, a food court, restaurants and a wide variety of shops.

The proposed $200-million project is set to break ground next spring and would create as many as 2,000 construction jobs, according to Ben Carter of Ben Carter Enterprises. When fully open, the mall would create between 1,700 and 2,000 retail jobs, Carter said Tuesday.

The 170-acre site will accommodate another half-million square feet for peripheral retail and hotel construction.

While financing is not complete and he would not name potential tenants, pre-leasing has begun, with interest from a number of high-end retailers, Carter said.

Abercrombie, Brooks Brothers, Coach and Louis Vuitton are among the tenants in the Jacksonville mall.

“From a visitor’s perspective, one of things that is missing here is really quality retail,” Carter said.

The Savannah engineering and architectural firm Kern-Coleman is working with Carter on the project.

Carter’s unscheduled presentation came at the end of the Savannah Economic Development Authority’s monthly meeting and was greeted with enthusiasm.

“The announcement today that Ben Carter is developing a luxury outlet mall in Chatham County is fantastic news,” said David Paddison, SEDA board chairman. “In addition to the massive construction investment, job creation and additional tax revenues, the Outlet Mall of Georgia will be a significant amenity for our residents, visitors and the millions of travelers passing through the I-95 corridor.

“This will be the signature outlet project on I-95 between Florida and Virginia”

Savannah is the second largest tourism market on the regional coast with 12 million tourists per year compared to Myrtle Beach at 14 million, Charleston at 4 million St. Augustine, Fla., at 3.4 million and Hilton Head Island at 2 million, according to Carter’s research.

“The closest comparable malls along the I-95 corridor are in Virginia and Florida,” he said. “While the Savannah regional trade area alone would not be sufficient to support a mall of this size, the tourist and traffic counts along the interstate more than make up for that.”

Traffic counts on I-95 run approximately 68,000 vehicles a day or 24.7 million annually.

“This is going to be huge for Pooler and all of Chatham County,” said Pooler Mayor Mike Lamb. “This is the shopping piece we’ve been looking for to make us a more complete city.”

Pooler has been in the bulls eye of targeted growth in the area for the last decade, and Lamb credited city council and staff with helping the city make good growth decisions. “We are ready for this,” he said. “Ben Carter Enterprises is the real deal, and we really appreciate them choosing our city.”

Savannah Area Chamber of Commerce President Bill Hubbard agreed.

“There’s a lot of work still to be done, but this is a great organizaion with tremendous capability,” he said.

“We are eager to help in any way we can.”

Read more about the Outlet Mall of Georgia at Upscale outlet mall proposed for Pooler and Atlanta developer to Ben Carter build luxury outlet mall near Savannah.  

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

DOT Study: Rapid Trains Feasible Between Atlanta, Jacksonville, Louisville & B'ham

Walter Jones
Morris News Service
June 21, 2012

Summary: The first phase of construction of a high speed rail service from Atlanta to Jacksonville would be to Savannah.

Photo credit: 

Map | Georgia DOT

 Key Quotes: 

Running high-speed, passenger rail lines are economically feasible between Atlanta and Jacksonville, Louisville and Birmingham, according to a consultant's study presented Wednesday to the State Transportation Board.

Construction of any of the lines is likely to be many years in the future. But the Obama administration has made high-speed passenger rail a priority and provided funds for exploring routes that could link up into a national network.

Fares between Atlanta and Jacksonville would range between $119.41 and $152.24. Construction would cost from $5 billion to $16 billion or for each mile $11.5 million to $41 million.

Read the full article at DOT Study: Rapid Trains Feasible Between Atlanta, Jacksonville, Louisville & B'ham.

 
A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Work to begin on Pooler water park this winter

Well the worst kept secret in Chatham County is reported in the Savannah Morning News: a water park is coming to Pooler.

June 8, 2012 - 12:08am By SCOTT W. HARRISON

Summary:
Contractors have announced that work on a 10-acre water park next to Royal Cinemas in Pooler will begin this winter.

Key Quotes: 

The estimated $10 million project will be the newest addition to the Pooler Towne Center, a rapidly growing area off Pooler Parkway near Interstate 95.

Construction teams are currently building a five-story IMAX addition to Royal Cinemas, and a separate roller-skating rink in the lot adjacent to Frames and Games bowling alley. Stefan Erkl, the contractor overseeing the projects, said the IMAX theater and rink will be completed in the next couple of months.

The water park will be the “last piece in the puzzle” and “round out the project,” Erkl said. It will include a lazy river, waterslides and beach areas.

Erkl’s goal is to have the water park completed and opened for the public by April 2014. The plan also includes room for future expansion.

 Read the full article at Work to begin on Pooler water park this winter











A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Mitsubishi Heavy plans Savannah, Ga., rotor plant

Dec. 14, 2011, 4:54 a.m. EST

By Mari Iwata

TOKYO (MarketWatch) -- Mitsubishi Heavy Industries Ltd. said Wednesday it will build a plant to produce rotors, a core component of gas turbines, at its facility near Savannah, Georgia, to take advantage of rising demand for gas-fired power plants in the U.S. and to dodge the impact of the strong yen. The company will begin construction of the new facility in the second quarter of 2012.

With the completion of the rotor production facility, slated for the third quarter of 2013, Mitsubishi Heavy will able to produce 12 units a year of gas turbine combined-cycle power generation systems at the Savannah plant without importing any major parts from Japan, a company spokesman said.

Mitsubishi Heavy expects rising demand for gas turbine combined-cycle power generation systems in the U.S. as a large number of coal-fired power plants are reaching the end of their operational lives, while advancements in extraction technology have lowered prices of natural gas to levels that can compete with coal.

Read the original article at Mitsubishi Heavy plans Savannah, Ga., rotor plant

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Growth at Savannah-Brunswick could herald stronger economy

Published Monday, November 28, 2011 in Local

From STAFF and WIRE REPORTS

news@newnan.com 

Summary: A 5% growth rate from the last quarter of fiscal year 2011 to the first quarter of fiscal year 2012 at the Savannah/Brunswick ports means millions in revenue and a strengthening economy.

Key Quotes:

Some experts see economic growth in the shipping industry as a precursor of general economic improvement. Robert Morse, spokesman for the Georgia Ports Authority, said earlier this year that transporting goods by ship was "the part of the economy that came back quickest" after the recent economic downturn.

After a slight dip during the worst of the economic doldrums, the ports at Savannah and Brunswick "are back to record numbers," Morse said in early 2011. "That's good news."

"Elected officials from both sides of the aisle and business leaders from all corners of the state understand the significance the ports have as an economic engine," Gov. Nathan Deal said. "The need to maintain the Port of Savannah as a viable, efficient point of entry for international shipping cannot be overstated."

"The expansion of this port is a job creator," U.S. Transportation Secretary Ray LaHood said during his visit to Savannah earlier this month. "It fits the president's agenda of putting people back to work."

Read the full article at Growth at Savannah-Brunswick could herald stronger economy.


A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga

Louisville's Strategy to Revitalize Commercial Real Estate Applicable to Savannah

While Louisville seeks to revitalize the Charlestown corridor, these ideas could be applied to the revitalization efforts underway on MLK and Montgomery, and East Broad in the future.

Developer Jeffrey Morgan says there’s a key to fostering economic development in neighborhood business districts.

If there is an entrepreneurial spirit "within the community, and if we tap into that and foster it by providing programs to support them and become successful business owners, then we could effectively solve both sides of the equation,” Morgan said.

Morgan focused on revitalizing neighborhood business districts, which handle the day-to-day convenience shopping needs of a neighborhood. He said blighted neighborhood business districts see more national chain stores than mom-and-pop shops.

“National chains tend to be around major transportation arteries, so you’re seeing a lot of franchises go in, like McDonald’s, because they know and recognize there are retail markets that are untapped and underserved, so you start to see them go to these areas,” Morgan said.

He said not only is it important to have business growth for economic growth but also for creating more jobs.

“Real choice includes local employment access. It’s important to put jobs into the neighborhoods,” Morgan said. “Local jobs reduce transportation costs, increase time with families and contribute to the local economy.”

All good ideas to add value to commercial real estate in underused areas. Read the full article at "Making sure the dollars stay at home" by Leah Tate of the News and Tribune.

A. Joseph Marshall
Coldwell Banker Commercial
Commercial Real Estate Advisor
Savannah, Ga.

Savannah Historic Area to get 150-room Embassy Suites Hotel

http://www.bizjournals.com/atlanta/morning_call/2011/10/savannah-historic-area-to-get-150-room.html

A. Joseph Marshall
Commercial Real Estate Agent
Savannah, Ga.