Shopping Center Business

MAY 2016

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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JAZ DEVELOPMENT 326 • SHOPPING CENTER BUSINESS • May 2016 T he retail landscape is looking bright in South Carolina — from the coastal regions like Hilton Head to Charleston and Greenville. Since the company's inception in 2008, Jaz Development has made a name for it- self in the company's headquarters state of Georgia, but more prominently in the coastal regions of South Carolina. "I've been in the business since I got out of college at Georgia Tech," says David Oliver, president and founder of Jaz Development. " I went to work for a developer in Sandy Springs, Georgia, as a leasing agent when I first got out and I stayed there seven years. I then went to work for a company called Stafford Properties, and rose through the ranks to become their president and CEO. We started doing development of build to suit projects, which evolved into anchored retail, and for whatever reason we got involved down in the Bluffton/Hilton Head, South Carolina market." While coastal South Carolina was not Oliver's planned target initially, he quick- ly realized that the area was ripe with op- portunity for retail development. "It was interesting — when I was with my former partners, we just went down to look at a deal that was on Hilton Head Island, and it quickly became obvious that it was a viable redevelopment candidate," says Oliver. "That project took three years to permit, during which time I found myself down there fairly regularly — about once a month or so. I thought, if I was going to be down there that much, I should come up with some other projects to work on." During this period, the island started to experience a significant amount of in- frastructure development, which Oliver notes as a driving force behind the success of retail development in the area. "That's when the area off the island started really taking off," says Oliver. "They had recent- ly built a new bridge onto the south end of Hilton Head, and widened the main highway 278 in Bluffton to six lanes, and the big boxes just started coming." Under Oliver, Stafford developed pow- er centers, big box retail and several hotels in the Bluffton and Hilton Head markets before his departure in 2007. "When de- velopment shut down from the recession, nothing much happened down there in terms of new shopping center develop- ment," says Oliver. "I was still familiar with the area, so I kept my sights on op- portunities that would come along. At Jaz, we ended up with three really fine sites in Bluffton that had always been coveted." These sites have led to developments in the Bluffton and Hilton Head markets for Oliver today. One development currently underway by Jaz is Bluffton Gateway. "It's located at the corner of Highway 46 and Highway 278 — the bullseye of the retail corridor in Bluffton," says Oliver. Bluffton Gateway is home to a 185,000-square-foot Walmart Supercen- ter, a 140,000-square-foot Sam's Club and two outparcels. Set to open in December, the development sits on 66-acres on the main highway US 278 leading onto Hilton Head Island. Jaz Development recently broke ground on another nearby development in Bluff- ton. "It's about a quarter of a mile down the road from Bluffton Gateway," says Oliver. The tenant roster for the project, set to open in late 2016, includes Hobby Lobby, The PGA Tour Superstore, The Fresh Market, Aspen Dental, and Sleep Number. Coastal Carolina Success Jaz Development, led by President David Oliver, sees success in coastal South Carolina. Katie Sloan Jaz is underway with a new project in Bluffton, South Carolina, that will be anchored by The Fresh Market and Hobby Lobby. Jaz Development is developing Bluffton Gateway, a 185,000-square-foot Walmart-anchored center in Bluffton, South Carolina.

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