Commercial Real Estate, Capital, Insurance, Leasing & Management

Success Story

Shifting Spaces

Quick pivots in strategy important as new consumer spending trends emerge

As consumers continue to invest in their homes and their hobbies during the pandemic, it is no surprise that retailers who specialize in meeting those needs are experiencing the greatest success and the most growth.

According to a study conducted by Hippo, consumers spent upwards of $84 billion on home improvements in 2020. Data also shows that people are spending heavily on equipment for outdoor sports and activities. Dick’s Sporting Goods reported that fourth-quarter sales were up 20% to $3.13 billion, with a profit that was roughly triple that of the same time in 2019.

Franklin Street Retail Leasing closely watches and monitors retail news not only to stay on top of trends, but also to gain the insight that will ensure that the team remains adaptable and agile. When two major retailers (tenants at the Towne Center Prado in Marietta, GA) declared bankruptcy, forcing them to liquify their assets and close all locations, Franklin Street was ready to provide the best solution to the property owner.

Armed with the knowledge of the pandemic-related shift in consumer spending, Sam Krueger and Kaitlyn Theriot of Franklin Street’s Atlanta office quickly identified and attracted two top-quality tenants for the 20,000+ of recently vacated combined square footage.

Thanks to the agility of the Franklin Street Retail Leasing team and easily adaptable strategic approach maintained by Kreuger and Theriot, the 13,830 SF and 8,430 SF spaces are now home to Vibe Kayaks and Conte’s Bikes, two fast-growing lifestyle companies poised to serve the booming Marietta market.  

Additionally, the former 36,538 SF-Stein Mart (another retailer who is shutting its doors) will soon be home to a Dick’s Sporting Goods warehouse — a complementary move made by the Landlord that reinforces the future of retail and the highest and best use of open space.

To learn more about how Franklin Street can help you maximize the value of your asset, visit https://franklinst.com/services/investor-services/.

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