June 11, 2014
Ackerman & Co. Sells Rainwater Restaurant to Ruth’s Chris Steakhouse
Atlanta, June 11, 2014 – Ackerman & Co. has brokered the sale of an 18,248-square-foot, turnkey restaurant building in Alpharetta, Ga. to Ruth’s Chris Steakhouse. Forgoing the option to lease, Ruth’s Chris purchased the land and two-story building at 11655 Haynes Bridge Road – formerly award-winning Rainwater restaurant – just off Georgia 400.
Built in 2001, the 2.3-acre property fronts Haynes Bridge for maximum visibility and is in close proximity to the Greater North Fulton Chamber of Commerce. “That alone should provide Ruth’s Chris with an immediate and consistent stream of business,” said Steve Langford, investment sales vice president at Ackerman. Langford, along Alan Shaw from the Shopping Center Group, represented the seller, J.D.F. Holdings, LLC, in the transaction.
Ruth’s Chris plans to relocate its Sandy Springs restaurant to the new Alpharetta location by the fall. The company will operate the restaurant on the first floor and use the second level for their corporate offices. This sale was a unique opportunity for a national owner/occupier to take advantage of current market pricing, expand and relocate an existing business, and be in one of metro Atlanta’s most affluent and sought after communities.
– About Ackerman & Co. –
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than 30 million square feet of office, medical, retail and mixed-use space, has nearly 4 million square feet under management, and maintains an investment portfolio valued at $750 million.
For more information on Ackerman & Co., visit www.ackermanco.com