David Gaule & Mandy Henderson represented Acadia Realty Trust (NYSE: AKR) on a new retail lease with Lululemon at 113–115 West Broughton Street in downtown Savannah, Georgia. The global athletic apparel brand will occupy 5,531 square feet across two high-profile storefronts, signing a multi-year lease on one of the most sought-after retail corridors in the Southeast. David Gaule and Mandy Henderson acted on behalf of the landlord throughout the transaction.

 

About Lululemon

Founded in Vancouver in 1998, Lululemon Athletica has grown into one of the most recognised athletic apparel brands in the world — operating more than 720 retail stores globally and employing upwards of 38,000 people. Forbes named the company its Retailer of the Year, a recognition that reflects both its revenue trajectory and the loyalty of its customer base.

 

Lululemon’s site selection strategy is deliberate. The brand targets high-footfall, affluent urban corridors where its core demographic — active, health-conscious, and higher-income — shops, lives, and works. An entry into West Broughton Street fits that profile precisely: the street draws a mix of local residents, SCAD students, corporate visitors, and a growing year-round tourist base that consistently outperforms most comparable secondary markets.

 

The two spaces at 113–115 West Broughton were previously occupied by MAC Cosmetics and Frankie & June, both premium-positioned retailers. Lululemon’s decision to take both units and combine them into a single flagship footprint signals confidence in the location’s long-term performance.

 

What This Deal Signals for Savannah’s Retail Market

For Savannah, this transaction is the latest data point in a broader story: the city’s retail fundamentals are strong, and national brands are taking notice.

 

Broughton Street has undergone a significant repositioning over the past decade. What was once a corridor of vacancies and discount retailers is now home to a concentration of national and premium brands — Warby Parker, Faherty, and now Lululemon — alongside strong local operators. Vacancy on the core Broughton block remains tight, and well-located, well-maintained space in this corridor is increasingly difficult to secure.

 

The lease term and square footage involved in this transaction reflect the kind of commitment that landlords on Broughton Street are now able to attract. A 5,500+ sq ft flagship from a globally recognised brand, on a multi-year term, represents genuine institutional-quality tenancy — the kind that stabilises rental income, underpins asset valuations, and signals to other prospective tenants that the market is healthy.

 

For landlords with retail assets in downtown Savannah, and for investors evaluating acquisitions in the submarket, this deal adds to the weight of evidence that Broughton Street retail is a fundamentally sound bet.

 

About the Property and Landlord

113–115 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 urban and street-retail locations across major US markets. Their presence on Broughton Street reflects the same thesis that has driven institutional capital into Savannah’s downtown retail core: limited new supply, strong and growing demand, and a customer base that performs well even in softer consumer environments.

 

Retail Leasing in Savannah — Talk to RIVR

RIVR RE specialises in retail leasing across Savannah’s downtown core, including Broughton Street, the Historic District, and emerging neighbourhood corridors. We represent both landlords seeking to optimise occupancy and tenant mix, and retailers and occupiers looking for the right location for their next store.

 

If you are a landlord with retail space to lease, or a brand exploring Savannah as your next market, contact David Gaule or Mandy Henderson directly.

 

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

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