Shopping Center Group to Revamp Atlanta Retail Space
- Oct 21, 2016
by Evelina Croitoru
Atlanta— The Shopping Center Group, one of the largest privately held real estate advisory firms in the U.S., has announced the repositioning of 25,000 square feet of retail space at East West Commons in Austell, Ga. The redevelopment is slated for completion in 2017, with demolition expected to commence this month.
Located at 1757 East-West Connector, the redevelopment project will feature two buildings, including a 4,300-square-foot, freestanding Panera Bread with drive-thru access and a 10,000-square-foot building to include Moe’s Southwest Grill and The Vitamin Shoppe. Another 5,000 square feet is still available for complementary retail and dining options. The overall shopping center totals 186,000 square feet, with a current roster including T.J. Maxx, Bealls, OfficeMax, PetSmart and Party City. Target and Lowe’s are shadow anchors at the center, occupying spaces that are not owned by Cole Credit Property Trust IV Inc.
“We are converting a former, larger tenant space into two vibrant retail buildings that will re-energize a portion of the shopping center. As a result, this new development became attractive to several national tenants due to enhanced visibility and curb appeal along the East-West Connector,” Patrick Bentley, senior leasing advisor with The Shopping Center Group, said in a prepared statement.
Bentley led the leasing team alongside VEREIT Inc., which leases and manages the shopping center on behalf of Cole Credit Property Trust IV Inc., which owns the property. The team developed a leasing strategy that will transform a previously vacant storefront into prime retail and restaurant space. VEREIT Senior Vice President Brett Sheets and Vice President Greg Browne worked in conjunction with Bentley on the repositioning.
“We saw a void in the market for highly visible, street-front retail and a gap that would appeal to several national retailers and fast-casual restaurants. Because of the new opportunity presented, the redevelopment is already 65 percent leased before construction begins,” said Sheets in prepared remarks.
Image Courtesy of The Shopping Center Group