BY: Angela Veugeler
Whether you are looking for office space, a nice meal, or some quality shopping, if you haven’t been to Suwanee Jubilee Shopping Center recently, perhaps you might want to check it out. Located on Peachtree Industrial Boulevard just south of McGinnis Ferry Road, Jubilee is home to upscale grocer The Fresh Market, restaurants Cinco and Suwanee Pizza Tavern, and boutique shop, Parsons Gifts, to name a few. Jubilee Shopping Center is under new ownership, and the new owners have big plans for the center.
In October 2013, the shopping center was purchased by Urbana Suwanee Jubilee, LLC. Steven Franco, Allan Gutierrez and Rick Steele, principals of the Atlanta-based company, also handle the management of the center. Before making the purchase, the team did their research.
According to the owners, the high quality of the center, the elegant look, the great demographics of the Suwanee area, and having The Fresh Market as an anchor all played a part in their decision to make the purchase. Additionally, it was “a great buy”, and the team specializes in turnaround assets.
The owners’ plans for the center include creating synergy between the tenants. According to Franco, whose background includes shopping center redevelopment, “leasing is the most important aspect of the shopping center’s success.” The lower plaza is geared toward upscale retail tenants, and the upper plaza is more service-oriented tenants. Some possible future tenants could be a spa, specialty clothing boutiques, a hobby or children’s store, and there is also a great space for another restaurant with an outdoor patio.
The new owners are also working on plans to welcome shoppers and create events that will draw patrons and customers to the center.
Franco said leasing activity is strong. They are navigating through the prospects and are working to ensure the best placement for new tenants.
Principals of Urbana Suwanee Jubilee, LLC own another shopping center in Lilburn and are in the process of acquiring more assets. According to their website, Urbana actively pursues acquisition opportunities of well-located properties in need of renovation or repositioning in the marketplace. In addition, the company has owned several resorts, hotels, and office buildings throughout the southeast.
For more information on Urbana Suwanee Jubilee, LLC, visit urbanaholdings.com. ■