Poag Shopping Centers reflects on a successful 2019 with key highlights across its portfolio
January 24, 2020
Memphis, TN – Poag Shopping Centers closed 2019 with meaningful progress across its portfolio, highlighted by portfolio expansion, strong leasing momentum, new experiential concepts, significant community engagement, and continued investment in team development.
Portfolio Growth
In 2019, The Shops at Highland Village in Highland Village, Texas joined Poag’s portfolio of open‑air Lifestyle Centers. Anchored by Whole Foods Market, AMC Theatres, and a mix of national retail and restaurant brands, the center further strengthened Poag’s position as a leader in thoughtfully curated, experience‑driven environments.
Record Lease Transactions
Poag achieved over 110 new leases and renewals, representing more than 600 years of total term across the portfolio. These deals spanned best‑in‑class national, regional, and local retail, dining, and service‑oriented brands—reinforcing the long‑term relevance of Poag’s merchandising strategy.
Focus on Experiences
Experiential retail continued to drive leasing activity, with 42% of all retail GLA opened in 2019 dedicated to dining and entertainment. Highlights included the opening of a 38,000‑square‑foot Urban Air at The Air Marketplace and a growing lineup of chef‑driven concepts such as The Lucky Well at The Shops at Valley Square.
Community Building
Poag’s commitment to placemaking was reflected in more than 250 family‑friendly events hosted throughout the year. Food truck festivals, outdoor movie nights, concerts, fireworks, and holiday tree‑lighting ceremonies helped strengthen community connections, drive traffic, and differentiate Poag’s centers within their markets.
Densification Begins
Strategic efforts to enhance long‑term value included early densification activity at The Shops at Perry Crossing, where two adjacent parcels were sold and placed under construction for new Marriott‑branded hotels—bringing additional traffic and complementary onsite uses to the center.
Team Development
In support of ongoing growth and operational excellence, Poag continued to invest in its people. Keith Laird was promoted to Vice President of Leasing, Matt Prince joined as Vice President of Development, and new marketing team members were added—underscoring Poag’s commitment to adaptability and excellence in a rapidly evolving retail landscape.