Starship and Five Below Expand Augusta's Retail Landscape

Augusta’s retail market stabilized in the second quarter of 2025, presenting a backdrop for significant new business growth and redevelopment projects. The city welcomed the 80th Starship store nationwide in December 2025, signaling a major expansion by the adult retail chain. Meanwhile, Five Below is opening a new location at Colony Plaza in south Augusta, injecting new energy into the shopping complex near Planet Fitness and Roses, local landmarks of community commerce[2][3].

Steady Market Conditions Amid Growing Retail Options

Vacancy rates in Augusta’s retail sector hovered at 4.8% in Q2 2025, a modest increase of 0.8% from the prior year, reflecting both the arrival of 220,000 square feet of new retail space and a negative net absorption of 120,000 square feet[1]. Market rents averaged $17.10 per square foot, marking a 3.1% year-over-year rise that surpasses the national average rent growth of 1.7%[1]. This steady increase in rents suggests rising demand and a willingness among retailers to invest in Augusta’s evolving market.

Strip centers, a key retail subtype, remain the tightest segment with an exceptionally low vacancy rate of 1.9%, while neighborhood centers face higher challenges, recording a 9.1% vacancy rate[1]. These figures indicate localized strengths and weaknesses, guiding entrepreneurs and developers in their expansion decisions.

Local Development and Retail Leadership

At the heart of Augusta’s commercial resurgence is the ambitious $200 million redevelopment of the former Regency Mall site. This project proposes a vibrant mixed-use environment, featuring 196,000 square feet of commercial space, 1,000 multi-family residential units, and a new school, though no completion date has been announced[4]. This large-scale development aims to redefine the retail and residential landscape in downtown Augusta and is expected to attract a diverse range of retailers and residents.

Within this context, Starship’s entry into Augusta has drawn attention as a retail pioneer, contributing to increased consumer choice. The chain’s 80th store opening in the city cements Augusta’s importance on Starship’s national growth strategy[2]. Likewise, Five Below’s announcement to debut a new outlet at Colony Plaza, a shopping complex anchored by Planet Fitness and Roses, is a strategic boost for south Augusta retail[3]. This shopping hub is now poised for renewed foot traffic and consumer engagement, benefiting from the introduction of an affordable specialty retailer targeting younger demographics.

Local retail operations such as these illustrate the dynamism among business leaders who have recognized Augusta’s potential amid shifting retail preferences and demographic growth. These entrepreneurs and major chains alike are positioning themselves to address evolving demands in both product offering and shopping experience.

Retail spaces under construction total approximately 120,000 square feet, representing moderate development activity slightly below the decade average. This steady pace allows for continued adaptation without overwhelming the market[1]. Notably, new developments around Augusta’s gateway include national brands like Costco and Cabela's, further complemented by local entrants such as Dave's Hot Chicken and MOD Pizza in the Augusta Exchange area, highlighting a mix of retail and dining options expanding the city’s appeal[1].

Outlook and Advice for Local Retailers

As Augusta continues to balance growth with stability, local entrepreneurs and retailers should keep focused on market trends: low vacancy in strip centers offers prime retail real estate, but neighborhoods with higher vacancy rates may provide opportunities for reinvention and innovation[1]. Aligning with mixed-use developments such as the Regency Mall project could provide synergies between residential needs and retail supply.

Meanwhile, new retail entrants like Starship and Five Below demonstrate that Augusta is receptive to a range of business models, from specialty adult retail to discount variety stores. Local entrepreneurs might consider partnerships or emulation of such market-tested concepts while maintaining local identity and customer focus.

With market rents trending upward faster than the national average and moderate construction activity, now is a critical period for retailers to evaluate expansion or relocation strategies. Keeping an eye on consumer preferences in established shopping centers and mixed-use hubs will be essential to capture Augusta’s retail momentum in the years ahead.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.