MORE TIDE COMING TO ATLANTA
Want to get a jump-start on upcoming deals? Meet the major Atlanta players at one of our upcoming events!
|Colliers International's Mike Neal spoke with us during last week?s ICSC Southeastern Conference at the Cobb Galleria about Tide's branded dry cleaning chain in Atlanta. Tide—whose franchiser is Proctor & Gamble—has two locations under construction, including Old Alabama Road and Keith Bridge Road in Suwanee, and another on Holcomb Bridge Road that opens this week. Mike says the company plans to open up to 15 locations in Atlanta but is ?meticulous,? seeking areas with a median income of $80k/year; it builds 3,000 SF stores with drive-thrus. (The irony being that it's often what you get at a drive-thru that gets on your shirt and forces you to go to a dry cleaner.)|
|We also met the sandwich guy, Jimmy Johns? Dan Albo, who told us the eatery was opening a store that very day in Suwanee, and another was opening this month in Snellville. It's part of a plan to open some 20 more Jimmy Johns in Atlanta by the end of 2013. (The world will always welcome lovers... and sandwich stores.)|
|During a retail developer panel at ICSC, Fuqua Development's Jeff Fuqua (shown here earlier showing off his Glenwood retail project) says the flood of capital into retail real estate is compressing core property cap rates, and that's forcing some investors to search for more risky stuff to buy. ?B product is looking like A product today," Jeff tells us. And Childress Klein's Chris Thomas says a lack of new retail development is having a lot of capital seek value-add plays. ?I know for the first time in my company… we're looking to get into the value-add business,? he says.|