“Savannah and its surrounding submarkets boast impressive demographics and tourism numbers,” Ben Carter, head of Ben Carter Enterprises, tells GlobeSt.com. “The region's retail offerings previously underserved the community. As we develop the outparcels around Tanager Outlets Savannah, which is prominently located near the airport and major highways, we will continue to seek retailers, restaurants, hotels and similar uses that resonate with market demand.”

SRS' Southeast investment sales team brokered the sale of the 940,408-square-foot regional mall. Located in 14045 Abercorn Street in Savannah, GA, Bass Pro Shops, Target, Dillard's, Burlington Coat Factory and Virginia College anchor the mall. The Savannah Mall sits at the northwest corner of Abercorn Street and Apache Avenue on 75.53 acres of land.

“This was an excellent opportunity to own an irreplaceable piece of real estate in Savannah along the Abercorn retail corridor,” says Kyle Stones, senior vice president for SRS' Southeast investment sales team. “The buyer has the ability and experience to come in and take advantage of an excellent opportunity to add long-term value to Savannah Mall by continuing to build upon the momentum established by the previous owners.”

Stones and Pierce Mayson, vice president in the SRS Atlanta office, represented the seller, SSF Savannah Properties, in the transaction. The buyer, to Savannah Mall Realty Holding, was self-represented.

Savannah retail is hopping. Ben Carter Enterprises recently took full ownership of the 56 acres of outparcels surrounding Tanager Outlets Savannah. The recent acquisition includes the existing Applebee's and Panda Express sites.

“Savannah and its surrounding submarkets boast impressive demographics and tourism numbers,” Ben Carter, head of Ben Carter Enterprises, tells GlobeSt.com. “The region's retail offerings previously underserved the community. As we develop the outparcels around Tanager Outlets Savannah, which is prominently located near the airport and major highways, we will continue to seek retailers, restaurants, hotels and similar uses that resonate with market demand.”