Atlanta Restaurant Real Estate News
March 17, 2014
by Harold V. Shumacher
The next six to nine months may prove critical in determining if Atlanta is truly back from the economic woes of the past five years. Consider this, at least five major projects are slated to open between now and the end of the year featuring almost two dozen new restaurants: Ponce Market, Krog Street Market, 280 Elizabeth Street , Buckhead Atlanta and North Fulton’s Avalon. That is in addition to other smaller projects underway in Midtown, such as 12th & Midtown, and several grocery anchored centers throughout the metro area.
The restaurant concepts range from fast casual to fine dining and many boast well known Atlanta culinarians at the helm including Anne Quatrano, Ford Fry, Lindsey Hopkins and Shaun Doty.
What may be the saving grace for many of these places is the continuing trend toward the re-population of the central city, mainly by apartment dwelling millennials but joined by a fast growing cadre of baby boomers “right sizing” into larger condos and apartments. Add in the soon to be completed Trolley line linking the east and west sides of downtown Atlanta, new amenities at Centennial Olympic Park (the College Football Hall of Fame and the National Center for Civil & Human Rights) and in-town Atlanta may be on the precipice of some major changes.
This growth in restaurants is consistent with national trends. NPD Group, a leading industry research group reports that there are over 633,000 restaurants in the United States. While the increase was modest last year (only 1%) that’s still over 6,000 new eateries and a distinct improvement from a few years back when closings were outnumbering openings.
Several Atlanta area businesses and chefs were recently recognized for their successes. Zagat, best known for their restaurant guides, named Atlanta’s hottest coffee spots. Among the Winner’s Hodgewood Coffee, Octane, Empire State South, Dancing Goats, The General Muir, Café Intermezzo, Rev Coffee, Condessa Coffee and Sugar Shack.
The 2014 James Beard Foundation Restaurant and Chef Awards semifinalists include 11 nominees from the metro area. Winners will be announced in New York City in early May. Nominees include Outstanding Bar Program; Kimball House and The Porter Beer Bar. Outstanding Chef Anne Quatrano, Bacchanalia. Outstanding Restaurateur, Ford Fry (JCT Kitchen etc.) and Mike Klank and Eddie Hernandez, Taqueria del Sol. Outstanding service Bacchanalia and One Flew South. Best Chef, Southeast; Billy Allin, Cakes & Ale; Todd Ginsberg, The General Muir and Steven Satterfield, Miller Union. And finally, outstanding Wine Program 5 & 10 Athens.
Recent transactions for the Shumacher Group, Inc. include
Leases: Krispy Kreme (Stockbridge); Egg Harbor (Brookwood); Burger Fi & Tacos and Tequilla (Midtown.)
Sale of the following Businesses: Vincent’s Italian Restaurant (Marietta); The Drafting Table (Old Fourth Ward); Alfresco’s (Alpharetta) and The Pub (Snellville)