Business Briefs: Plaza Theatre & Majestic Diner sold; Madison Yards; new retail
Charlotte-based real estate company, Asana Partners, has purchased the two retail strip centers containing the historic Plaza Theatre and Majestic Diner in Poncey-Highland. According to a report in the Atlanta Business Chronicle, the company reportedly paid $18 million for the properties located at the corner of Ponce de Leon and North Highland Avenues. There are no plans to demolish or redevelop the property, according to the new property owners. Plaza Theatre, a fixture since 1939, released a statement on its Facebook page to calm fears from patrons who were concerned about the cinema’s future: “The sale of the shopping center in no way impacts the operation of the theatre or its long term lease. We look forward to a successful and positive relationship with the new landlord as this shopping center embarks on a new chapter. Here’s to another 77 years of movie theatre magic.”
Fuqua Development has filed permits to start the land development on nearly 160,000 square feet of retail for its Madison Yards project at 905 Memorial Drive in Reynoldstown. According to Bisnow, Madison Yards will have a mix of office, retail and 550 apartments developed by Greystar. Fuqua is reportedly in talks to bring a Publix supermarket and an AMC Theatre to the project, which will sit on the former Leggett & Platt mattress factory site along the Atlanta BeltLine.
Georgia Power plants to put a prime 10-acre site along the Atlanta BeltLine’s Eastside Trail on the market in April, according to a report at the AJC. The utility’s operations center at 760 Ralph McGill Boulevard, located next to Historic Fourth Ward Park, is one of the largest remaining single tracts along the Eastside Trail. The Georgia Power property is just a short walk from Ponce City Market and the redeveloping Masquerade site.
Spaces Midtown East is now open at 715 Peachtree Street offering collaborative workspace for entrepreneurs and innovators. Co-working memberships start at $199 per month and the building features 100-plus private offices, meetings rooms, business club, events and more. A second location in Atlanta at The Battery at SunTrust Park will open in mid-2017. For more information, visit spacesworks.com.
Paces Properties has announced that Shep’s Grant Park Ace Hardware and Primrose Schools are the latest tenants at Larkin on Memorial, set to open in Grant Park later this year. The 63,000 square foot neighborhood center will provide practical, everyday conveniences and services for locals while repurposing the Larkin Refrigeration Company and Veteran’s Radiator buildings in the community. For more information on Larkin on Memorial, visit larkinonmemorial.com.
Greystar Real Estate Partners, Concord Hospitality Enterprises Company and Whitman Peterson have announced development plans for Canopy by Hilton in Midtown. The project, featuring Hilton’s new hotel brand, has broken ground and is scheduled to open in summer 2018. Located at 1414 West Peachtree Street, the 176-room hotel will offer 3,000 square feet of flexible meeting space with an adjacent board room and elevated outdoor terrace. The hotel is part of a larger mixed-use project in conjunction with Greystar’s Ascent Midtown residences, a 328-unit luxury multifamily tower set to open in summer 2018.
Hartsfield-Jackson Atlanta International Airport has introduced biometric security at the airport in partnership with Delta Air Lines and CLEAR. Instead of waiting for an officer to review an ID and boarding pass, CLEAR members verify their identities with a simple tap of a finger or blink of the eye and then move directly to the metal detectors and bag scanners.
West Coast-based Rudy’s Barbershop was expected to open their first Georgia location at Ponce City Market in the Old Fourth Ward on March 1. The shop, which offers unisex services, will be in 1,477 square-feet with seven barber chairs and a variety of grooming products for men and women, including Rudy’s own brand as well as brands like BYRD, Baxter of California, Bumble and Bumble, Reuzel and Malin+Goetz. Services include a buzz cut for $15, short cut for $32, long cut for $45, beard trim for $10, bang trim for $10, color starting at $90 and a blowout for $35. Walk-ins are welcome but appointments are encouraged and can be booked on RudysBarbershop.com.
Cushman & Wakefield has signed a 50,203-square-foot lease at 1180 Peachtree, a Class A office building in Midtown. The real estate services firm will consolidate its two offices to two-and-a-half floors at the building this summer.
SunTrust Banks recently opened a new branch in the Morningside neighborhood at 1854 Piedmont Ave. The full-service offers a full range of financial services, including personal checking, personal savings, money services, personal credit cards, loans, home mortgage and retirement planning. It also offers Teller Connect, which combines the convenience of an ATM with the personal touch of a live teller to self-serve on a wide variety of transactions. Clients can initiate a video conference call to a remote teller to ask questions or complete a transaction.
Icebox Cryotherapy is in the final stages of taking over the ground-floor retail space of the YOO on the Park residential building in Midotwn. The studio anticipates opening its doors for clients in early Spring 2017. The new studio will include similar amenities as its Buckhead location, along with the new full-body cryo machine that allows guests to step inside a small sauna for a full body emersion.