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Colliers international mike neal tide icsc southeastern cobb galleria 2012
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.)
jimmy johns dan albo
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.)
jeff fuqua icsc cobb galleria capital compressing cap rates glenwood cobb galleria icsc
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.