News
ATLANTA NEWCOMER: FRANKLIN STREET
July 22, 2010
 |
| Franklin Street Financial Partners has grown fast since opening up shop in Atlanta in January. (It's turned a conference room into an office and is knocking down a wall to add more space to its office at Piedmont Center.) The office has 10 people and is looking for more, particularly folks with multifamily expertise. Mac McCall, who joined Franklin Street from Marcus & Millichap and now heads the Atlanta office, and Monetha Cobb, formerly a partner at The Shopping Center Group, both are focused on retail, but would like to grow the multifamily business in Atlanta. (That's the core of Franklin?s Florida business. The Tampa office, Franklin?s HQ, has 5,000 units under management.) Franklin?s shtick is that it can provide clients real estate expertise across the spectrum—capital,insurance, management, brokerage, etc. |
  |
| Monetha is busy these days finding locations for Dollar Tree?s two new concepts: Dollar Stop and Deal$. Dollar Stop—6K SF stores that focus on party decorations, cards, and wrappings—just opened a Northpoint location and is finalizing a deal to go into Sembler?s Canton Marketplace in Canton. Monetha tells us that if the concept is successful, there could eventually be 100 or more in metro Atlanta. Unlike Dollar Trees, Dollar Stops don't sell food, so they can go into grocery-anchored centers. Deal$, a chain that Dollar Tree acquired in 2006, is expanding in Atlanta. |
 |
| Franklin also is marketing the Clermont Hotel. We reported on this assignment earlier this month, and this week we asked Mac for an update. He says Franklin has gotten interest from 20 to 25 parties and he expects five to seven good offers. Potential bidders are considering doing everything with the building from a boutique hotel to offices to condos. Mac estimates it will eventually go for around $4M. |
