Gatewood Retail Case Studies
Each photo represents a unique business story complete with characters, a plot, a motive and a location. Relationships with each individual tenant, landlord, or buyer is unique; no two are ever the same. The following case studies or 'case stories' are authentic examples of our work.
In addition to the traditional services a real estate company offers, our company story also includes the narrative that we deeply embrace loyalty, discretion, hard work and trust.
CASE STUDY #1 – HIGHEST AND BEST USE
Brown’s Corner – Tuscaloosa
2325 University Boulevard at Greensboro Avenue Off Market Acquisition – Landlord Representative
Built in 1906, this premier corner downtown property has been everything from a department store to a brewery. Located at the intersection of University Boulevard and Greensboro Avenue, this historic jewel sets the tone for the entire landscape of Tuscaloosa’s thriving downtown commercial corridor. The owners were approached and asked if they would sell the building. As with most sellers they agreed to “for the right price”. The intent was to find a purchaser that would provide a “highest and best use” for this 16,000 SF+ historic behemoth, while also allowing the existing concept to relocate and scale down overhead to increase their ROI. This was a 2 year process but entirely worth it.
The eventual Purchaser simultaneously brought in Half Shell Oyster House, an ideal tenant fit, that is thriving in this marquee location. With a spectacular interior renovation, Half Shell with its New Orleans flair has brought this strategic corner to life. Tuscaloosa, too, now can say “Laissez les bon temps rouler!” https://halfshelloysterhouse.com
Brown's Corner Photo Gallery
CASE STUDY #2 – RIGHT PLACE RIGHT TIME
Taco Mama Tuscaloosa
2104C University Boulevard - Tenant Representative – Restaurant concept for unique space
Another strategic corner in downtown Tuscaloosa came to life when Tracy Gatewood walked into the original Taco Mama location in Birmingham’s Crestline Village. After ordering “The Judge”, she innocently looked from her table through the two garage door openings onto Church Street then had “a moment”. Taco Mama would be the ideal tenant to fill the garage space in Tuscaloosa at 2104 University Boulevard. After quickly locating the owner of Taco Mama, she asked if he would come to Tuscaloosa for a site visit. A UA grad, he wisely had already considered a Tuscaloosa location. (Roll Tide). He drove down and said Yes. [ For the record, we love it when they say Yes. ]
In 2015, the neighborhood received a major upgrade when The Locker Room (www.locker-room.biz) moved off The Strip and into the 7000 SF space now occupied by Taco Mama. (www.tacomamaonline.com) In 2016, Gatewood Retail represented Taco Mama Auburn as tenant in a 2500 SF location in downtown Auburn at 149 E. Magnolia Avenue. Most recently in 2019, a 900 SF prep kitchen expansion in Auburn was also brokered.
Taco Mama Tuscaloosa Photo Gallery
CASE STUDY #3 – ITS WHO YOU KNOW
South City Partners - Tuscaloosa
1418 10th Avenue
Buyer Representation: Site Selection – Student Housing
A sprawling, outdated single story shopping center was situated on a 5 acre gateway corner to the University of Alabama, and only 3 blocks from Bryant Denny Stadium, Sorority Row and Tutwiler freshman dormitory. Given its proximity to campus, this corner site had a variety of potential uses. You may notice, we love corners. Corners are the most valuable parcels in real estate; commercial or residential. A corner sets the tone for the rest of an entire block of real estate and should be updated, developed or renovated prior to interior buildings or land. The owners were contacted, and we were supplied the necessary information to move forward on the search for a Purchaser that could take this corner and give it a high-quality, dynamic makeover.
A strategic connection with an out of state broker became instrumental in connecting the right dot to a prominent housing development firm that would purchase this location. South City Partners https://southcitypartners.com purchased the site and with Balfour Beatty developed a best-in-class 5 story multifamily student development that lights up this intersection. The development remains 100% leased and has since sold, now called Ion Tuscaloosa (formerly University House Tuscaloosa). www.iontuscaloosa.com
The importance of having a strong network of industry relationships cannot be minimized. One never knows who holds the strategic piece of every real estate puzzle.
South City Partners Photo Gallery
CASE STUDY #4 – KNOW THY MARKET
Billy’s Sports Grill
430 Main Avenue Northport
Landlord Representative – Restaurant for historic landmark
A concerned landlord reached out for assistance to lease his historic building on Main Avenue Northport following a Houdini-esque midnight move-out by the previous tenant. Comfortable, and family friendly yet with after-hours appeal to the business community and local millennials was the required blend to make a beautiful 9000 SF building successful. Home to #Kentuck, a 30+ year annual art festival, Northport has an eclectic community fabric replete with organic farmers, artists, students, businesspeople and tradesmen. Billy’s had achieved the position of Statesman in its English Village location and appeared to possibly be a good fit into this tightly woven business community. An in-person meeting was held with the concept’s Birmingham based owner.
Cell phones and internet searches are no substitutes for market understanding via drive arounds and face to face encounters with business owners; both should occur before the site walk thru. Having lived in Birmingham for 8 years (and Atlanta 13 years prior) this market knowledge helps tremendously with analyzing fit when bringing expanding concept owners outside of their familiar footprint. First time expansions are scary. Gatewood Retail will make every attempt to place Tenants with Landlords who understand the long game and embrace tenant relationships as partnerships. And yes, this too is a corner property. https://billyssportsgrill.com
Billy's Sports Grill Photo Gallery
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