Category: Retail

May17
2019
Posted by
Marketing Staff

Ackerman Retail is leasing exceptional ground-level retail space at 120 Piedmont Avenue, a prominent downtown Atlanta location.

We are offering up to 3,930 SF at the 26-story Georgia State University student housing and retail project dubbed “The Mix,” which is also home to a 4,000 SF RaceTrac. The soon-to-open store will be the first Racetrac of its kind in a mixed-use development when it opens this summer.

Ackerman Executive Vice President Courtney Brumbelow is representing the landlord in leasing the retail spaces. The ground-floor retail units will see plenty of foot traffic from students residing at The Mix (which will house up to 650 students), as well as from the approximately 2,000 students at four other Georgia State apartment buildings located across the street at University Commons.

Located at the corner of Piedmont and John Wesley Dobbs avenues, The Mix will offer students upscale amenities such as a resort-style pool, poolside cabanas, a fitness center, a dog park and yoga room. The RaceTrac will feature the store’s popular offerings such as a frozen yogurt station and coffee bar.

Apr26
2019
Posted by
Marketing Staff

PRIMO HOAGIES SANDY SPRINGS—FIRST IN GEORGIA—TO OPEN MAY 16

Primo Hoagies, a restaurant set to open in Sandy Springs on Thursday May 16, specializes in a sandwich that originated in South Philadelphia.

Can you guess the name of this famous sandwich?

Of course, it’s the Philly cheesesteak! Primo Hoagies, a New Jersey-based franchise, will offer that popular sandwich along with six varieties of its signature Italian hoagie at its first metro Atlanta location at Perimeter Town Center, a mixed-use center redeveloped and managed by Ackerman & Co.

Courtney Brumbelow, executive vice president for Ackerman Retail, completed a 1,750 SF long-term lease with franchisee Brian Ottaviano at the center earlier this year.

Brian has been busy attending to the many construction details at the space for the past several months. A Philadelphia native, Brian is excited to bring the restaurant’s gourmet hoagies so popular in Philly and South Jersey to the Southeast U.S.

“What differentiates Primo Hoagies is the quality of the ingredients and the master bakers who make our rolls on-site throughout the day,” Brian said. “We’re very proud of our hoagies and how they’re made, and now we get to share these sandwiches with the people of Atlanta.”

Although the cheesesteak sandwich is synonymous with the city that created it, don’t expect the walls of the Sandy Springs establishment to be covered with pictures the Philadelphia skyline or the city’s sports teams.

“I plan to embed myself in the community of Sandy Springs,” said Brian, who moved to Atlanta after attending Georgia Tech. “This is Atlanta’s restaurant.”

Founded in 1992, Primo Hoagies now operates nearly 100 locations across the East Coast, including as far south as South Carolina, Florida – and now Georgia.

Primo Hoagies is celebrating its first day at the restaurant chain’s first Atlanta-area location by giving free hoagies to the first 100 guests Thursday. Check out the Ackerman Retail Twitter and Instagram channels for additional details.

Mar6
2019
Posted by
Marketing Staff

Sean Patrick Closes 100% Leased Retail Center in Kenner, La., for $5,650,000

Ackerman Retail has closed its first retail center sale in Louisiana!  Ackerman Retail Senior Vice President Sean Patrick and Southeast Commercial’s Monte Luffey represented BGHA Kenner LLC in the sale of the retail center at 2240 Veterans Memorial Boulevard in Kenner, La., 12 miles west of downtown New Orleans, for $5,650,000 ($759 PSF) at a cap rate of 6.5%.

The 7,440-square-foot retail center is located adjacent to New Orleans International Airport at the busy intersection of Veterans Memorial Boulevard and Williams Boulevard in a dense retail corridor that includes The Home Depot, Walmart, Best Buy, Academy Sports and Starbucks.

The retail center – 100% leased to Dunkin’ Donuts, AT&T and Aspen Dental – was purchased by a private investor based in Baton Rouge, La.

For more information on this sale or available listings, contact:

     Sean Patrick  |  770.913.3946
     spatrick@ackermanco.net

 

Ackerman & Co. Investor Conference 2019: What Next?

Feb12
2019
Posted by
Marketing Staff

The combination of job growth and the surge in GDP during the long-running economic recovery has been a boon to the commercial real estate sector.

In Atlanta and across the country, there has been continued strong demand and absorption for virtually all product types, and capital has been readily available for investment.

But will the good times continue? What next?

That was the focus of Ackerman & Co.’s recently held 12th Annual Investor Conference, attended by some 150 guests, including owners, operators, investors and brokers.

Host Kris Miller and keynote speaker David Haddow weighed in with their perspective on current economic trends and their outlook for the commercial real estate sector. Joining them with in-depth discussions of investment opportunities for specific product types were F. Keene Miller (Brokerage), Leo Wiener (Retail), Brett Buckner (Industrial) and Evan Ziegler (Investments).

“After the last two years of success, growth and prosperity, the numbers would suggest that the future of commercial real estate has never been brighter. Yet each of us feels less certain than we did two years ago. Why? Is that how we should feel?” asked Kris Miller.

There are causes for concern, said David Haddow. Current economic soft spots, he said, include the rising national debt (now at $21.6 trillion, an increase of $10 trillion since 2008), government gridlock, fast-rising home prices and diminishing consumer confidence. Combined with those issues, the length of the current cycle (nearly 10 years) makes an economic correction more likely in the next 24 months, Kris added.

How should investors respond? Here are the three biggest takeaways provided by Kris and his Ackerman & Co. colleagues:

  • Stay on the field.

  • Focus on the specific strengths and weaknesses of each deal – rather than macro conditions across property types or markets.

  • Adopt a bias toward selling.

The annual conference also provided guests an opportunity to learn about Ackerman & Co.’s 2018 business highlights as well as its goals for the coming year.

Last year’s highlights included Ackerman’s $70-million sale of Braselton Logistics Center to Uline Inc.; the $9.75-million acquisition of the four-building Warren Drive industrial portfolio in Atlanta; the completion of the 181-key Crowne Plaza Hotel in North Augusta; and the $15-million disposition of seven industrial buildings at Stone Mountain Industrial Park, to name a few.

Kris and the team thank everyone for attending despite the rare winter-weather advisory in Atlanta!

Mercedes-Benz Stadium: A Major Impact on Atlanta Beyond Super Bowl LIII

Jan31
2019
Posted by
Marketing Staff

 

This weekend, Atlanta’s $1.6-billion Mercedes-Benz Stadium will host its biggest event to date – Super Bowl LIII.

The game will be viewed by 150-million-plus people worldwide and the full slate of events held across the city of Atlanta during Super Bowl week will pour an estimated $185 million into local hotels, restaurants, retailers and other businesses.

But the impact of this stadium – praised as “one of the most beautifully designed stadiums on the planet” by Architectural Digest – will extend far beyond the Super Bowl and other games, concerts and events held there.

Arthur Blank, owner the Atlanta Falcons and Atlanta United, has stated: “the city is on fire” economically, and his goal is for the stadium to help Westside communities around the stadium share in that success.

 

Here’s a rundown of some of the key developments and initiatives taking shape near the stadium:

John F. Kennedy Park just west of the stadium is undergoing a $2-million renovation as part of the Atlanta Super Bowl Host Committee’s Legacy 53 initiative to create a lasting impact beyond the game itself. The improvements will include an artificial turf playing field, a community walking path, new playground equipment and a basketball court.

The Home Depot Backyard, 11-acres of multi-use greenspace created on the site of the former Georgia Dome, serves as a large tailgating space on game days and a community park the rest of the year. The “backyard” offers a destination playground, a 3-tier pavilion, and a large central lawn for soccer games, movie nights, farmers markets and more.

A 1,000-room Signia Hilton, a new upscale hotel brand from Hilton Worldwide, will serve the adjacent Georgia World Congress Center and a growing entertainment district in the area that includes Mercedes-Benz Stadium.

Rodney Cook Sr. Park, a new $45-million, 16-acre park under development in the Vine City neighborhood, will feature a great lawn, public performance space and 18 monuments to civil rights and community leaders.

Westside Works is a long-term initiative focused on creating employment opportunities for residents of Westside communities and provides access to skills training, job readiness programs and more.

Reverb by Hard Rock, an 11-floor boutique a few blocks south of the stadium, will feature 200 rooms and a rooftop bar. Expected to open in 2020, the hotel is a new spinoff of the Hard Rock Hotel brand.

The 104-key Clarion Inn & Suites, completed in spring 2018 and situated in walking distance to the stadium, marked the first hotel opening in years on Atlanta’s Westside.

Jan11
2019
Posted by
Marketing Staff

Bryan Davis Represents Gocha’s Breakfast Bar in First Atlanta Restaurant Opening

We are excited to announce the opening of a new restaurant in South Atlanta. Bryan Davis, vice president of retail services for Ackerman Retail, recently represented Gocha Hawkins in leasing space for her new fast-casual restaurant-concept, Gocha’s Breakfast Bar.

Gocha Hawkins is a salon owner and award-winning hairstylist to a number of TV and music personalities including famed Real Housewives of Atlanta. Her new 2,000-square-foot restaurant offers a contemporary twist to Southern classics for breakfast and lunch. It’s located at the Cascade Crossing Shopping Center off of Cascade Road. The restaurant opened its doors earlier this month, for both breakfast and lunch.

“It was a pleasure to help my client realize a dream of opening her first restaurant. This new entry to the dining scene complements the existing development growth in the Cascade area of South Atlanta,” said Bryan.

Please don’t hesitate to reach out to Bryan for all your restaurant and real estate entertainment needs.

Bryan Davis  |  770.913.3996  
bdavis@ackermanco.net

 

Kelly Wilson – More than Retail!

Nov9
2018
Posted by
Marketing Staff

Our Retail division is excited to introduce Kelly Wilson to the team.

Kelly, one of the top retail brokers in metro Atlanta, recently joined Ackerman Retail as a senior vice president. She will focus on third-party leasing as part of a Landlord Representation team that includes Executive Vice President Courtney Brumbelow.

“Kelly brings a unique mix of expertise, including landlord and tenant representation in combination with her experience in restaurant ownership and franchise development,” said Leo Wiener, president of Ackerman Retail. “We’re thrilled to add Kelly to our team.”

She started her commercial real estate career in the restaurant sector, owning and operating several businesses before becoming a franchise director for Blimpie Subs and Sandwiches and later Raving Brands (Moe’s Southwest Grill, Doc Green’s, Shane’s Rib Shack, Flying Biscuit Café and more).

This experience expanded Kelly’s involvement in commercial real estate and site selection, ultimately leading to her current focus – retail leasing.

Most recently, she launched the third-party landlord representation platform at The Windsor Realty Group.

Among her current exclusive leasing assignments is Marietta Square Market Food Hall – which she has 100% pre-leased. The highly anticipated food hall is scheduled to open in early 2019.

Kelly’s talents extend beyond commercial real estate.

Her extensive musical theatre resume includes performances in touring Broadway plays such as South Pacific (with Robert Goulet), Theater of the Stars at The Fox Theatre and 1940’s Radio Hour at Theatre in the Square in Marietta, Ga.

Kelly has also been the lead singer in a variety of country and rock ‘n roll cover bands, singing songs by the likes of Journey and Melissa Etheridge.

Commercial Real Estate Outlook 2018: Annual Investor Conference

Feb12
2018
Posted by
Marketing Staff

“Supply and demand has never been in better balance,” Kris Miller told the more than 100 guests at Ackerman & Co. 11th Investor Conference, recently held in Atlanta.

He added that the ongoing strong demand for product – and lack of overbuilding in sectors such as office during this cycle – puts Atlanta in position to be a leading market for investors in 2018 and beyond.

The company’s annual Investor Conference is an opportunity for Ackerman & Co. to provide perspective on trends in commercial real estate and for guests to network with leading owners, operators, investors and capital sources.

Conference themes are sometimes broad in scope but this year the focus was squarely on the Atlanta market as Kris Miller addressed the question:  Atlanta – the Next Gateway Market?

Atlanta lacks the land constraints, barriers to entry or “24/7” attributes of established gateway cities such as New York, Chicago, San Francisco and Boston. Yet, Miller added, Atlanta’s diversified economy, success at attracting corporate relocations and growth as an entertainment hub are bringing it closer to the status of a gateway market.

Together with his partner F. Keene Miller (President, Brokerage) and Leo Wiener (President, Retail), Brett Buckner (SVP, Industrial), John Willig (Principal) and Evan Ziegler (SVP, Investment), the speakers offered insights into the investment climate in the office, industrial, retail and medical office sectors.

Some highlights from this year’s conference:

  • Economic drivers including the 2017 tax plan and the easing of numerous regulations are likely to free up money for capital investment and boost demand for CRE space.
  • The continued strong performance of the Atlanta industrial sector – which posted 19.9 million square feet of absorption in 2017 and is experiencing historically low vacancy levels – puts Atlanta’s growth potential ahead of the top 4 industrial markets (New York/New Jersey, Los Angeles, Chicago, Dallas).
  • Fundamentals weakened slightly in the office sector in 2017, but there are still excellent investment opportunities for the right property in the right location across Atlanta’s office submarkets.
  • Although the retail sector is out of favor amid store closings, “brick and mortar is not dead” and good retail product is available but at high cap rates.
  • Strong demographics continue to fuel investment in medical office space, as does the heightened demand for “convenience” medical space located near retail.

Kris and the team enjoyed hosting the conference and look forward to seeing everyone again next year!

Gwinnett: Atlanta’s Rising Economic Star

Sep8
2017
Posted by
Marketing Department

Gwinnett is on Fire - Ackerman & Co.

Did you know that 51% of all restaurants in metro Atlanta’s Gwinnett County are international? The county is a culinary hotspot for foodies seeking everything from Korean barbeque to Indian street food.

The qualities that have produced this vibrant food scene – ethnic diversity, strong population growth, a pro-business climate – also have contributed to Gwinnett County’s emergence as one of metro Atlanta’s most important business hubs.

As the chair of the Gwinnett Place Community Improvement District (CID) board of directors, Ackerman & Co.’s Leo Wiener has first-hand experience working on a variety of initiatives aimed at boosting Gwinnett’s ability to attract business. He’s been pleased to witness Gwinnett’s ongoing economic growth – in particular, the county’s success recruiting company headquarters.

Leo, who is President of Ackerman Retail, is featured in a GeorgiaTrend magazine article focused on this very subject. The steady flow of HQ relocations to Gwinnett County in recent years has certainly been impressive and the article notes that this trend shows no sign of abating.

One of the biggest HQ announcements in the past year was Boehringer Ingelheim’s decision to move its North American animal health pharmaceutical headquarters from St. Joseph, Mo., to Duluth.

“Having a multi-billion dollar international company such as Boehringer Ingelheim locate their U.S. headquarters in Gwinnett, and specifically within the Gwinnett Place CID, demonstrates that the area’s strategic location, its strong infrastructure and talent assets are clear benefits to business enterprises as they consider site selection,” Leo told the magazine.

AmerisourceBergen, Level 3 Communications, Crawford & Company, M&I Materials, Trenton Systems and Shuma Sports also have picked Gwinnett for HQ locations.

With major infrastructure improvements planned to accommodate additional economic development and mixed-use projects under way (including a redevelopment of Infinite Energy Center) that will enhance the county’s urban amenities, Gwinnett is clearly primed for more population growth and economic prosperity. As the GeorgiaTrend article summed up, these sorts of projects are “just the thing to attract employees needed to keep the jobs engine humming across this bigger-is-better county.”

Mercedes-Benz Stadium a Win for Atlanta Economy

Aug24
2017
Posted by
Marketing Staff

New Atlanta Stadium

Atlanta attracted an impressive 52 million visitors in 2016. Many of them headed downtown to one or more of the city’s elite attractions – the Georgia Aquarium, Center for Civil and Human Rights, the College Football Hall of Fame, the Martin Luther King Jr. National Historic Site, the World of Coca-Cola, the CNN Center.

Now comes Mercedes-Benz Stadium, the home of both the Atlanta Falcons NFL squad and the city’s new MLS team, the Atlanta United FC. The $1.5-billion multi-use facility will host its first game this Saturday when the Falcons play the Arizona Cardinals.

The stadium is already receiving accolades for its innovative design and amenities. While Mercedes-Benz Stadium will no doubt wow sports fans with one-of-a-kind features such as the world’s largest 360-degree halo video screen, even more important for Atlanta is the impact this huge project will have on the local economy.

The stadium has already been booked for some of the sporting world’s biggest events, including this season’s College Football Playoff National Championship, the 2019 Super Bowl and the 2020 NCAA Men’s Final Four. Visitors from all parts of the U.S., as well as international travelers, will converge on Atlanta to attend these events.

“The opening of Mercedes-Benz Stadium is a very exciting moment for the city of Atlanta. It will raise Atlanta’s image by bringing more high-profile events to the city, and these events will be great for the city’s economy, generating income for area hotels, restaurants and shops,” said Kris Miller, President of Ackerman & Co. “The new stadium also complements the other major venues near the stadium, like the Georgia World Congress Center, which hosts one million-plus visitors each year.”

In addition to these economic benefits, major commercial real estate projects are in the works near the stadium: GWCC has proposed building an 800-room hotel on the former site of the Georgia Dome (which will be demolished this fall) and a 220-room Hard Rock Hotel is expected to open before Atlanta hosts the 2019 Super Bowl.

So, to be sure – Atlanta has plenty to be excited about as it gears up for the upcoming games at Mercedes-Benz Stadium.