Shopping Center Business

MAY 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Page 198 of 270

BREWERIES 194 • SHOPPING CENTER BUSINESS • May 2018 old church and turned it into a three-story brewpub. In 2016, Cushman & Wakefield ranked the Over-the-Rhine district among the top 15 coolest retail districts in the nation in its annual "Cool Streets" report — cit- ing locations like Taft's and Rhinegeist among the top destinations for millen- nial consumers. According to the vener- able brokerage, the area's resurgence has led to the investment of more than $330 million in renovations, construction and development and has attracted more than 130 new businesses. In Atlanta, a row of abandoned build- ings on Georgia Avenue is part of the re- development of the former Turner Field, once home to the Atlanta Braves. Carter, in partnership with Oakwood Development and Healey Weatherholtz Properties, are the developers behind the 72-acre proj- ect. Carter says a brewery called Halfway Crooks will open at a two-story brick build- ing on the vacant strip this fall, along with additional retailers including a local coffee shop, bakery and barbeque restaurant. In addition to the redevelopment of Georgia Avenue, the first phase of the proj- ect — Known as Summerhill — will include up to 300 multifamily units, 55,000 square feet of retail space, an 850-bed student housing project and a corporate build-to- suit office building. The project will be delivered in phases over the next 10 to 15 years, according to project developers. "This was one of the first neighbor- hoods that was settled in Atlanta, and it was full of commercial shopping districts for this part of town," says David Nelson, senior vice president at Carter. Eventually, parking lots replaced build- ings and the buildings left standing were abandoned. "Summerhill is certainly a revitalization project and something that the neighborhood and others have been eager to see happen," says Nelson. From the start, the project developers knew a brewery would be a smart choice to add to the tenant mix at Summerhill. "We really tried to curate our tenants in a way that respects the community that's there, respects the community that's com- ing, and helps to foster and build the com- munity so that these are places that people want to come to," says Nelson. "Breweries also bring in a diverse crowd," adds Coleman Morris, vice pres- ident of retail brokerage in JLL's Atlan- ta office. The real estate firm is leading the retail leasing efforts for Summerhill. "There's no specific profile for a brewery, and we liked that aspect as well." Near Orlando, in Winter Garden, Flor- ida, Crooked Can Brewing Co. is seeing this diversity in action. "You'll see every walk of life there," says Bobby Palta, first vice president of CBRE in Orlando. From retirees to young families to tourists, Palta says Crooked Can draws in visitors from all walks of life. "It's a local attraction for people all throughout the market," he says. "And it's really helped the whole downtown village come to life." New restaurants have opened in the surrounding area as a direct result of the brewery's success, says Palta, and stores that already had a presence are benefitting from the increased foot traffic. "The rising tide raises all the ships," he says. "Crooked Can has been a rock- et booster to take Winter Garden to the next level." MIXED-USE ON TAP While breweries certainly breathe life into colorless neighborhoods, they are also a draw for developers behind mixed- use destinations. O f f i c e O r r e t a i l Whatever your business goals, you can achieve them in the New Downtown shopping districts of Washington Town Center and Plainsboro Village Center. • Strategic Central New Jersey locations • Built-in Customer Traffic • Flexible Floor Plans • Competitive Rates • Conveniently Accessible from Major Roads and Arteries: NJ Tpke, Rtes 1 and 130, and 195 • Broker Co-op OFFICE AND RETAIL SPACE IMMEDIATELY AVAILABLE 609.918.2400 ext. 1 38 Your dream BUSINESS deserves a DREAM LOCATION

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