VOL. 129 | NO. 244 | Tuesday, December 16, 2014
Tanger Outlets Involved in Southaven Project
By Amos Maki
A major player in the development of outlet malls has jumped on board the long-planned effort to build a massive outlet mall in Southaven.
Tanger Outlets, which has a portfolio of 44 outlet centers in 26 markets in the U.S. and Canada, is now involved in the effort to build The Outlet Shops of the Mid-South at Interstate 55 and Church Road in Southaven.
Tanger Outlets, with a portfolio of 44 outlet centers such as this one in Georgia, has jumped on board the long-planned effort to build an outlet mall in Southaven.
“We are pushing hard to meet pre-leasing thresholds in order to break ground by year end!” the company said in a November leasing and development update. “This center is projected to open by holiday 2015.”
In 2011, Memphis-based Poag Lifestyle Centers and the Simkin Group announced plans to build the outlet center. Josh Poag of Poag Lifestyle Centers declined to comment, as did Southaven Mayor Darren Musselwhite.
Southaven and DeSoto County officials several years ago approved a $15 million tax increment financing, or TIF, plan in which bonds will be issued to pay for the infrastructure for the project.
In addition, the development has already won approval for $34 million in sales tax rebates for the 324,000-square-foot project. The outlet mall will sit on nearly 33 acres owned by businessman William Adair and will include more than 50 stores once complete.
“I think it’s safe to say what they’re building there will be unlike anything we’ve ever seen in terms of size,” said Danny Buring of The Shopping Center Group LLC.
Buring said Southaven, which has several large tracts of undeveloped land and is in close proximity to over 2 million greater Mid-South residents, was an ideal fit for a large outlet mall.
”A factory outlet mall has a 100-mile to 200-mile radius draw and in that area you probably have 2 million people, said Danny Buring of The Shopping Center Group LLC. “It makes a lot of sense for us to have a nice, big outlet store think Southaven is a great location for it.”
Buring said the proposed outlet mall would be a boon for the Church Road area. Most DeSoto County commercial development has taken place on or near Goodman Road, which is near capacity.
“Goodman Road is pretty much built out, so now it’s starting to move east,” said Buring. “The next evolution is to come down Church Road. There’s some phenomenal wide-open pieces of land there. It’s going to be a game-changer for Church Road.”