Trouble at the Battery: High Rents Driving Away Innovation and Creativity (Atlanta: lease, lenders)

[Iconographer]

Bummer.

The closing of Feed Fried Chicken + Such at The Battery Atlanta would seem to be a portent of things to come at the Battery. Its high occupancy costs, in addition to its apparent inability to deliver consistent traffic outside of gametime, is driving away the kind of retailers to be found in hipper, more creative environments to be found in the intown neighborhoods.

"In addition, a large part of the footprint of the Battery remains undeveloped and unleased. With the lack of brick and mortar retail locations and more tenants to draw people to the Battery, we just can’t support a restaurant with such high occupancy costs. We plan on focusing on our successful locations in Marietta and Alpharetta and continuing to serve the Atlanta community."

I was initially under the impression that the Battery's developers wanted to bring some of this sort of creative energy into the mix, but given the parameters set, it will likely devolve into something more typically suburban and chain-driven.
Maybe long-term this is a non-problem; perhaps they're simply undergoing the same kind of growing pains as Atlantic Station has since its inception.

https://whatnowatlanta.com/feed-frie...tlanta-closed/

[citidata18]

It's going to be interesting to see how this all shakes out in the coming years.

It's a catch-22, because most developers can't build/operate these elaborate properties at the profit level their shareholders and lenders desire without charging a ridiculous amount in rent, yet many businesses refuse to lease space at these rent levels because their own profit margins are already extremely slim and the level of customer demand (already limited between the lack of wage growth and stiff competition from places like Amazon) in these locations wouldn't make up for the higher expense they would incur.

It's not just an issue specific to The Battery either. It's happening all over the country right now. Unfortunately, I envision there being a ton of vacant retail space in areas that saw a ton of overbuilding pre-Great Recession but lack the sufficient population density and median income to support all of these developments.

[Iconographer]

Originally Posted by citidata18

It's going to be interesting to see how this all shakes out in the coming years.

It's a catch-22, because most developers can't build/operate these elaborate properties at the profit level their shareholders and lenders desire without charging a ridiculous amount in rent, yet many businesses refuse to lease space at these rent levels because their own profit margins are already extremely slim and the level of customer demand (already limited between the lack of wage growth and stiff competition from places like Amazon) in these locations wouldn't make up for the higher expense they would incur.

It's not just an issue specific to The Battery either. It's happening all over the country right now. Unfortunately, I envision there being a ton of vacant retail space in areas that saw a ton of overbuilding pre-Great Recession but lack the sufficient population density and median income to support all of these developments.

This is pretty much exactly what's going on, not just with the Battery but with brick and mortal retail in general.
The challenge as I see it is to create an environment that transcends Suntrust Park and gives the consumer a reason to go there when the stadium lights are off. You can go to an Outback or Red Lobster most anywhere; a Kevin Rathbun Steak or an Optimist, not so much.
Ultimately, the Battery might reinvent itself as something akin to Buckhead Village circa 1995. Not a bad idea, as crowd control would likely be more manageable.

Originally Posted by 1bears2

If they had MARTA it would bring it more foot traffic

You're preaching to the choir on that one, but you still have to give 'em a reason to jump off the train.

[Iconographer]

Originally Posted by quietridr

That part of Cobb has really hit the skids. Windy Hill looks rough. Placing the stadium @ 400 and 285 would have been better provided the dept of transport made large improvements.

Seems to me it's on the upswing. I'm optimistic about it. It's well-located in the scheme of things.

[JKendrow]

This will make jsvh very happy.

[primaltech]

So because one restaurant is closing, that means "trouble at the Battery", and "That part of Cobb has really hit the skids".

I'm confused, here. Were you people born yesterday? You do realize that restaurants fail all the time, everywhere, right?

The Battery is growing and expanding, with new developments in the works, and I'm sure something will fill the spot where Feed is.

Yeah, mass transit connection would help the Battery a lot. I wish they'd freaking get on that. But in the meantime, it's still doing more than fine. Lots of people walking around and at those bars every time I go there on non-game days, and on game days it's even more crowded.

[Iconographer]

Originally Posted by primaltech

So because one restaurant is closing, that means "trouble at the Battery", and "That part of Cobb has really hit the skids".

I'm confused, here. Were you people born yesterday? You do realize that restaurants fail all the time, everywhere, right?

The Battery is growing and expanding, with new developments in the works, and I'm sure something will fill the spot where Feed is.

Yeah, mass transit connection would help the Battery a lot. I wish they'd freaking get on that. But in the meantime, it's still doing more than fine. Lots of people walking around and at those bars every time I go there on non-game days, and on game days it's even more crowded.

Apparently you missed this part.

"In addition, a large part of the footprint of the Battery remains undeveloped and unleased."

For a development that was so ballyhooed for so long, that suggests a problem.
Now an experienced entrepreneur who happens to have two other successful enterprises under his belt is relating his own experience as a means of identifying future concerns respective to Battery Park. I take him seriously.

[DJDeadParrot]

Originally Posted by citidata18

Unfortunately, I envision there being a ton of vacant retail space in areas that saw a ton of overbuilding pre-Great Recession but lack the sufficient population density and median income to support all of these developments.

You know that you just described the area around Gwinnett Place, right?

[citidata18]

Originally Posted by DJDeadParrot

You know that you just described the area around Gwinnett Place, right?

That is one area that comes to mind, but I think my description fits several areas around Metro Atlanta and in other parts of the country.

[primaltech]

What's undeveloped?

This?:

https://www.bizjournals.com/atlanta/...nt-around.html

This?:

https://www.bizjournals.com/atlanta/...art-tower.html

Undeveloped as in, construction is just getting started? Again, I'm confused.