Profile of Macon, Georgia's Retail Market

Published Thursday Dec 1st, 2011

The Macon retail market can be divided into 6 main areas:  North Macon, East Macon, South Macon, Macon Mall Area, West Macon, and Sub-South.  According to my recent annual survey of over 8 million square feet in Bibb County, the overall retail market currently shows a 76% occupancy rate which is a slight improvement from 75% in 2010.  The majority of the vacancies is attributed to aged big box buildings and poorly positioned centers with vacant anchor space.  Over the last few years the retail segment has remained relatively calm as the flurry of retailers to the Riverside Dr/Bass Rd corridor slowed due to retailer reluctance to expand during these cautious economic times. The new owners of Macon Mall have a major rehab underway which includes the repositioning of tenants into the section between the J C Penney and Sears Department stores.  Additional highlights from the annual survey are below.

North Macon Area

The newest retail project in north Macon is Bass Plantation, a 66,000 square feet retail development that opened in 2009 with Publix as the anchor. It is located in the southwest quadrant of the Bass Road and I-75 interchange.  The lease up of the 730,000 square foot Shoppes at River Crossing has gone well. The few stores that closed due to bankruptcy have been back filled.  Store sales have incurred a steady increase since the center opened in 2008.   The center is approximately 90% leased at this time. 

The 37,000 square foot theater at the Arkwright Road Exit closed in 2011, and  there are plans  to convert it to consumer retail if a theater replacement can not be found.  Total vacancy in the North Macon Area increased slightly from 15.8% in 2010 to 17.85% in 2011. 

Macon Mall Area

There are more than 800,000 square feet of vacant big box space along the Eisenhower Parkway corridor from Pio Nono Avenue to Bloomfield Road.  In 2011, ALDI Foods opened a new store at the entrance to Eisenhower Crossing Shopping Center.  Hull Storey Gibson Companies purchased the 1.4 million square foot Macon Mall in 2011 and the rehab is well underway.  This included the demolition of approximately 275,000 square feet and repositioning of small shops closer to the anchors which include Sears, Belk, Macy’s, and JC Penney. In December 2011, Sears announced its plans to close the Macon Mall store in 2012.

Recreation Warehouse exited the market in 2011. Occupancy of the Macon Mall corridor increased to 70% in 2011 from 64% in 2010. This is partly due to the size adjustment of Macon Mall.  

West Macon Area

The Zebulon Road/I-475 section of the market continued to be the strongest retail section with occupancy at more than 97% compared to 92% in 2010.  The space west of I-475 is experiencing an increase in occupancy as landlords have become more aggressive with seeking qualified businesses.

The West Macon market also continued to be strong with 92% occupancy in 2011 compared to 88% in 2010.    

Sub-South Area

Occupancy in the Sub-South retail market remained stable at 91% in 2011 compared to 92.5% in 2010.  Plans are still in place for  a Publix anchored center to be built on the northwest corner of the I-75 and Hartley Bridge Road interchange.  Businesses that have joined the project early are McDonald’s, Zaxby’s and Waffle House.  Several other businesses are negotiating to go in the project including restaurants, a bank and a grocery store.  There have been no significant changes of the retail profile in the area.  The vacant space in the area’s small unanchored centers has been slow to lease which is a result of the economic slump and stagnation of residential growth in the area. 

Indicated vacancy rates for specific areas are summarized below: