Newks Eatery
Lease Management
Lease Abstracting
Financial Reports
Tax & Operating Expenses
Location Analysis
Labor Market Analysis
Transportation Costs
Utility Costs & Availability
Quality of Life
Taxation
Market Accessibility
Negotiations
Proposals
Lease Contracts
Dispositions
Acquisition Contracts
Sale/Leasebacks
Challenge
Cool Springs has a tremendous amount of restaurants and so the need to differentiate the restaurant location and locate at an “A Site” with a great traffic count was a necessity.
Newk’s requires a site that is located on the main road at the end cap of a building with an opportunity of a patio.
There was no vacancy in the Cool Springs market during the 6-8 months of our search that met Newk’s site criteria.
Action
Because of C&A being an exclusive tenant representation firm, Landlords are typically willing to share more information with us because we are not competing with them to attract tenants for listings.
Because there are a lot of restaurants in the Cool Springs market, C&A contacted all of the Landlords that would potentially have locations that would suit Newk’s needs to let them know that we were interested in the market.
C&A performed an analysis of all the national restaurants that were having financial troubles with locations in Cool Springs and talked to the appropriate real estate directors of the corporations.
Result
Newk’s ultimately ended up leasing the former Atlanta Bread Company space which is almost their identical prototypical square footage.
The location fit all of Newk’s site criteria and today has excellent visibility on Cool Springs Blvd.
The restaurant continues to be a top 20% restaurant in the entire Newk’s chain.