Atlanta — Atlanta-based cheeseburger slider concept Smalls Sliders has signed a new, four-unit franchise agreement in Georgia. DPC Smalls Investments will own and operate the restaurants, with the first scheduled to open in 2025. DPC Smalls is considering locations including Albany, Valdosta, Tifton and Brunswick for the new units, all of which will open within the next five years. With the new agreement, the franchisee and Smalls Sliders will open a total of 20 restaurants, dubbed “Cans,” in Florida and Georgia.
Atlanta — The Cobb-Marietta Coliseum and Exhibit Hall Authority, owner and operator of the Cobb Galleria Centre in Atlanta, has selected a team of locally based firms to manage the expansion and renovation of the convention center. Impact Development Management will serve as the authority’s representative and project manager for the overhaul, Rule Joy Trammell + Rubio will serve as the project architect and Holder Construction will be the construction manager. The development team plans to break ground on the project in fall 2025, with completion scheduled for early 2027. The …
Albany, Ga. — Frozen yogurt brand TCBY has announced that it will open a new shop in Albany. Franchisees Clay and Taylor Wiggins will own and operate the venue, which marks the fifth outpost in the state for TCBY. Scheduled to open Oct. 26, the store will span 1,120 square feet with indoor and outdoor seating, as well as a walk-up window and drive-thru.
Sugar Hill, Ga. — Ackerman & Co. and Novare Group have announced plans to develop a 13,275-square-foot retail project within Novare Group’s Conclave development in Sugar Hill. Situated on a four-acre site within the mixed-use property, the retail component will comprise two buildings totaling 6,035 and 7,240 square feet, respectively. Kelly Wilson of Ackerman Retail will lead leasing at the development.
Snellville, Ga. — JLL Capital Markets has arranged the sale of Presidential Commons, a 264,271-square-foot shopping center located in Snellville. Kroger anchors the property, which was 89 percent leased at the time of sale. Other tenants at the center include Petco, Ulta Beauty, Burlington, Five Below and Aaron’s. SITE Centers sold the property to Sterling Organization for an undisclosed price. Jim Hamilton, Brad Buchanan, Andrew Michols and Anton Serafini of JLL represented the seller in the transaction.
Cumming, Ga. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $18.5 million sale of Vickery Village, a 59,601-square-foot retail center located in the Atlanta suburb of Cumming. The shopping center is situated within a larger, 188,000-square-foot mixed-use development dubbed Vickery Village Center. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller, an entity doing business as Vickery Village Community LLC, in the transaction. An entity doing business as Vickery Village Retail LLC acquired the center, which was leased to 27 tenants at …
West Palm Beach, Fla. — The West Palm Beach-based Sterling Organization has acquired a portfolio of three shopping centers for $180.5 million. The portfolio was purchased on behalf of the value add fund investment vehicle Sterling Value Add Partners IV L.P. ,and SITE Centers was the seller. The properties include Fairfax Towne Center in Fairfax, Virginia; Presidential Commons in Snellville, Georgia; and Village at Stone Oak in San Antonio. Safeway anchors Fairfax Towne Center, which totals 253,392 square feet. Other tenants at the property include T.J. Maxx, Regal Cinemas and JOANN …
High occupancy rates and prohibitive development costs continue to challenge expansion-minded retailers. Only 4.5 percent of total retail space in the United States was available for lease at the end of August, according to CoStar Group. That represents a 35 percent reduction in retail availability over the past decade amid greater absorption and space being removed from the market. Combined with limited new shopping center development over the past 15 years, the tight conditions are pushing retail real estate experts to get creative when searching for ways to help brands …
Pooler, Ga. — Cohen & Steers Income Opportunites REIT (CNSREIT) has acquired Village on Pooler Parkway, a 142,000-square-foot shopping center located in Pooler, roughly 15 miles outside Savannah. CNSREIT purchased the center through a joint venture with Sterling Organization. Built in 2014, the property was fully leased at the time of sale. Tenants at the center include T.J. Maxx, Ross Dress for Less, Michaels, PetSmart, Panera Bread, Buffalo Wild Wings and Jersey Mike’s.
Alpharetta, Ga. — Marcus & Millichap has brokered the $6.3 million sale of Deerfield Village, a 16,500-square-foot retail center located in the Atlanta suburb of Alpharetta. Tenants at the property, which was fully leased at the time of sale, include Ichiban and Nahm. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller in the transaction.