Poag Development Group

What Poag Development Group does

Poag Shopping Centers (formerly Poag Development Group) is a privately held boutique retail real estate company headquartered in Memphis, Tennessee, founded in 1985. The firm specializes in the management, marketing, operations, redevelopment, and selective development of open-air shopping centers, lifestyle centers, enclosed malls, and mixed-use destinations, and is credited as the original creator of the Lifestyle Center format. The company manages a multi-state portfolio across Connecticut, Michigan, Illinois, Pennsylvania, Colorado, California, Tennessee, and Nebraska, with named properties including The Shops at Somerset Square (CT), Oak Court Mall (TN), and RiverTown Crossings (MI).

The company operates a full-service platform combining hands-on property management, strategic merchandising, tenant coordination, and community-centered placemaking. Its active development pipeline includes Avenue One, a landmark mixed-use destination under construction along the Dodge Expressway in West Omaha, Nebraska, which signed L.L.Bean to a 15,000 square foot lease in May 2026. The portfolio blends national retail brands with emerging and local retailers, positioning the firm as an experience-driven operator rather than a pure landlord.

Poag's revenue model is built on managed services fees for property management and leasing, with pricing negotiated directly with property owners, investors, and municipalities rather than publicly disclosed. Customer segments span large national retail chains and growing local retailers, served through direct enterprise relationships. In April 2026, the company rebranded from Poag Development Group back to the legacy Poag Shopping Centers name, citing its expanded full-service platform and growing management portfolio.

Name

Poag Development Group

Legal name

Poag Shopping Centers

Website

https://poagdevelopmentgroup.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Poag Shopping Centers (formerly Poag Development Group) is a Memphis-based boutique retail real estate firm managing and selectively developing open-air shopping centers, lifestyle centers, malls, and mixed-use destinations across multiple U.S. states for property owners, investors, and municipalities.

Ownership category

akta.pro rank

Headquarters

HQ city

Memphis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Supply Chain, Others

Revenue model

1. Property Management & Leasing: Revenue is generated through the management of open-air shopping centers, malls, and mixed-use destinations. The company earns fees for hands-on property management, marketing, operations, and tenant coordination services provided to property owners and investors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Poag Development Group (now operating as Poag Shopping Centers) is a boutique retail real estate company that manages, markets, operates, redevelops, and selectively develops open-air shopping centers, lifestyle centers, enclosed malls, and mixed-use destinations. The company delivers full-service property management, tenant coordination, and strategic merchandising to property owners, investors, and municipalities across multiple U.S. states. It claims to be the original creator of the Lifestyle Center format with more than 40 years of experience in retail real estate.

Product overview

Poag Shopping Centers (formerly Poag Development Group) is a boutique retail real estate company offering a unified full-service platform for open-air shopping centers, lifestyle centers, enclosed malls, and mixed-use destinations. The company provides integrated management, marketing, operations, redevelopment, and selective development services through a hands-on approach. Its portfolio includes featured managed properties (The Shops at Somerset Square, Oak Court Mall, RiverTown Crossings) and past development projects (The Promenade Shops at various locations). The company pioneered the Lifestyle Center format and operates with a focus on strategic merchandising and community-centered placemaking.

Differentiator

Problem solved

Functional benefit

Products and services

• Open-Air Shopping Center Management Full-service management, marketing, operations, and strategic merchandising for open-air shopping centers and lifestyle centers, including day-to-day operations, tenant coordination, and community-centered placemaking for property owners, investors, and municipalities.
• Mixed-Use Destination Development Selective development and redevelopment of mixed-use destinations that blend national brands with emerging and local retailers, creating experience-driven retail environments for municipalities, investors, and property owners.
• Mall Management Services Management and operational services for enclosed mall properties, including tenant coordination, marketing, and asset value enhancement delivered to mall owners and investors.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Property Owners and InvestorscoreStrategic or Co-development PartnerPoag Shopping Centers partners with property owners and investors to manage, redevelop, and selectively develop open-air shopping centers, malls, and mixed-use destinations. These partnerships involve hands-on operations, strategic merchandising, and community-centered placemaking to deliver property performance and long-term value.
• MunicipalitiescoreStrategic or Co-development PartnerThe company works with municipalities to develop and manage retail destinations that support thriving communities. These partnerships involve strategic development planning that aligns with community needs and long-term municipal goals.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Tanger Inc. Public REIT specializing in outlet and open-air shopping centers. Comparable retail real estate management focus, particularly in experience-driven and lifestyle-oriented formats where Poag also operates.
• WS Development: Private retail real estate developer specializing in open-air lifestyle centers and mixed-use destinations. The closest direct comparable to Poag in terms of boutique private operation, lifestyle center expertise, and experience-driven placemaking approach.

Broad incumbents

• Brixmor Property Group: Public REIT owning and operating open-air shopping centers across the US. Comparable open-air shopping center portfolio and tenant mix, though at significantly larger scale than Poag.
• Phillips Edison & Company: Public REIT specializing in grocery-anchored open-air shopping centers. Comparable open-air shopping center management and leasing business model.
• Macerich: Public REIT focused on retail real estate, including open-air centers and enclosed malls in major US markets. Comparable in mall management exposure (similar to Oak Court Mall) and mixed-use development.
• Regency Centers Corporation: Public REIT focused on grocery-anchored open-air shopping centers with a national footprint. Comparable to Poag's open-air and lifestyle center management business model and tenant mix.
• Brookfield Property Partners: Global real estate investor with significant US retail real estate holdings including malls and lifestyle centers. Comparable in managing large mixed-use retail portfolios, though at much greater scale and with institutional capital.
• Federal Realty Investment Trust: Large publicly-traded REIT specializing in open-air shopping centers and mixed-use destinations. Federal Realty is the most direct comparable to Poag's lifestyle center focus, though at vastly greater scale and with permanent REIT capital.
• Simon Property Group: Largest US REIT, operating premium outlet centers, lifestyle centers (The Mills), and enclosed malls. Comparable in lifestyle center format (which Poag pioneered) and mall management exposure (Oak Court Mall).
• Kimco Realty: Largest publicly-traded shopping center REIT in the US, owning and operating open-air shopping centers. Highly comparable business model to Poag's property management operations but at institutional scale.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/poagllc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Poag Development Group