VOL. 118 | NO. 86 | Monday, May 17, 2004
Coll Retail (lead)
Collierville Experiences Retail Boom
Open-air mall brings new development south of Poplar
The Daily News
When Cousins Properties Inc. and Jim Wilson & Associates
Inc. purchased 135 acres of land for the much-talked about open-air shopping
mall in Collierville, it didnt signal the beginning of a retail trend for the
The trend was already under way.
Numerous commercial projects have been built or started
recently in Collierville. And it seems the growth will only continue.
The reason is that demographically, its appealing, said
Scott Barton, vice president of retail services for commercial real estate services
firm CB Richard Ellis. There is a very high average income, and until now, the
residents have had to travel a great distance to get to any retail
Major development. The Avenue at Carriage Crossing,
an 800,000-square-foot open-air shopping mall with retailers including
Dillards, Parisian, Ann Taylor Loft, Barnes & Noble and Victorias Secret,
will play a major role in keeping Collierville residents and their money at
Located at the intersection of Houston Levee Road and Bill
Morris Parkway, the mall has received commitments from 40 retailers and
restaurants. Construction will start within the next 30 days, and the mall is
scheduled to open in October 2005.
Other activity. The Avenue at Carriage Crossing is
not the only commercial growth happening in Collierville. A project including a
Kohls store at Poplar Avenue and Houston Levee Road opened in the spring in
Gallina Centro. Other projects are planned for that Boyle development,
including a Pier One store that goes before the Board of Mayor and Aldermen
Other projects under way include a retail center being built
just north of the intersection of Poplar and Byhalia Road that will include a
Target and a Schnucks grocery store. Lowes Home Improvement will seek approval
from the Collierville Planning Commission next month for a store in the area,
Shifting trend. The number of commercial developments
under way in the town comes in sharp contrast to construction trends a decade
ago, when most projects were residential.
Ive been here six and a half years, and the first three or
four years or so, it was a lot of residential development with some
commercial, said Harvey Matheny, Collierville development director. Id say
in the last three years, its sort of flip-flopped. We still had residential
growth last year was strong in residential but commercial growth has kicked
in, and that stands to reason. They want to see the rooftops here before people
come out with businesses and retail establishments.
Growth across the board. Last year was strong for
both residential and commercial building 489 residential building permits and
105 non-residential permits were filed in 2003, according to town statistics.
I think its safe to say were experiencing more commercial
growth now than weve ever experienced, Matheny said. Even without Carriage
Crossing, I think that could still be said with Target, Schnucks, Kohls,
While not all of those projects began in 2003, Matheny said
519,000 square feet of commercial development was approved by the planning
department last year.
Thats about 72 acres worth of developments, he said.
Why now? There are many reasons rapid commercial
growth is occurring in Collierville. One is the simple fact that until
recently, infrastructure did not exist to support new development.
The reason nothing south of Poplar started happening until
about six years ago is because sewer wasnt available, Matheny said. You didnt
have any sewer collection available, and you had no sewer treatment plant to
handle that area.
But in the late 1990s with the addition of the FedEx World
Technology Center, as well as the extension of both Winchester Road and Bill
Morris Parkway, things changed.
With the extension of Winchester and (Bill Morris),
Collierville is all of the sudden not that far away anymore, Matheny said.
There is a separation, but we certainly are a part of the regional economy. We
werent as accessible to it before.
Winchester Road could be on its way to becoming a commercial
center stretching from Hickory Hill east through Collierville. And that
includes nearby Bill Morris Parkway.
Carriage Crossing will lead to increased development all
along the (Bill Morris) corridor, Barton said. As more and more cars travel
that road to get to that development, I think youll see developments sprout
Expectations. As for the future, Barton sees
Collierville becoming a major retail player in Metro Memphis.
Long-term, some people look at Memphis as having three
commercial nodes Wolfchase, Southaven and the third being Collierville, he
said. If that turns out to be correct, I think the market can definitely
support what is there now. And given the location on (Bill Morris) Parkway, I
think that gives Carriage Crossing the opportunity to be a destination.
New center of activity. Danny Buring of the Shopping
Center Group said most development in Collierville will occur south of Poplar
I think we have seen about as much development on Poplar in
Collierville as were going to see, he said. I think well see more oriented
around the mall.
Wherever developers decide to go, the growth will only
I get several calls a week from various developers or their
brokers looking at different parcels asking about zoning or land use, Matheny
said. Id say there are probably more inquiries about possible site locations
than Ive seen, at least within the last six months.