When we snapped Garden Hills Shopping Center on Peachtree yesterday, that empty marquee made us nostalgic for the old Lefont Theater. The good news is it may become a movie house again. Film fans, thank the bad economy. (Though aren't $13 movie tickets what got us into this mess in the first place.) Brand Properties bought the strip center in 2007 for $7.5M with plans to redevelop as mixed-use with retail, residential, and office. The firm also wanted a Buckhead location for sister company, Brand Bank. Those plans tanked with the real estate market. Michael Hoath, president of Brand Properties, told us this morning he's negotiating with a firm that would open a single-screen theater. It's hard to make money on such an operation, so Hoath says he's trying to make the lease terms amenable enough so the potential tenant could make it work. |
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