David Gaule & Mandy Henderson have represented Acadia Realty Trust (NYSE: AKR) on a new retail lease with Warby Parker at 226 West Broughton Street in downtown Savannah, Georgia. The leading direct-to-consumer eyewear brand opened its doors on April 6, 2024 — marking Warby Parker’s first retail store in Savannah and its ninth location in Georgia. David Gaule and Mandy Henderson of RIVR acted on behalf of the landlord throughout the transaction.

The 226 West Broughton Street store sits between Barnard Street and Jefferson Street, directly adjacent to H&M and Maple Street Biscuit Company — one of the highest-footfall blocks on Broughton Street’s core retail corridor.

About Warby Parker

Founded in New York in 2010, Warby Parker is one of America’s most recognised direct-to-consumer lifestyle brands, built on a mission to make premium eyewear accessible without charging a premium price. Operating more than 240 retail stores across the United States and Canada, Warby Parker offers designer-quality prescription glasses from $95, sunglasses, contact lenses, and in-store eye exams — all under one roof.

The brand’s site selection process is highly deliberate. Warby Parker targets high-street retail corridors in markets with an educated, style-conscious, and higher-income customer base — the same demographic that Broughton Street has consistently attracted as its national retail repositioning has matured. The Savannah opening is the brand’s first in the market, reflecting a considered decision that the city’s visitor economy, growing residential base, and improving retail fundamentals now justify a permanent bricks-and-mortar presence.

The 226 West Broughton Street store features a full assortment of optical and sun eyewear, comprehensive eye exams provided by an independent optometrist, and a bespoke interior design — including a ceiling installation by Georgia-based artist George F. Baker III featuring iconic Savannah imagery. Warby Parker’s practice of commissioning local artists for its store interiors is a deliberate brand statement: the company positions itself as part of the local community, not just a national chain occupying a retail address.

What Warby Parker’s Arrival Signals for Broughton Street

Warby Parker does not open stores speculatively. The brand’s expansion strategy is methodical — new markets are selected based on demonstrated demand, strong co-tenancy, and retail corridor performance data. Their decision to open on Broughton Street, at a property owned by one of the most sophisticated street-retail REITs in the country, is a meaningful endorsement of the corridor’s trajectory.

Broughton Street’s rental rates tell the same story. Average rental rates on the core block have risen to approximately $49 per square foot — $10 higher than in 2020 — driven by sustained demand from national brands seeking their first Savannah foothold. The street’s tenant mix now includes Warby Parker, Lululemon, Faherty, and a growing roster of premium national and local operators, all of which reinforce each other’s performance through the gravitational pull of co-tenancy.

For landlords with retail assets on or adjacent to Broughton Street, the arrival of Warby Parker is further evidence that the corridor’s fundamentals — limited supply, high foot traffic, growing visitor economy, improving demographics — continue to support premium retail valuations and the ability to attract nationally recognised tenants on multi-year terms.

About Acadia Realty Trust and 226 West Broughton Street

226 West Broughton Street is owned by Acadia Realty Trust, an equity REIT headquartered in New York and listed on the NYSE (AKR). Acadia’s portfolio is concentrated in high-barrier-to-entry, street-retail locations in major US urban markets — and their Broughton Street holdings represent one of the most strategically assembled positions on the corridor.

David Gaule & Mandy Henderson have represented Acadia Realty Trust as landlord across multiple transactions on West Broughton Street, including the Warby Parker lease at 226 and the Lululemon lease at 113–115 West Broughton. That repeat mandate reflects the depth of their understanding of the Acadia portfolio, the Broughton Street submarket, and the tenant relationships required to place nationally recognised brands in high-profile retail locations.

Retail Leasing on Broughton Street — Talk to RIVR

RIVR RE specialises in retail leasing across Savannah’s Broughton Street corridor and Historic District, with a track record of placing nationally recognised brands in premium locations on behalf of institutional landlords. If you own retail space on Broughton Street or in downtown Savannah and are looking to lease or re-let, contact David Gaule or Mandy Henderson directly.

Email: info@rivr.re | Phone: 912 307 9998

→ Learn more about RIVR’s retail leasing services → View all RIVR transaction announcements