Horses, Cattle, Pigs And A 240-Acre Mixed-Use Project in Georgia
Want to get a jump-start on upcoming deals? Meet the major Atlanta players at one of our upcoming events!
Former retail exec turned real estate tycoon Robin Loudermilk has become known for some high-profile projects: The Charles, the remade boutique office building in the former Aaron's Inc. headquarters at 309 East Paces, and the medical office building at 371 East Paces.
Next up: Agricultural Village.
The Loudermilk Cos. is embarking on a major mixed-use project in perhaps one of the least expected places in Georgia — the City of Perry, more than 100 miles south of Atlanta.
The 240-acre project, adjacent to the Georgia National Fairgrounds and Agricenter, will include a mix of retailers, a hotel, small office space and The Preserve at Agricultural Village, a 350-lot subdivision. Already, a Waffle House has been developed, as has Strippling's General Store, a 12K SF butcher shop that offers fresh meats, cheeses and condiments.
At a time when developers are focused on major metro areas for massive mixed-use developments, a project of this nature is an anomaly. But Loudermilk said the state-owned Agricenter is driving a tremendous amount of untapped demand for retail and residential in Perry. GNF is home to the Georgia National Fair, the Georgia National Junior Livestock Show and the Georgia National Rodeo, among other major agricultural-themed events.
The facility sees an average of 1 million visitors per year, Loudermilk said, and it is looking for restaurants and businesses focused on its interests, such as farming suppliers and outdoor equipment suppliers.
Loudermilk said the people who attend these events often have deep pockets.
“When people have these cow shows, there are people who show up with cows that are maybe half a million dollars a cow,” he said.
Agricultural Village does not have an estimated completion date, but Loudermilk purchased the land for the project in May.
Loudermilk is no stranger to Perry. Back in 2015, his firm purchased, and now is renovating, The New Perry Hotel there. His family owns and operates outdoor supply retailer Brannen Outfitters and two automotive dealerships, J. Brannen Automotive and Perry Ford, both in Perry.
Outside of Perry, Loudermilk's main focus is on Buckhead. Construction is underway on The Charles, a 57-unit luxury condo building that has pre-sold 18 units at an average price of $1.8M, Loudermilk said, as well as finishing the renovation of the former Aaron's Inc. headquarters into a boutique office project that just landed Industrious as a tenant.
All of these projects are in Buckhead Village, a place Loudermilk said looks like Midtown a decade ago, when residential first started sprouting there, creating what is Atlanta's truest 24-hour district.
“I feel that there's a huge opportunity here. I feel it's just the beginning,” he said. “[Residential] will put more feet on the street. More demand for restaurants.”