S.J. Collins Enterprises, a Fairburn, Georgia-based real estate development firm, recently confirmed that a 365 by Whole Foods Market will anchor their new project in Decatur. The 365 stores will offer more affordable options and are meant to penetrate markets that a flagship Whole Foods Market might have had difficulty doing. Located at the corner of North Decatur Road and Church Street, "North Decatur Square" will rise on a large parcel where Nalley Automotive Group currently has a few dealerships.
Nalley will move both its Nissan and Infiniti dealerships to a portion of the old GM plant in Doraville where they expect to open by February or March of next year according to a Nalley spokesperson.
According to Jeff Garrison, a partner at S.J. Collins, the project will total "+/- 18 acres" and will include both additional retail and restaurant space as well as apartment units.
Research indicates the 365 by Whole Foods Market store will be 35,000 square feet, making it one of the largest stores thus far announced for the would-be chain.
While a lease with Whole Foods was already confirmed, this past Friday, the Decide DeKalb Development Authority unanimously approved $1.8 million in tax incentives for the project. The tax incentives give S.J. Collins a break on property taxes during the next 10 years. During that time, the project is expected to generate nearly $9 million in tax revenue for the county and local governments.
The Shopping Center Group, headquartered in Atlanta, is handling the leasing for the project. According to their leasing materials, the "site will feature a 4-story apartment building housing 450 residents which will augment existing apartment stock of over 1000 units within ¼ mile radius."
The marketing materials for the center also indicate it will provide a total of 449 parking spaces, or 5.01 per 1000 square feet.
The center will also feature just over 54,000 square feet of additional shop space including three restaurant end-cap spaces with patios.
Garrison hopes to land a variety of dining options for the center, anything from sit-down and chef-driven restaurants to fast-casual concepts.
Here's to hoping that tenants like "xyz nail salon" and "national mattress retailers" are not offered space in the center.
Construction is expected to begin in January, with stores scheduled to open in the second quarter of 2018.
S.J. Collins plans to have its Chamblee Whole Foods anchored project open long before the start of its Decatur project. Expected to open next summer, Peachtree Crossing, located at the corner of Johnson Ferry Road and Peachtree Industrial Boulevard, is located on the cusp of Chamblee / Brookhaven, but officially within the City of Chamblee. Just as in Decatur, the developer was granted nearly $10 million in tax incentives according to my friends at The Brookhaven Post. The center will be anchored by a 45,000 square foot Whole Foods Market as well as nearly 60,000 square feet in additional shop space. Among the restaurants already committed are Zoës Kitchen, YEAH! BURGER, Taqueria del Sol, Octane Coffee, Chipotle Mexican Grill and a new concept by Sushi One owners: Tokyo Belly. It's entirely possible the Decatur project could include some of these same concepts.
In addition to the Chamblee and Decatur stores, Austin, Texas-based Whole Foods Market has stores in development in both Kennesaw and Midtown. The 45,000 square foot Kennesaw store, located in Fuqua Development's Kennesaw Marketplace at the corner of Cobb and Barrett Parkways, is expected to open late this fall. The 70,000 square foot "flagship" Midtown store will occupy multiple levels in a new nearly 400 unit apartment high rise coming to the intersection of 14th, West Peachtree and Spring Streets.
Are you excited for the upcoming 365 by Whole Foods Market planned for Decatur? Do you think the area needs / can handle another 450 apartments? Do you think its appropriate that developers like S.J. Collin be provided so much in tax incentives?
Please share your thoughts below.