Skip navigation
Retail Traffic

First, think secondary

Forget Atlanta, Charlotte and Orlando — secondary markets are the new targets for retail development in the Southeast. Developers in the region's major markets are struggling to put the brakes on construction that is outpacing demand and driving vacancy rates toward and beyond the dreaded 10% mark.

The Southeast's new darlings are smaller, growing cities such as Montgomery, Ala., and Greenville, S.C., where many national retailers are eager to make their first footprints.

Still, despite the threats of double-dip recession and sluggish job growth, the Southeast remains a hunting ground for investors seeking retail properties in lieu of more troubled office and multifamily product. “Sales prices have gone up without the fundamentals to justify them — there's more money chasing centers in the Southeast than I've ever seen in my career,” says Bernard Haddigan, the Atlanta-based director of Marcus & Millichap's national retail group.

Chicago-based Inland Retail Real Estate Investment Trust traveled down south for a $401.5 million shopping spree in 2002, snapping up some 3.5 million sq. ft. of centers and freestanding shops in Alabama, the Carolinas, Florida, Georgia and Tennessee. The portfolio has a total cap rate of 9.12%. Publix and Circuit City stores anchor many of Inland's new centers.

While Inland loaded up on community centers, Columbus, Ohio-based Glimcher Realty Trust announced plans to unload its cache. As part of management's strategy to pay down debt and refocus the Glimcher portfolio on regional malls, the REIT is in the process of selling seven Wal-Mart-anchored community centers in Georgia, Tennessee and the Carolinas to a group of private investors.

Wal-Mart continues to be the region's No. 1 retail player. Its Supercenters are dominating smaller markets while driving traditional grocery chains such as Albertsons out of larger ones. The Bentonville, Ark.-based giant is also introducing a smaller grocery format with its Neighborhood Market concept in Florida and Tennessee.

Drug stores continue to expand in the region, as do fast-food chains and restaurants. But these retailers are more often choosing freestanding sites to better accommodate convenience-conscious consumers, according to Trammell Crow Co. research. Power centers are also coming back into favor, Haddigan notes.

On the mall side, performance has been generally consistent. “We've not seen a large vacancy increase region-wide, although there has not been significant rent growth, either,” says Haddigan. Mall owners are waiting to see how the recently completed glut of super-regionals in Florida, Georgia and the Carolinas will impact vacancy rates and rent levels.


Recent growth in jobs and wages in the state of Alabama has created a welcoming environment for expanding retailers. Like many secondary or tertiary states, Alabama is increasing its population and seeing significant growth in middle- and high-income households, says Jeffrey Bayer, president of Birmingham, Ala.-based Bayer Realty. But the state's median household income of $30,790 still falls below the national figure of $37,005, according to U.S. Census data. The state's pockets of prosperity lie in the counties of Madison, Montgomery and Jefferson, where median incomes reached $43,239, $37,005 and $34,569 respectively.

Several new automobile plants in the state have replaced jobs paying $6-$7 an hour with jobs paying $15 an hour, changing demographic characteristics and disposable dollars. “This is leading to better opportunities for retailers to come here and have good numbers,” Bayer says, adding that Birmingham — located in Jefferson County — is the fourth-largest banking center in the United States.

Barry Lazarus, president of Inland Retail REIT, is not quite that sanguine. “It's not Georgia, or the Carolinas, but Alabama does have good things going for it,” he says. Inland Retail recently paid $15.3 million for the 97%-occupied, 222,019-sq.-ft. McFarland Plaza in the university town of Tuscaloosa.

In Bayer Realty's Birmingham project, The Summit, new retailers such as Saks Fifth Avenue, BCBG, Tommy Bahama and Pottery Barn are mining the market. “They would not have been in here five years ago,” says Bayer, “and they're enjoying very good numbers.” Now new centers being built in Huntsville and Montgomery are looking to repeat the same pattern. “That tells me those markets are becoming deeper,” Bayer observes.

“I think overall the market is pretty balanced because we're not building centers yet that are replicating the tenant list of other centers,” Bayer continues. “It's not like Williams-Sonoma has gone into seven centers in Birmingham.”

Upscale tenants are also invading the capitol city of Montgomery via Jim Wilson & Associates' The Shoppes at East Chase, a 435,000-sq.-ft. lifestyle center scheduled for a November opening. Merchants such as AnnTaylor, Abercrombie & Fitch, Williams-Sonoma, Cache, Buckle, Chico's and Banana Republic will all make their market debuts at the project.

Hunter Keller, Bayer's director of tenant rep work, says he doesn't see much decline in rental rates in the state. “In most of the projects we're working on, tenants are looking at new centers a year or two away from opening,” he says. “Rents are anywhere from $16-$17 a foot on the low end for 8,000 sq. ft. to 10,000 sq. ft., up to $25 for restaurants or some of the smaller tenants.”

Keller adds that he is working with “several retailers who are new to Birmingham.” One of the biggest retailing news items of this year was Kohl's entry into the state. “They opened in Huntsville and are looking at Montgomery and Birmingham; everyone's excited about that,” says Keller.


Economic recovery in Georgia, as in much of the nation, has been delayed by an “ongoing crisis in confidence,” writes Rajeev Dhawan, director of the Economic Forecasting Center at Georgia State University, Atlanta, in a recent report. He says the state will continue to lose jobs until 2004. In Atlanta, Dhawan predicts an annual job growth rate of -2.1% for 2002, but a positive rate of 1.4% in 2003.

Ray Uttenhove, senior vice president in the Southeast retail services group for CB Richard Ellis in Atlanta, however, sees growth in all directions for the state's capitol. She notes a combination of new residential development in the suburbs, but also in town as well. “There's been a lot of redevelopment and mid-rise residential, so retail developers are beginning to look at what works from a more vertical design,” Uttenhove says.

Atlanta has a solid supply/demand balance overall, she says. Well-located, well-anchored shopping centers are still fairly tight, especially regional malls and large community centers. “Obviously, we've lost a few major retailers through bankruptcy, but re-leasing on that space has been pretty good,” Uttenhove says.

According to Marcus & Millichap, rental rates are steady, with annual asking rents rising to $15.88 a foot this year from $15.72 in 2001.

In particular, discount chains have been expanding in the region. “We've had a fair amount of activity with infill by existing retailers like Target, TJ Maxx, Marshall's, and Wal-Mart Supercenters.” Wal-Mart, she says, is rumored to be looking for grocery sites.

Major power centers are being developed in emerging markets such as McDonough, and on Camp Creek Parkway on Atlanta's southwest side, and near Hartsfield International Airport where new residential growth has occurred and attracted the likes of Target. “The leasing of major power centers has been very successful,” says Uttenhove.

In fact, North American Properties' super-regional power center Camp Creek Marketplace has stirred so much tenant interest that the developer recently announced plans for an additional $35 million, 395,000-sq.-ft. phase to the project. The expansion, due to begin next summer, will make the now 1 million-sq.-ft. center the city's largest retail development currently under construction.

Overall, new construction is down due to a drop in consumer confidence and the recent addition of several regional malls to the market. According to Marcus & Millichap research, the city saw nearly 8 million sq. ft. come online in 2001, bringing the market's GLA per capita to 27.59 sq. ft. per person, compared with the U.S. average of 20 sq. ft. per person. 2002 will see a significantly smaller 4.9 million sq. ft. completed, but even that amount could become burdensome in the cutthroat market.

In spite of the negative signs, the long-term outlook is positive, says Lazarus, whose firm has demonstrated its confidence in the state with a spate of recent acquisitions. “Even though there's been a little slowdown, the retail market has generally stayed pretty strong,” he says. “We see a short-term blip in the growth pattern, but with companies like Delta — and Atlanta having become a high-tech center — the long-term outlook is very strong.”

The Carolinas

A large supply of space initiated in the late-1990s is coming home to roost in Charlotte, the Carolinas' largest market. Although retail completions in the city will slow to 1.38 million sq. ft. this year — down from 2.73 million sq. ft. in 1999 — vacancy rates will still increase by 1.4% by year end, to 11.6%, according to Marcus & Millichap research. The firm also predicts that asking rents will drop 1.5% to $14.84 per sq. ft. as the market slowly digests its new centers.

Nevertheless, growth trends will occur in the “string city” I-85 corridor all the way from Greenville, S.C., through Charlotte, Greensboro and over to Raleigh-Durham, says Mike Burkard, vice president of Southeast retail investment sales in the Charlotte office of CB Richard Ellis' Retail Investment Advisors.

“Outside of these markets, the other hot areas will be along the coast from Wilmington down through Myrtle Beach and Charleston,” he says. Myrtle Beach was recently cited by National Research Bureau as the most dense retail market in the United States, with 44.3 sq. ft. of retail GLA per person. “A number of the nation's leading retailers including Target, Kohl's, Ross, Dick's and Home Depot still have a lot of room to grow in these markets and have just made their debut in cities like Charleston and Columbia. Even smaller markets like Jacksonville and Greenville are getting attention from the big names in retailing.”

Investors are aggressively purchasing newly built neighborhood and power centers, Burkard adds. “Capitalization rates on Harris Teeter, Publix and Bi-Lo anchored centers are achieving record levels and supply remains very limited. Look for some strategic infill development to take place in the core markets of Charlotte and Raleigh over the next 24 months,” he predicts.

“Given the economy, we have been trying to maintain the tenants we've got,” says David Allen, head of leasing for Mark Properties Inc., in Durham. “Rents are not tracking upwardly as they have in the past — it's flat to downward in the Research Triangle and across the Carolinas.”

Of course the Carolinas will continue to attract new residents, says David Rosen, executive vice president of Rosen Associates Management Corp., Jericho, N.Y. “It's safe to say that Raleigh and all the Carolinas will see tremendous population growth; it's a very desirable region to live in.”

Rosen Associates recently bought a 125,000-sq.-ft. center in Raleigh and its experience “has been terrific,” says Rosen. The property is 100% occupied. “Since we bought it we got Food Lion to expand and CVS to go to freestanding, and we were able to get the space re-leased,” he reports.

“We recently refinanced, and the appraisal value was even higher than we thought it would be,” says Michael Winters, vice president of acquisitions for the company.


“Flat” seems to be the operative word for Tennessee. “Things are pretty stable; nothing significant really stands out in terms of major developments,” says Haddigan of Marcus & Millichap. “CBL's Chattanooga center is one of the few new ones, and a 130,000-sq.-ft. project called the Shoppes at Hamilton Place. Otherwise, the market is consistent, with nothing of great significance.”

Paul Gaither, an associate with CB Richard Ellis in Nashville, says development activity has slowed down, with much if not all retail in middle Tennessee being driven by big-box retailers expanding or new retailers entering the market.

According to the ICSC's Scope U.S. 2002, the state had 1,207 shopping centers in 2000, and 1,217 in 2001. During that period, GLA grew from 136.7 million sq. ft. to 137.9 million sq. ft.

Nor has the population grown significantly. The population in 2000 was 5,689,000. In 2001, the figure was 5,740,000.

Nonetheless, several national retailers are claiming turf in Tennessee for the first time, even adjusting their traditional formats to fit into the state's smaller markets. Retailers new to Tennessee include Ross (with four sites under negotiation), Target and Kohl's, which opened four stores in Nashville in April.

Downsizing is a definite trend as new stores are built in secondary markets. Many retailers are going to smaller prototypes to capture markets that might not support full-size stores, says Liz Whiteside, vice president in CB Richard Ellis' Southeast retail services group. “Even Office Depot is going to 13,000-sq.-ft. prototypes,” she says. “We will see more national tenants doing this as they try to infiltrate smaller or in-town markets.” This is true across the region, she adds.

And changes are also due for the market's grocery-anchored segment.

The exodus of Albertsons from Nashville triggered a game of musical grocery anchors earlier this year. “Publix took over six locations, and Wal-Mart's Neighborhood Centers took over two,” says Whiteside.

“The entrance of Publix will have a big impact,” predicts Gaither. “We hear they have aggressive plans.” And where Publix goes, smaller tenants are likely to follow. “Some tenants may leave older centers to go to Publix centers, even though the rents are a couple of dollars higher than are typical here ($16-$17 per sq. ft. vs. $14-$16).”

Smaller, locally based chains will be likely victims as Publix and Wal-Mart slug it out in the grocery category. “With discounters like Wal-Mart testing the neighborhood grocery concept, there could be a profound impact on lower-level grocery stores,” he warns. “The consensus is that Publix and Kroger will do well, but Publix could really go after the Bi-Los and Winn-Dixies,” he asserts.


Mississippi retail got a shot in the arm this April when Montgomery, Ala.-based Aronov Realty Management opened its new lifestyle center, Dogwood Festival, in Jackson. Besides being the state's first lifestyle concept, the center also brings a bevy of retailers to Mississippi for the first time, including anchor tenants Borders and Linens ‘N Things.

The U.S. Census Bureau estimates that the population of Mississippi in mid-2001 was 2,858,029, only a 0.5% increase over figures from the previous year. The population grew a total of about 10% for the entire decade, compared to the U.S. average of 13%. The most recent estimate for total retail sales is $20.8 billion, or $7,605 per capita.

Retailer interest continues to be strong in the Biloxi area as evidenced by the 850,000-sq.-ft. open-air Crossroads Mall at the junction of Interstate 10 and Highway 49. The center, developed by Texas-based David Berndt, includes tenants such as Office Depot, Albertsons, Barnes & Noble, T.J. Maxx, Academy Sporting Goods and Cinemark. Expansion of the Gulfport Factory Shops and the Edgewater Mall has put an additional 580,000 sq. ft. of retail space to the mix as the area's retail inventory now exceeds 7.5 million sq. ft., according to Gulfport, Miss.-based Latter & Blum Inc., a commercial real estate development and brokerage firm.

The top county in the state in terms of retail sales was Hinds County ($2.7 billion), site of the state capitol of Jackson. Rounding out the top five were Harrison County ($1.6 billion), Lee County ($975 million), Jackson County ($948 million), and Forrest County ($852 million).


The crowded Florida market welcomed 3.9 million sq. ft. of new GLA in 2001, and approximately 3.1 million sq. ft. in 2002, most of it mall space, according to Marcus & Millichap research. But these centers were planned long before recession gripped the state's central region.

Florida actually lost a total of about 90,000 jobs between April 2001 and April 2002, according to David Marks, president of Marketplace Advisors Inc., Orlando. The largest deficit, not surprisingly, was in Orlando, which lost 10,600 jobs. But in spite of the city's flat rents and anticipated 1% rise in vacancy for 2002, Marcus & Millichap reports multi-tenant property values in Orlando will continue to rise, buoyed by an onslaught of new product that helped push overall sale prices up 33% in 2001.

One of those new products, 1.2 million-sq.-ft. The Mall at Millenia, will attempt to compete for market share with its Disney neighbors and Simon's dominant, 2.5 million-sq.-ft. Florida Mall. (see box on p. 33)

Competition also continues to simmer in the southern Florida markets. Miami is the scene of an impending turf war as The Rouse Co. finishes its 435,000-sq.-ft. Village of Merrick Park in Coral Gables. The Neiman Marcus-anchored regional will attempt to out-upscale its venerable rival, the 480,000-sq.-ft. Bal Harbour Shops. A legal wrangle over tenants' right to relocate from Bal Harbour to Merrick Park has been settled, “all the landlords are taking aggressive steps to keep their tenants,” according to Deutsche Bank Securities analyst Louis Taylor. “This may slow the leasing of the unleased space at Merrick or result in a less desirable tenant/credit.” (for an in-depth look at the Florida market, see SCW's 2002 Florida Area Review on p.25 of our August 2002 issue.)

Steve Lewis is an Atlanta-based writer.

Southeast snapshot

50 million residents call the seven-state region home. Population growth in the 1990s ranged from 10.1% to 26.4% vs. the nationwide figure of 13.1%. The home ownership rate in the Southeast is on average higher than the nationwide figure of 66.2%, but median household incomes in the seven states are still below the national median income of $37,005.


  • Total population 2001: 4.5 million
  • Population percent change 1990-2000: 10.1%
  • Home ownership rate 2000: 72.5%
  • Median household income 1997: $30,790
  • Unemployment rate July 2002: 5.7%


  • Total population 2001: 16.4 million
  • Population percent change 1990-2000: 23.5%
  • Home ownership rate 2000: 70.1%
  • Median household income 1997: $32,877
  • Unemployment rate July 2002: 4.6%


  • Total population 2001: 8.4 million
  • Population percent change 1990-2000: 26.4%
  • Home ownership rate 2000: 67.5%
  • Median household income 1997: $36,372
  • Unemployment rate July 2002: 4.6%


  • Total population 2001: 2.9 million
  • Population percent change 1990-2000: 10.5%
  • Home ownership rate 2000: 72.3%
  • Median household income 1997: $28,527
  • Unemployment rate July 2002: 6.5%

North Carolina

  • Total population 2001: 8.2 million
  • Population percent change 1990-2000: 21.4%
  • Home ownership rate 2000: 69.4%
  • Median household income 1997: $35,320
  • Unemployment rate July 2002: 6.8%

South Carolina

  • Total population 2001: 4.1 million
  • Population percent change 1990-2000: 15.1%
  • Home ownership rate 2000: 72.2%
  • Median household income 1997: $33,325
  • Unemployment rate July 2002: 5.2%


  • Total population 2001: 5.7 million
  • Population percent change 1990-2000: 16.7%
  • Home ownership rate 2000: 69.9%
  • Median household income, 1997: $32,047
  • Unemployment rate July 2002: 4.9%

Sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis

Millionaires and Mickey Mouse?

The Mall at Millenia is trying to break new ground in luxe retail in the family vacation mecca of Orlando. But some critics wonder if the project will fly in the current economy.

In an August panel discussion at the ICSC 2002 Florida Conference titled “Regional Overview of Florida,” Britt Beemer, chairman of Charleston, S.C.-based America's Research Group Ltd., questioned the long-term feasibility of the center. “Orlando doesn't have a big luxury shopper base,” he said. “The market's consumer has never been high end.” Beemer also said the mall's tourist-oriented strategy could fall flat against increased competition from Disney and less overall tourists due to the 9/11 slowdown.

The concept for the center, which is a 50/50 joint venture between the Forbes Co. of Southfield, Mich., and Taubman Centers Inc., of Bloomfield Hills, Mich., is based on a foundation that Nathan Forbes, partner in the Forbes Co., refers to as a “four-legged stool”:

  1. Department store differentiation
  2. A strong restaurant component
  3. A merchandising philosophy of not overlapping retailers
  4. Architectural integrity

Macy's, Bloomingdale's and Neiman-Marcus give the center “huge name recognition” yet very little overlap with the rest of the market, Forbes says. “This is coupled with its location (I-4 and Conroy Road, in Southwest Orlando), which is central to the entire Orlando market, as well as to visitor business.”

“We anticipate major travel trips for three different retailing segments,” says Forbes. “First, you have the luxury retailers — Tiffany, Cartier, Louis Vuitton, who have not been in Orlando in the past. Next is our bridge and better branded stores, from Tommy Bahama to Kenneth Cole, that next tier that represents the hottest retailers of today that do not have a presence here. Then, we'll have the junior Generation Y and X merchandise — Quicksilver, Forever 21, Rampage — those types. So, we take in all price categories and all age groups.” Answering his critics, he notes that luxury retailers may represent only about 180,000 sq. ft. out of 1.2 million, or 15% of the overall space.

For all of those reasons, and because he is bullish on Orlando, Forbes says, “We expect to do tremendous business.”

Southeast Project Listings

Project Name/City, State Developer-Manager/Headquarters Center Type Project Type Current GLA/(Planned Addition) Completion Date* Anchors
The Shoppes at EastChase Montgomery, Ala. Jim Wilson & Assoc./Alfa Cos. Montgomery, Ala. L N 435,000 sq. ft. November 2002 Dillard's
Parkway Place Huntsville, Ala. CBL & Assoc./Colonial Properties Chattanooga/Birmingham, Ala. M RD 631,000 sq.ft. October 2002 Dillard's, Parisian
Tattersall Park Birmingham, Ala. EBSCO Properties Inc. Birmingham, Ala. L N 756,110 sq. ft. Fall 2004 TBA
Valley Bend at Jones Farm Huntsville, Ala. The Sembler Co. St. Petersburg, Fla. P N 360,000 sq. ft. Fall 2002 Target, PETsMART, Bed Bath & Beyond Marshall's, Barnes & Noble, Ross
Clearwater Mall Clearwater, Fla. The Sembler Co. St. Petersburg, Fla. P N 790,578 sq. ft. October 2003 Super Target, Costco, Lowe's Linens ‘N Things, Borders
Drew 19 Shopping Center Clearwater, Fla. Colliers Arnold Clearwater, Fla. P N 650,000 sq. ft. Fall 2002 Marshall's, Babys ‘R Us
55 Miracle Mile Boca Raton, Fla. Starwood Urban Retail Washington, D.C. MU RD 39,400 sq. ft. Spring 2003 Baja Fresh, Jamba Juice, Atlanta Bread Co.
Village of Merrick Park Coral Gables, Fla. The Rouse Co. Columbia, Md. M N 435,000 sq. ft. Open Neiman-Marcus, Nordstrom
Osceola Square Mall Kissimmee, Fla. The Goodman Co.West Palm Beach, Fla. P RD 350,000 sq. ft. 4Q 2003 Beall's, Ross Dress For Less
The Loop Kissimmee/St. Cloud, Fla. The Wilder Cos. Boston F N 320,000 sq. ft. 2004 To be announced
Festival Bay Orlando, Fla. Belz Enterprises, Memphis, Tenn. E N 1 million sq. ft. April 2003 Bon Jon Surf Shop, Van's Inc. Bass Pro Shops Outdoor World
Conway Crossing Orlando, Fla. IRT Property Co. Atlanta S N 72,721 sq. ft. Open Publix
Belz Factory Outlet World/Designer Outlet Center, Orlando, Fla. Belz Enterprises Memphis, Tenn. O RN 847,699 sq. ft. November 2002 Polo Ralph Lauren, Off Fifth Saks Fifth Avenue Outlet, Calvin Klein, Gant
Cornerstone at Lake Mary Orlando, Fla. Solo Development Orlando, Fla. N N 56,554 sq. ft. Open Publix
Camp Creek Marketplace Atlanta North American Properties Cincinnati P N 1 million sq. ft. Phase II 2004 Target, Lowe's, BJ's, Marshall's, Ross Dress For Less, Linens ‘N Things
Metropolis Atlanta Novare Group/Wood Partners/TMW, Atlanta MU N 40,000 sq. ft. 3Q 2002 To be announced
Mill Creek Crossing Buford, Ga. Halpern Enterprises Inc. Atlanta P E 372,954 sq. ft. (+20,000 sq. ft.) Fall 2003 Wal-Mart Lowe's
Cruse MarketPlace Forsyth County, Ga. North American Properties Cincinnati N N 75,000 sq. ft. November 2002 Publix
Griffin Crossroads Griffin, Ga. Halpern Enterprises Inc. Atlanta P N 450,000 sq. ft. February 2003 Wal-Mart Supercenter, Goody's, Famous Footwear, Dollar Tree
The Shops at Huntcrest Lawrenceville, Ga. IRT Property Co. Atlanta S N 97,040 sq. ft. Fall 2002 Publix
Shallowford Falls Marietta, Ga. Spectrum Realty Advisors Atlanta N RD 103,572 sq. ft. TBA Kroger
Suwanee Crossroads Suwanee, Ga. Jacoby Development Atlanta N E 258,044 sq. ft. (+ 19,500 sq. ft.) 1Q 2003 Super Wal-Mart
ParkTowne Village Charlotte Ghazi Co./Cornelson Co. Charlotte S N 100,000 sq. ft. November 2002 Calico Corners, Jason's Deli Qdoba, Marble Slab Creamery, Sport Clips
Whitehall Commons Charlotte Crosland Charlotte S N 265,000 sq. ft. November 2002 Bi-Lo Lowe's
The Shoppes at Citiside Charlotte Edens & Avant Columbia, S.C. C N 79,000 sq. ft. Open Bi-Lo
The Streets of Toringdon Charlotte Continental Retail Dev. Columbus, Ohio L/MU N 200,000 sq. ft. May 2003 To be announced
Lake Shore West Shopping Center Denver, N.C. Norcom Development Inc. Charlotte N N 60,000 sq. ft. Fall 2003 To be announced
Friendly Shopping Center Greensboro, N.C. Starmount Co. Greensboro, N.C. L E 1 million sq. ft. (+ 19,840 sq. ft.) Open Hecht's, Belk Sears
Florence Commons Florence, S.C. PREIT Philadelphia S RD/E 197,235 sq. ft. (+ 32,450 sq. ft.) 3Q 2003 Wal-Mart, Toys ‘R Us Staples
Stockbridge Commons Tega Cay, S.C. JDH Capital Charlotte N N 100,000 sq. ft. Summer 2003 Lowes Food, Eckerd
Mall of South Carolina Myrtle Beach, S.C. CBL & Assoc. Chattanooga, Tenn. M N 1.5 million sq. ft. Spring 2004 Belk, Dillard's, Sears
Bellevue Place Bellevue, Tenn. GBT Realty Corp Brentwood, Tenn. P N 76,772 sq. ft. Open Bed Bath & Beyond, Michael's
Center Type: S=Strip Center, N=Neighborhood Center, C=Community Center, E=Entertainment center M=Regional/Superregional Mall, P=Power Center, O=Outlet Center, L=Lifestyle Center, F=Fashion/Specialty Center, MU=Mixed-Use Development.
Project Type: N=New Project, E=Expansion, RN=Renovation (updating look, refacing, common area or amenities upgrade), RD=Redevelopment (demalling or remerchandising).
Completion Date*: Subject to change.
Existing/Planned GLA (Expansion GLA): GLA=Gross Leasable Area. TBA=To be announced/unavailable.
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.