What's missing from this picture? I say nothing. We've been counting down the days until one of the last brick and mortar Blockbusters ITP finally closes its doors in our Brookhaven neighborhood. Nothing against Blockbuster, they were awesome 10 years ago. But as new players come to the market with better ideas and better business models, either you're quick or you're dead (as my CEO likes to put it).
Unfortunately for the entertainment rental staple, it was the latter. But enough about business, you don't have to be a business major from a leading institute to know that Blockbuster was going to bite the dust eventually. Now we turn our attention to a more pressing question: what will be the Phoenix that will rise out of the ashes of this dead shopping center?
For years the vacant anchor space (which was at one time Wilson's Antiques) has made Brookhaven Plaza an eyesore. Floated by small tenants including Rite Aid, Terra Grille (upscale american dining), Famous Hair, a cleaners and a nail spa this dated shopping center is not exactly your destination for... anything. We are quite puzzled at how this shopping center has stayed above water, yet so under-leased for so many years - especially with its prime location at the intersection of N. Druid Hills and Peachtree Rd. Rumors from the industry say that Kroger holds a 26 year lease on the space to prevent any grocery competitors from coming in across the street from them. Not sure if the property manager would let his shopping center die without an anchor tenant in business there, even if Kroger were paying the rent - so consider me skeptical on if this is true. Whatever the case, with Blockbuster now gone and Hastings moving providing a large parcel as well, we can only be a bit hopeful that there is a possible big development in the future. Everything makes sense for a new development there - high vehicle and pedestrian traffic, plenty of traffic lights for easy access, right across from MARTA, higher population density in the area with lots of apartment and condo dwellings along Peachtree. This would be a wonderful addition to the Brookhaven area and further make Brookhaven a great desirable place to live. As these developments start to pile on, who knows what we can turn this area into? With great new developments like Village Place and Town Brookhaven already here and proving themselves, a boy can dream right?
We'll be sure to keep you up to date if anything new comes to light.
