Broker targets restaurants not already in Columbus for former Logan’s Roadhouse property
A commercial real-estate firm has already begun work to fill the prime property vacated Sunday night by Logan’s Roadhouse, with the preferred target a restaurant not already in the Columbus market.
Names that have surfaced as a possible successor to the former Logan’s space at 2643 Manchester Expressway include Sticky Fingers Ribhouse, Tin Lizzy’s Cantina and Taco Mac, regional restaurant and sports bar chains that have developed loyal followings in areas of the Southeast.
“Obviously, the ideal target for us is going to be another restaurant,” said Ed Adams, a broker with Kennon, Parker, Duncan & Davis in Columbus, an affiliate of Coldwell Banker Commercial. “The great thing about that property is it’s on what I would consider one of the best intersections in the city. It might not be the busiest, but it’s got the most visibility and the best access.”
More: Logan’s Roadhouse closes its doors suddenly in Columbus
Adams discussed his marketing plans Monday for the 1.5-acre property that includes the 8,500-square-foot restaurant structure at the corner of Manchester Expressway and Armour Road. Just under 39,000 vehicles pass the location each day from various areas of the city. Nearby are traffic generators Peachtree Mall and Columbus State University, with the large St. Francis Hospital complex just to the west.
Logan’s Roadhouse closed its doors on Sunday night, ending a 22-year run at the location. The Nashville, Tenn.-based chain has been whittling down its locations for the past 18 months, typically shutting the doors at underperforming locations as leases expire, which occurred in Columbus.
“Our goal is to find another restaurant user, hopefully something that Columbus has never seen before,” Adams said. “But it would need to be a user that’s well versed and has experience in the restaurant business. We’re not going to try to open up an entrepreneurial thing.”
Thus, he mentioned Sticky Fingers, Tin Lizzy’s and Taco Mac as among the possibilities, along with other restaurant companies that will be contacted to judge their interest in Columbus in general and, more specifically, the Manchester Expressway site.
Mount Pleasant, S.C.-based Sticky Fingers was founded in 1992 and proclaims that it has been serving real Memphis-style barbecue since then, having grown to a dozen locations in South Carolina, Tennessee, North Carolina and Florida.
Atlanta-based Tin Lizzy’s Cantina dates to its 2005 launch by a group of college friends in Buckhead. The small chain serves up what it calls “FlexMex” cuisine with plenty of margaritas flowing past the lips of customers. Most of its 14 locations are in Georgia, with a couple in South Carolina and one in Florida.
“I would say they’re a mix between a Chipotle and a Wild Wing Café, where they have the Southwest TexMex-type of menu, and the bar and entertainment value like a Wild Wing Café,” Adams said.
Taco Mac, according to its website, was born in 1979 when two guys from Buffalo, N.Y., ventured through Atlanta, found that they really liked the sunny weather, then decided to stay and open up a restaurant-sports bar that serves tacos, burgers and wings, but is very well known known for its large variety of beers. The chain, which touts a “Brewniversity” loyalty program, has grown to 28 locations, all but four in Georgia and those are primarily in the Atlanta area.
Should a restaurant tenant not be found for the Manchester Expressway property, Adams said there’s a possibility that a retail user would be considered. Could it be a Walgreen’s store and pharmacy? Anything is possible he said, with nothing off the table, although major construction would be required for a tenant that isn’t a food establishment.
“To convert a restaurant building to a retail building is almost cost prohibitive,” he said. “What you would have to end up doing is tearing the building down and redeveloping the site. From our standpoint, representing the owner, we would like to go the easiest route possible.”
One element of the site that should make his job somewhat easier, the commercial broker acknowledged, is the fact that the property is located across from a new Chick-fil-A restaurant that opened last summer at the high-traffic intersection. He said the chicken sandwich king has a top-notch real-estate department that scouts and secures land for new locations that will be successful long term and pay off with high, consistent customer traffic. That commitment for the location by Chick-fil-A could sway those considering the area, he said.
The bottom line, Adams said, is making the right decision for the site, which will likely be home to the next tenant and its frequent customers for at least 15 or 20 years, if not longer based on typical lease agreements. The property is being marketed at a lease rate of $25 per square foot, which amounts to just under $18,000 monthly.
“We feel that anything we bring in there is going to be something new, it’s going to be something fresh,” he said. “It’s not going to be something that we just stick them in the same building and call it a day. Anyone we bring in, they are going to want to do something with the building, freshen it up and really add to that intersection.”
This story was originally published February 20, 2018 at 7:47 AM with the headline "Broker targets restaurants not already in Columbus for former Logan’s Roadhouse property."