Tuesday, December 28, 2010

Chase Bank Taking a Bite out of Vacancy at The Peach

The Shopping Center Group is getting creative with leasing space these days. With a vacant Linens 'n Things big box at The Peach shopping center on Peachtree Road in Buckhead, the group signed Chase Bank to take a portion of it and will later fill the remaining portion with smaller retail.

Washington Mutual entered the Atlanta banking market in 2001 and continued to grow its network, opening dozens of new locations over the years. Around 2006, a number of branches were closed. In 2008, when Washington Mutual was the largest bank failure in U.S. history, it was purchased by Chase Bank and they began rebranding WaMu branches in 2009.

Just over a mile away, Chase has an existing location from the WaMu days in the Disco Kroger shopping center on Piedmont Road which will remain open to compliment the new location within the Peach Shopping Center. Unlike many new bank openings, both Chase Banks are located on end caps of shopping centers instead of stand alone outparcels. Similar to the Piedmont location, the new Peach branch will feature drive-thru banking with Peachtree Road access. The new branch is expected to open by February.

In other area news, Exxon, which was previously located across from the Peach Shopping Center and gas to close to make way for Walgreen's, will soon re-open on Peachtree. The new station will open between Grand China and Raja Indian in the former auto body shop. This should be welcome news to Buckhead residents who have had limited choices for a service stations on Peachtree in Buckhead.

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2 comments:

Anonymous said...

Banks and gas stations. Such exciting news in Atlanta's retail world.

The Anti-Gnostic said...

Much less "banks" ginned up from pure paperwork to qualify for bailout funds.