The Savannah Mall at 14045 Abercorn St. has been listed for auction by Ten-X, an online real estate exchange platform.
According to the website, the online auction will take place from Aug. 8- Aug. 11 with bidding starting at $2.5 million.
The mall is owned by Kohan Real Estate Investment Group, which bought the 922,748-square-foot building in 2016 for $9 million under an LLC named Savannah Mall Realty Holding, according to Chatham County property records. Kohan owns nine other malls and shopping centers in the Southeast.
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The state of the American mall has been declining for years due in part to consumer habits shifting from department stores to online shopping. Many malls in the U.S. have been dubbed “dead malls” and the COVID-19 pandemic has exacerbated many of those issues.
In recent years, many longtime tenants and stores have closed within Savannah Mall leaving vacancies and an atmosphere that resembles many of these dying malls. Notably, the shopping center has also had to combat the popularity of Tanger Outlets in Pooler, which opened in 2015, and the existence of Oglethorpe Mall, located less than four miles away.
In a 2021 column, City Talk’s Bill Dawers proposed turning both of Savannah’s malls into apartments to help with the affordable housing crunch across the county. “Smartly crafted zoning ordinances can make cities more resilient, while overly restrictive zoning can fuel sprawl and discourage new housing in areas where it is most needed,” he stated in the column.
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The listing cites the incoming Hyundai plant in Bryan County, the tourism sector and the college market as reasons why the purchase of the mall would be beneficial to potential buyers.
“The property’s strategic location situated in one of the busiest submarkets of Savannah, along a major thoroughfare, bodes well for long-term value enhancement through a greater redevelopment strategy,” the sales listing reads
Laura Nwogu is the quality of life reporter for Savannah Morning News. Contact her at [email protected] Twitter: @lauranwogu_