Smith & Hawkins may move to Brookhaven
There is speculation that Smith & Hawkins, the luxury garden retail company, is considering moving its corporate headquarters from San Francisco to Atlanta, bringing 120 jobs and a flagship store to Town Brookhaven, the Sembler Co.’s mixed-use project under construction on Peachtree Road in Brookhaven.
But Pat Farrah, the interim head of Smith & Hawkins and co-founder of Atlanta-based Home Depot, said the headquarters will not move if the company is not on sound financial footing. The company is struggling.
Sembler President Jeff Fuqua has said incentives from the county and state would be key to luring the Smith & Hawkins headquarters to Town Brookhaven. He said the present Town Brookhaven plan does not include a Smith & Hawkins headquarters, but the project could be expanded to accommodate it.
Smith & Hawkins is a division of Scotts Miracle Grow, a nearly $3 billion publicly traded company based in Marysville, Ohio. Smith & Hawkins sells garden items, from tools to furniture to plants and bulbs, in stores and online. The company has a store on Peachtree Road in the Peachtree Battle area of Buckhead.
Coro buys Park Place
Buckhead-based Coro Realty Advisors, which owns strip shopping centers in Sandy Springs, has purchased Park Place, the 82,097-square-foot Perimeter Center specialty retail shopping center at 4505 Ashford-Dunwoody Road, for $28.5 million.
Coro purchased the property from Bell Partners of Greenville, S.C., on behalf of an offshore investor for $347 per square foot, reportedly through assumption of existing financing of $18.8 million from lender Principal Commercial Funding.
Park Place, which is across Ashford-Dunwoody from Perimeter Mall in Dunwoody, is 90 percent occupied by national and regional specialty tenants, including Talbot’s, Jared Galleria of Jewelry, Alon’s Bakery, H. Stockton and McKendrick’s Steakhouse.
Rack is on the way
Seattle-based Nordstrom Inc. plans to open a Nordstrom Rack, the department store company’s off-price division, in Buckhead Station on the Lenox Road loop in 2010, just blocks from the Nordstrom department store at Phipps Plaza.
After opening the 38,000-square-foot store upstairs at Buckhead Station, Nordstrom does not plan any further expansions in Georgia, though the company is planning 28 new stores over three years nationally. Sixteen of those will be Nordstrom Rack stores.
Others at Buckhead Station, owned by Equity One, include T.J. Maxx, DSW, Bed Bath & Beyond, Ultra3 and Toys “R” Us.