This Week on the Street “April 13, 2015”

by Steven Josovitz

Post image for This Week on the Street “April 13, 2015”

April 13, 2015

This Week on The Street (A more or less regular compilation of news, factoids and observations.)

BCDC Corridor set to Flourish

Timing is everything. Last week, following an ICSC Next Gen program about the BCDC (Brookhaven, Chamblee, Doraville Corridor) comes an announcement of a movie studio to anchor a major portion of Assembly (the new name for the former G.M. plant, in Doraville) being developed by the Integral Group.

An ambitious project, featuring a variety of inter-connected activity areas, the 160 acre site won’t be up and running until 2018, at the earliest,   but it’s already causing a stir in this neglected corridor.

Consider the following. Within a fifteen minute drive time there are over 500,000 residents, with rapidly increasing incomes, and a like number of daytime employees. Even if that’s casting a net too far afield, the reality is that this is one of the most crowded corridors in Atlanta without commensurate retail amenities.

Signs of change are already underway. MARTA (the Metropolitan Atlanta Rapid Transit Authority) has announced an RFP (request for proposal) for surplus land adjacent to the Brookhaven MARTA station. The long empty Harris Teeter/Kroger grocery store, at the Peachtree/Druid Hills intersection, will soon house a Total Wine and a Stein-Mart. Sembler’s Town Brookhaven has expanded it’s housing inventory while holding on to most of its major retailers. Small shop leasing remains problematic but changing economic conditions may help that endeavor.

New apartments are underway adjacent to the Oglethorpe campus, while further north an all but formalized Whole Foods anchored center, opposite Lowe’s, is about to kick off. Add to that the planned redevelopment of the former Great Gatsby’s antique store, at Johnson Ferry, and the long planned re-do of Chamblee Plaza and all of a sudden this corridor has new life. The key is dragging affluent Brookhaven residents further north, into Chamblee.

 

Is Uber the Savior of Crowded In-town parking lots?

It may still be anecdotal evidence but valet companies are reporting fewer drivers utilizing their services, especially at fashionable intown dining spots as Uber and Lyft become more prevalent. In fact, according to some industry observers (okay, us talking to people we know,) parking demand may be down as much as twenty percent. It will be interesting to note what the long term impact of this might be especially in crowded corridors like North Highland, around the Krog Street market, Midtown, West Midtown and Virginia-Highland.

Jay Swift is proving himself a good neighbor to Ponce Market. 4th and Swift, opposite the mega development is hosting a series of special dinners featuring Swift’s soon to be neighbors starting Tuesday April 21 and continuing through the spring. Featured restaurants will include Guy Wong’s Ton Ton; Anne Quatrano’s Dub’s Fish Camp, Sean Brock of Minero, Meherewan Irani, for an unnamed Indian Street food concept and Linton Hopkins, Hop’s Chicken.

Finally, Mom and Pop stores are beginning to flourish. Relegated to the back burner as big box retailers seemed to dominate the retail sector in recent years , smaller, specialty stores are showing a healthy revival. According to Chain Store Age magazine, there are three reasons for this: consumer’s thirst for artisanal and locally produced products; the value of exceptional customer service and desire for authenticity.

 

Recent Transactions for The Shumacher Group, Inc. include:

  • Sale of Midtown Tavern Gastro Pub & Grill, Atlanta
  • Sale of  The Painted Pig Tavern,  Historic Downtown Canton
  • Lease of  the former Taverna Florentina  in Vinings to Crispina Italian Restaurant & Pizzeria
  • Lease to Teriyaki 101 at the Athens Place Retail Development Epps Bridge Rd Athens 
  • Lease to Reclaimed by Demant , Abrams Building on Northside Drive, Atlanta
  • Relocation of the Roswell Farmers Market to The Crossing at Roswell Shopping Center
  • Sale of Mama 5 Sons Italian Grill, Jefferson
  • Lease of Hooters Canton to Friends American Grill
  • Lease space at Camp Creek Marketplace to TPK Wireless
  • Lease of adjacent space for Kaleidoscope Bistro & Pub Brookhaven

Recent Openings Include

  • Hooter’s Douglasville, Ga.
  • Verizon Gainesville, Ga.

 

Previous Listing:

Newer Listing: