LAGRANGE, GA (January 9, 2016) – Hull Property Group announced the addition of Hobby Lobby and Dunham’s Sports to the LaGrange Mall. The announcement comes a year after Mall owners and local leaders finalized a development agreement to create a Tax Allocation District (TAD) to help further development of the property.
“The addition of Hobby Lobby and Dunham’s Sports would not have happened without the support and visionary leadership of Mayor Jim Thornton, the City Council, and especially Economic Development Director Mike Criddle, who took the lead on this project. Troup County Manager Tod Tentler and Troup County School Superintendent Cole Pugh and their respective boards were also instrumental in getting us here today,” said Jim Hull, Managing Principal of Hull property Group. “We have worked closely together to attract quality tenants to the Mall and surrounding retail node in pursuit of developing a first class shopping corridor here in LaGrange. With the recent addition of Aspen Dental and Firehouse Subs and today’s announcement of the new Hobby Lobby and Dunham’s Sports, will come a virtuous cycle of retailers and restaurateurs wanting to co-locate at the Mall and within this prominent retail area.”
Dunham’s Sports, one of the nation’s largest retail sporting good chains, will occupy approximately 52,000 sf in the anchor space formerly occupied by JC Penney. The Dunham’s Sports store features both interior and exterior mall entrances and will offer a full line of traditional sporting goods and athletic equipment as well as a variety of active and casual sports apparel and footwear. Hobby Lobby, the world’s largest privately owned arts and crafts retailer, will occupy 55,000 sf and will be constructed adjacent to the new Dunham’s Sports.
“The goal of the TAD was to further retail recruitment, and we have been successful in making LaGrange an attractive market for big name stores. We share a vision with Hull Property Group to create a first class retail corridor with new retail and restaurant options that will excite the community, and I am thrilled to welcome Hobby Lobby and Dunham’s Sports. These projects will benefit the community by retaining sales tax revenue in our county, and we are also creating a retail critical mass that will attract other retailers and restaurants in the years to come as LaGrange and Troup County continue to grow and prosper,” said Mayor Jim Thornton.
The LaGrange Mall TAD #5 went into effect January, 1 2016 and created a baseline property tax value for the Mall at its current rate. All costs associated with development including the upcoming buildout of Hobby Lobby and Dunham’s, the addition of the dual tenant outparcel for Aspen Dental and the recent clearing of the former Ryan’s parcel are borne by Mall owners who anticipate an initial Phase I investment of over $10 million dollars.
“Both Hobby Lobby and Dunham’s Sports are strong national retailers and we are thrilled for these stores to join the LaGrange Mall. We have been disciplined in our approach to attract only the right tenant to the property in order to continue to develop the Mall as a powerful retail and restaurant center. We have been working closely with local leadership for over a year to bring these popular stores to LaGrange and we are excited for what this partnership can accomplish in the future,” said Ky Widener, Senior Vice President of Leasing.
About Hull Property Group
Hull Property Group is a multifaceted retail real estate acquisition, management and development company headquartered in Augusta, Georgia. Established in 1977, Hull Property Group is one of the largest privately owned retail real estate companies in the United States and has an owned portfolio in excess of 15 million square feet across 13 states. Hull Property Group has a consistent record of property redevelopment and improvement as well as a demonstrated commitment to building strong community relationships to foster economic development.