Streetside Retail, a new Atlanta commercial real estate investment and development company, is wasting no time in redeveloping the Los Reyes restaurant site at 122 N. Morningside Drive.
One client already booked for the site is Peachtree Immediate Care. In an earlier interview, Bill Miller, chief executive officer of CRH Healthcare, confirmed the company is “taking about 60 percent of that building. Lankford Construction started recently and we will begin in about 60 days with our buildout. We are excited to enter the market and to extend our network north of our Acworth center.”
A second tenant is being sought.
The restaurant, a Cartersville tradition for more than 30 years, closed in March.
About Streetside Retail: The company is so new that its website is still under development and its Facebook page is just up and running. From the “about” section: “Streetside Retail is a commercial real estate investment and development company. We specialize in developing ground up real estate and acquiring shopping centers. Streetside also assists with leasing and managing real estate for our investors and partners.”
|Average Summer Gas Prices|
Gas prices in Georgia declined 3 cents last week. The state average of $2.79 per gallon is the lowest daily price in 20 days. Since peaking at $2.84 on May 27, gas prices have declined 14 consecutive days for a total of 6 cents. Despite the discount, motorists are still paying 59 cents per gallon more than this time last year.
Click here to view AAA state and metro gas price averages
- The most expensive gas price averages in Georgia are in Atlanta ($2.84), Athens ($2.83), and Gainesville ($2.80)
- The least expensive gas price averages in Georgia are in Warner Robins ($2.66), Augusta-Aiken ($2.66), Dalton ($2.66)
“Gas prices could drop another 5 cents this week, unless the market suddenly shifts course,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Prices at the pump are still adjusting to the recent drop in oil and wholesale gasoline, due to the potential of increased crude output from OPEC. However, there is still volatility in the market, and pump prices could move higher if OPEC decides against easing production cuts at a meeting later this month.”
Saudi Arabia increased production last month by 100,000 barrels a day, after curtailing output by nearly two years. The Kingdom was part of an agreement with other OPEC and non-OPEC oil producers to reduce output in hopes of raising oil prices. The production cut worked; the oil market tightened and crude prices reached near 4-year highs. However, there are growing concerns that strong demand would soon outpace supplies, and economies will suffer as a result of the higher prices. Because of this, the participants in this agreement are set to reconvene on June 22 to discuss increasing output.
U.S. crude prices settled at $65.74 per barrel on Friday – a 7 cent decline from the week before, and $6.50 less than this year’s high.