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Two Savannah retail centers sell for $63m
Transactions - FEBRUARY 2, 2023

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Two Savannah retail centers sell for $63m

by Released

JBL Asset Management has acquired two retail centers in Savannah, Ga., comprising the 186,514-square-foot Savannah Centre and the 197,605-square-foot Chatham Plaza, for a total of $63 million.

JLL Capital Markets represented the seller.

Savannah Centre is located at 7400 Abercorn St., and Chatham Plaza is located at 7801-7825 Abercorn St. Constructed in 1986, Savannah Centre is 81 percent occupied and leased to TJ Maxx, Bed Bath & Beyond, Shoe Carnival, Jo-Ann, Five Below, Rack Room Shoes, Chicken Salad Chick and more. The property is shadow anchored by Burlington. Built in 1972 and renovated in 2001, the 93 percent occupied Chatham Plaza is leased to Ross Dress for Less, Ashley HomeStore, Pet Supermarket, Dollar Tree, Skechers, Chili’s, Longhorn Steakhouse, Starbucks Coffee and more.

The centers are in a dominant retail node and benefit from Savannah’s tourist industry, with a total of 14.9 million visitors in 2021, as well as from proximity to Savannah

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