Just left a great session at the Society of Entrepreneurs Round Table where Josh Poag shared insights on the POAG brand's journey - past, present, and future. It's a story underscored by resilience. As the driving force behind Memphis' prominent lifestyle center, SaddleCreek, POAG has weathered significant financial storms, including the 2008 recession, the 2016 retail downturn, and the challenges posed by Covid-19, emerging even stronger.
During the period from 2001 to 2016, POAG strategically acquired lifestyle centers and spearheaded developments across the Mid-South, such as Tanger Outlet, Highland Row, and even the new and improved Graceland. Despite facing hurdles with national brands amidst the retail downturn, the company adeptly shifted its focus towards local retailers and restaurants, with Char anchoring the Highland Row development and becoming a community staple.
In the midst of the COVID-19 pandemic, when conventional wisdom suggested that retail was facing its demise, POAG forged a partnership with JLL, the third-largest retail property management firm in the US. This collaboration not only enabled the company to sustain successful retail and lifestyle spaces but also facilitated the expansion of development initiatives and acquisition of robust assets nationwide. With the recent acquisition of Oakcourt Mall, POAG Development is poised to continue its legacy as one of the most resilient development firms in the region.
#Resilience #RealEstateDevelopment #RetailRevival #LifestyleCenters
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