Pooler’s future outlet mall, Tanger Savannah, is coming together nicely, according to its chief developer, Ben Carter, and his new partner, Steve Tanger, president and CEO of Tanger Factory Outlet Centers.
Carter and Tanger held a press conference Thursday morning to provide details on the outlet mall and their new partnership, finalized in January.
Carter said Tanger approached him two months ago about the Pooler project, originally called the Outlet Mall of Georgia, and by December they had agreed to a 50-50 partnership to co-develop and co-manage the space.
Tanger said the first phase of construction is planned to deliver 400,000 square feet of retail space and will house 90 upscale brand name retailers.
The CEO confirmed a few stores Thursday, including Michael Kors, J. Crew, White House Black Market, Brooks Brothers, Coach, Nike and Abercrombie.
“Some of them are so secretive and so sensitive, we can’t mention them here today,” said Tanger.
He said the outlets are expected to provide 900 full and part-time jobs and contribute $10 million in additional sales tax revenue to the region.
Phase one will take up about 40 acres, according to Carter, with another 40 available for outparcel development. After phase one is complete, the project could grow up to 500,000 square feet as more retailers decide to enter the market.
Carter said he had secured commitments on about 80 percent of available space.
Right now, construction is stalled while the soil settles, but Carter said he hopes to be building out of the ground by spring. Tanger Savannah is scheduled to open in the second quarter of 2015, though Tanger said they would try to open earlier if possible.
This is not the first partnership for Carter, who brought in Simon Property Group for his upscale St. John’s Town Center in Jacksonville, Fla.
“This is my first venture into the outlet business, so, to me, the Tanger Partnership was a strategic way to partner with somebody who’s done more than I have and learn what I haven’t learned so far,” said Carter.
“It also just adds another layer of assuredness that we will deliver what we promised,” he said.Tanger said he and Carter are on the same page as far as the design of the outlets go.
“This will be Ben’s architect; this was his vision. We’ll be working on the construction of the asset, but it’s basically his design,” said Tanger.
Asked about the effect Tanger Savannah may have on the existing Tanger Outlets in Hilton Head, Tanger said he doesn’t believe the two will overlap.
“It’s two totally different markets,” said Tanger. “I don’t think the two will cannibalize each other, and with the cross-marketing, I think that more people will be aware of the Tanger brand. I think, on balance, it will help both centers. ”
The North-Carolina based Tanger Factory Outlet Centers is the largest owner of outlets in the country. It owns and operates 44 outlet shopping centers in 26 states and Canada.
Carter’s own portfolio includes four million square feet of retail projects such as the Mall of Georgia in Gwinnett County, St. John’s Town Center in Jacksonville and several developments in the Buckhead area of Atlanta.
Carter also announced plans this week to develop a 400,000 square-foot fashion outlet mall in Augusta and unveiled plans to Savannah’s City Council to revitalize Broughton Street through the acquisition of 24 properties.