Commercial Real Estate – Page 2 – Ellington Realty Group

New Restaurant Galactic Pizza Opens

November 13, 2018

Ellington Realty Group is proud to have worked together with these great folks in the lease for this fantastic new pizza joint near Brevard Road. Make sure to go, and check out the gorgeous handcrafted bar top while you’re there.

As reported in the Mountain Xpress on November 6, 2018:

Admiral+Desoto+Tastee Diner=Galactic

Galactic Pizza, one of West Asheville’s newest restaurants, has a solid West Asheville pedigree. Owners are Jonathan Robinson, part owner of The Admiral, and Natalia Robinson, of Tastee Diner. Other owners are Sabrina White and Tim McMurrin, owners of Desoto Lounge, and Doug Ellington, who owns the Sardis Road building that Galactic Pizza is in. Galactic Pizza opened Thursday, Oct. 25, serving New York-style pizza with a crust made from cake yeast, which gives it a moistness that dry yeast doesn’t, Jonathan Robinson says. The restaurant will offer standard toppings, but also homemade vegan pepperoni and cheese. The chicken banh mi pizza was a big hit during the soft opening in late October, he says.

Galactic Pizza is at 339 Sardis Road. Hours are 11 a.m.-11 p.m. Sunday through Thursday and 11 a.m.-midnight Friday and Saturday.

Chai Pani Owners Expanding Their Indian Street Food Empire

April 30, 2018

One of the very best parts of our job is working with the innovative, driven and deeply interesting clients that we work with. One of the best examples of those is long-time Ellington Realty Group clients Meherwan and Molly Irani of the famed Asheville restaurant Chai Pani.

Eater Atlanta published last week:

Chai Pani and Botiwalla chef-owner Meherwan Irani is expanding his Indian street food mini empire. Irani has confirmed he is opening three more metro Atlanta Botiwalla locations in the next year, and as many as eight to ten more locations over the next five years throughout the southeast. Irani’s future plans could include as many as 50 Botiwallas.

https://atlanta.eater.com/2018/4/19/17256006/botiwalla-chai-pani-meherwan-irani-expansion?mc_cid=f8587aeb39&mc_eid=%5bUNIQID

Asheville Mall Sears store to close in July

April 18, 2018

According to a report on money.cnn.com, between 20% and 25% of American malls will close within five years. That kind of plunge would be unprecedented in the nation’s history.

The reasons are nothing new. People are shopping online more than ever, and that trend is expected to keep growing. Foot traffic at malls has been on the decline for years. The report estimates that as malls close, online sales will grow from 17% of retail sales today to 35% by 2030.

There are also, quite simply, too many stores after years of new mall construction caused a retail bubble.

The closing of the Sears at the Asheville Mall is no surprise. A redevelopment plan is in the works however, to repurpose the space instead of the entire mall closing.

https://www.citizen-times.com/story/news/local/2018/04/17/asheville-mall-sears-store-close-july-2018-heres-what-we-know/520703002/

Chai Pani Launches New Look

March 9, 2018

We were proud to have represented the fine owners of Chai Pani when they opened their very first location on Battery Park. Now, that space has just undergone a renovation where the flavors can be bigger and better than ever and the restaurant can better serve it’s loyal customers.

Mackensy Lunsford, for the Citizen-Times, tells more:

https://www.citizen-times.com/story/news/local/2018/03/06/gallery-ashevilles-chai-pani-launches-new-look-expands-menu/396153002/

Would you live at the Asheville Mall? It may be on possible with this developer's plan.

January 11, 2018

ASHEVILLE Citizen-Times— In an era when shopping malls are fading into oblivion, the Asheville Mall has no intention of following suit. Part of its strategy? Living there.

A preliminary permit plan submitted last month by Seritage SRC Finance LLC to the city’s development services department details a $45 million redevelopment project in and near the mall’s Sears store.

Plans show the addition of restaurants, retail stores, a 10-screen multiplex movie theater and a six-story structure with 204 multifamily housing units. It likely would be among the largest single investments at the facility since it was built in the early 1970s.

Even in Asheville’s modern development culture — where rental housing is necessary, given a period of sustained demand — the project could be a game-changer, at least as far as the mall’s long-term viability is concerned. Its addition differs from tradition in the shopping-heavy corridor of Tunnel Road, and from enclosed shopping malls, in general.

What's Coming to the S & W?

November 1, 2017

Douglas and Kenneth Ellington, the great-nephews of architect Douglas Ellington who designed the S & W, and partners in Ellington Realty Group, are also partners in the S & W Artisinal.

“We’re thrilled to bring a local business into such an important piece of Asheville’s architectural history,” said Douglas Ellington in the release. “S&W Artisanal will be an eatery and market open during the day, at night and on weekends. It will breathe life into a treasured Asheville building.”

http://wlos.com/features/all-access-asheville/eatery-bar-and-authentic-greek-market-to-open-in-sw-cafeteria-building

The Lofts at Reynolds Village in Woodfin sells for $36.6M

October 16, 2017

Dillon Davis, [email protected] Published 2:00 p.m. ET Oct. 11, 2017

WOODFIN — The Lofts at Reynolds Village, a mixed-use apartment and commercial complex in Woodfin, recently was acquired by a Texas-based real estate investment chain for $36.6 million.

The 201-unit luxury apartment complex with 60,000-square feet of commercial space was sold by The Lofts at Reynolds Village LLC, an investment group led by Kirk Boone. It was purchased by Transcontinental Realty Investors, Southern Properties Capital and Abode Properties, a chain which used the name LARV TCI LLC, a North Carolina Special Warranty Deed filed last week shows

Boone, who has been involved with Reynolds Village and Reynolds Mountain developments since about 2000, said his investment group determined it was the right time to sell.

http://www.citizen-times.com/story/news/local/2017/10/11/lofts-reynolds-village-woodfin-sells-36-6-m/740368001/

Bon Appetit and Buxton Hall BBQ

September 14, 2017

We are proud to have represented the visionaries behind Buxton Hall in their beautiful space on Buxton. This write-up in Bon Appetit simply recognizes what Asheville already knows – this BBQ, and the space where it is served, are amazing!

http://www.bonappetit.com/story/buxton-hall-asheville