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Old 02-05-2020, 10:59 PM
 
Location: Savannah GA
13,708 posts, read 18,579,042 times
Reputation: 10006

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STATE OF THE PAVILION 2020:

Ashley Furniture HomeStore has leased the 30,000 sf space left vacant when Bealls closed last year (between Party City and Pier One). Combined with 117,532 sf of empty space leased in 2019, that means the vacancy rate at Fayette Pavilion has been reduced to (are you ready?) >> 4.9 PERCENT! <<

(In February 2010 the retail vacancy rate for the City of Fayetteville was 30 percent!!!)

More specifically, Fayette Pavilion is the 4th largest shopping destination in Georgia with 1,506,176 sf of space (after Mall of Georgia, Lenox and Perimeter). With the Ashley HomeStore lease, there are now just 15 (fifteen) empty spots at the Pavilion, ranging in size from 800 to 14,000 sf. That may sound like a lot, but as a percentage of all space it’s less than 5 percent. THE AREAS IN PINK ON THE ATTACHED MAP ARE THE SPOTS AVAILABLE. Everything else is leased.

In addition to Ashley, other new tenants in the past year are Hopebridge Autism Therapy Center, Burlington Coat Factory, BurgerIm, Shoppers World, T-Mobile and DSW Designer Shoe Warehouse.

Many people down in Fet-vul will say that the new leases don’t matter because the stores aren’t upscale or high-end enough or just plain crap. But the fact remains that Fayette Pavilion, which began opening in phases 24 years ago to become the 4th largest shopping center in Georgia, is starting the New Year MORE THAN 95 PERCENT LEASED … which is good news for Fayette County and the entire South Side no matter how you try to spin it. That any shopping center ANYWHERE is 95 percent leased in this retail environment is remarkable.

For years, naysayers have predicted the demise of Fayette Pavilion. “That whole end of the county is gonna be a ghost town one day.” Obviously, those predictions weren’t just exaggerated. They were based on zero fact.
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Fayette Pavilion more than 95 percent leased-0cafa70c-bada-4aef-a021-6cadbf1f14aa.jpeg  
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Old 02-05-2020, 11:19 PM
 
Location: Atlanta
7,767 posts, read 4,770,655 times
Reputation: 6923
^Great news for the Southside! I've never seen it, so I had no clue it was this large. Ashley, Burlington and DSW are solid anchors.

Hopefully things are good with Ashley Park in Newnan as well.
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Old 02-06-2020, 01:04 AM
 
7,389 posts, read 6,730,482 times
Reputation: 5118
Quote:
Originally Posted by Newsboy View Post
STATE OF THE PAVILION 2020:

Ashley Furniture HomeStore has leased the 30,000 sf space left vacant when Bealls closed last year (between Party City and Pier One). Combined with 117,532 sf of empty space leased in 2019, that means the vacancy rate at Fayette Pavilion has been reduced to (are you ready?) >> 4.9 PERCENT! <<

(In February 2010 the retail vacancy rate for the City of Fayetteville was 30 percent!!!)

More specifically, Fayette Pavilion is the 4th largest shopping destination in Georgia with 1,506,176 sf of space (after Mall of Georgia, Lenox and Perimeter). With the Ashley HomeStore lease, there are now just 15 (fifteen) empty spots at the Pavilion, ranging in size from 800 to 14,000 sf. That may sound like a lot, but as a percentage of all space it’s less than 5 percent. THE AREAS IN PINK ON THE ATTACHED MAP ARE THE SPOTS AVAILABLE. Everything else is leased.

In addition to Ashley, other new tenants in the past year are Hopebridge Autism Therapy Center, Burlington Coat Factory, BurgerIm, Shoppers World, T-Mobile and DSW Designer Shoe Warehouse.

Many people down in Fet-vul will say that the new leases don’t matter because the stores aren’t upscale or high-end enough or just plain crap. But the fact remains that Fayette Pavilion, which began opening in phases 24 years ago to become the 4th largest shopping center in Georgia, is starting the New Year MORE THAN 95 PERCENT LEASED … which is good news for Fayette County and the entire South Side no matter how you try to spin it. That any shopping center ANYWHERE is 95 percent leased in this retail environment is remarkable.

For years, naysayers have predicted the demise of Fayette Pavilion. “That whole end of the county is gonna be a ghost town one day.” Obviously, those predictions weren’t just exaggerated. They were based on zero fact.
YES! In this current retail environment (a retail environment that is often described as being an 'apocalyptic' 'end-times' environment for bricks-and-mortar retail), a 95% occupancy rate is STELLAR!

I am very delighted to see Fayette County continuing to do very well and continuing to be one of the most important major success stories for the Southside.
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Old 02-06-2020, 01:57 AM
 
7,389 posts, read 6,730,482 times
Reputation: 5118
Quote:
Originally Posted by JMatl View Post
^Great news for the Southside! I've never seen it, so I had no clue it was this large. Ashley, Burlington and DSW are solid anchors.
Yes! There's also a Target, a Home Depot, a Marshall's, a Kohl's, a Dick's Sporting Goods, a Belk, a Publix, a Big Lots, a 12-screen movie theater and, probably most importantly of all, circa-2020, a Walmart Supercenter.

With all of the carnage that has been going on in that industry over the last 5 years or so, you know that (maybe outside of most Walmart Supercenters and some "power centers" in some of the more affluent areas) I understandably am not the most optimistic about the future of bricks-and-mortar retail as a whole.

But with that lineup of stores (along with other smaller well-known stores like Bath & Body Works; Bed, Bath & Beyond, a PetSmart; Ross Dress for Less; Dollar Tree; etc.), a development like Fayette Pavilion looks to be in pretty good shape, especially considering the present state of bricks-and-mortar retail as a whole.


Quote:
Originally Posted by JMatl View Post
Hopefully things are good with Ashley Park in Newnan as well.
The situation is not perfect, but Ashley Park is also continuing to do fairly very well, considering the generally unfavorable era this is for bricks-and-mortar retail.

In late 2018, there were reports that Ashley Park is going to expand with the construction of a 10,000 square foot building that is proposed to include 3 restaurants in one of the parking lot sections next to the Regal Cinemas Georgia 14 movie theater. Though, no permits had been pulled for the project as of June 2019.

New Expansion Coming to Ashley Park (The City Menus, 1 Nov 2018)

Construction To Begin Soon at Ashley Park (The City Menus, 3 June 2019)
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Old 02-06-2020, 07:30 AM
 
Location: Addison, TX
7,409 posts, read 2,977,384 times
Reputation: 5965
Ashley Park is being more creative with their vacant space by replacing the vacant storefronts with "new" restaurant concepts.

But the vacancy is low there as well (I don't have the exact numbers) given the high rents. In fact, several places that did good business in Newnan have closed recently because they can't keep up with the rent paymemts.

Also, I know interest has been expresed by several retailers and restaurants to expand into Newnan (for example, Haverty's and At Home had to wait until Babies R Us and Gander Mountain were vacated).

There are a couple of road blocks though. One is the high rents (as mentioned). Also, with the low population density, low daytime worker population and only moderate income levels, businesses that open in Newnan must be really picky about their location to maximize traffic (Bullsboro Drive is at capacity right now).

The hope is that the opening of the new Poplar Road interchange will activate new retail development(s) over the next several years, and the retail development(s) will activate the opening of more new-to-market restaurants. That probably won't happen though until after the next recession with lending tightening and construction costs so high.

In the meantime, Newnan continues to build up its population density, with numerous 200 - 300+ unit multi-family housing projects in various stages of planning / construction and a 500+ home subdivision under construction near Piedmont Hospital.
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Old 02-06-2020, 07:38 AM
 
Location: Atlanta
1,187 posts, read 1,186,681 times
Reputation: 1299
Quote:
Originally Posted by Born 2 Roll View Post
YES! In this current retail environment (a retail environment that is often described as being an 'apocalyptic' 'end-times' environment for bricks-and-mortar retail), a 95% occupancy rate is STELLAR!

I am very delighted to see Fayette County continuing to do very well and continuing to be one of the most important major success stories for the Southside.
Fayette County is solidified. Those people there are solidly upper middle class. I don’t foresee Fayette doing anything but continuing to thrive. Not every place has to look like Alpharetta and Dunwoody to be great. Fayette just wants to be Fayette.
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Old 02-06-2020, 07:44 AM
 
Location: Atlanta
1,187 posts, read 1,186,681 times
Reputation: 1299
Quote:
Originally Posted by Newsboy View Post
STATE OF THE PAVILION 2020:

Ashley Furniture HomeStore has leased the 30,000 sf space left vacant when Bealls closed last year (between Party City and Pier One). Combined with 117,532 sf of empty space leased in 2019, that means the vacancy rate at Fayette Pavilion has been reduced to (are you ready?) >> 4.9 PERCENT! <<

(In February 2010 the retail vacancy rate for the City of Fayetteville was 30 percent!!!)

More specifically, Fayette Pavilion is the 4th largest shopping destination in Georgia with 1,506,176 sf of space (after Mall of Georgia, Lenox and Perimeter). With the Ashley HomeStore lease, there are now just 15 (fifteen) empty spots at the Pavilion, ranging in size from 800 to 14,000 sf. That may sound like a lot, but as a percentage of all space it’s less than 5 percent. THE AREAS IN PINK ON THE ATTACHED MAP ARE THE SPOTS AVAILABLE. Everything else is leased.

In addition to Ashley, other new tenants in the past year are Hopebridge Autism Therapy Center, Burlington Coat Factory, BurgerIm, Shoppers World, T-Mobile and DSW Designer Shoe Warehouse.

Many people down in Fet-vul will say that the new leases don’t matter because the stores aren’t upscale or high-end enough or just plain crap. But the fact remains that Fayette Pavilion, which began opening in phases 24 years ago to become the 4th largest shopping center in Georgia, is starting the New Year MORE THAN 95 PERCENT LEASED … which is good news for Fayette County and the entire South Side no matter how you try to spin it. That any shopping center ANYWHERE is 95 percent leased in this retail environment is remarkable.

For years, naysayers have predicted the demise of Fayette Pavilion. “That whole end of the county is gonna be a ghost town one day.” Obviously, those predictions weren’t just exaggerated. They were based on zero fact.
In this world, if you don’t follow the masses, you’re ostracized. I’m glad Fayette is sticking to being them. We have enough Cumberlands and Perimeter Centers in this region. Let rural folk be rural if that’s what they want. It’s not like they’re asking everyone to subsidize their lifestyle. Folks hating for no reason.
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Old 02-06-2020, 08:36 AM
 
15,057 posts, read 24,130,852 times
Reputation: 5733
Love Northern Fayette County and Fayetteville.
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Old 02-06-2020, 08:39 AM
 
15,057 posts, read 24,130,852 times
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Quote:
Originally Posted by isawooty View Post
Let rural folk be rural if that’s what they want...

It's not rural, it's pastoral suburban.
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Old 02-06-2020, 04:57 PM
 
Location: East Side of ATL
4,563 posts, read 6,537,222 times
Reputation: 2121
If it had a Kroger, it would be the perfect place to go grocery shopping.

A very interesting shopping center.
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