Thursday, July 7, 2016

Dave & Buster's to "Play" in Alpharetta

The new Dave & Buster's logo that was introduced in 2013 
New entertainment facility planned for Alpharetta

A new Dave & Buster's is being proposed in place of  the former Regal Cinemas North Point Market 8 on North Point Parkway, across from North Point Mall.  The theater, which originally opened as a United Artists multiplex with the shopping center in 1994,  was subsequently converted to the branding of later parent company, Regal Cinemas.  Regal closed the North Point theater in early November of 2014.  About the same time, Regal Cinemas opened a new state-of-the-art 12 screen theater complex at Avalon, a new lifestyle center just north of the North Point area on Old Milton Parkway.  The North Point area continues to be served by two AMC Theatres complexes, AMC Mansell Crossing 14 and AMC North Point 12 which opened as an anchor of North Point Mall in September 2012, replacing former anchor Parisian.

The proposed Dave & Buster's would be just under 35,000 square feet, making it the smallest for the chain in the Atlanta market. 

Current Dave & Buster's locations in metro Atlanta include the original complex in Marietta (53,000 s/f) which opened in 1994, Duluth (58,000 s/f) which opened in 1999 (in a portion of the former Incredible Universe) and Lawrenceville (61,160 s/f).  The Lawrenceville location opened in Discover Sugarloaf Mills in late 2009 in what had originally opened in late 2001 as Jillian's, a similar concept.  (Dave & Buster's purchased and converted a number of Jillian's locations around the same time having opportunistically acquired them  amidst the rival's Chapter 11 Bankruptcy filing.)

The Dave & Buster's website lists their specifications for freestanding or inline locations:

• 26,500 square feet (+/- 1,000 square feet) OR 40,000 square feet (+/- 1,000 square feet)
• Midway Seating: 50
• Special Events Seating: 200
• +/- 175' x 200' Footprint
• 300 to 400 Parking Spaces (can be shared)
• Two-Level Storefront Height/Facade • Clear Height = +/- 16'0"


Demographics

700,000 to 1,000,000 daytime population (within 10 miles)

The property flyer for North Point Market Center indicates a 2016 daytime population within 7 miles of about 328,500. The same flyer suggests that the Dave & Buster's space has 370 parking spaces in front of the building.  
A request by Dave & Buster's for a liquor license, including beer, wine & liquor - Sunday sales, is due to be heard before the Alpharetta City Council on July 14th at 2PM.

While the liquor license must still be approved, a representative from CBRE, who handles the center's leasing, indicated that a definitive lease has been signed. 

The first Dave & Buster's opened in 1982 in Dallas, Texas. Today the company, which went public in 2014 (NASDAQ: PLAY), operates about 90 locations in nearly 30 states. According to the Dave & Buster's website, the average unit volume (AUV) of one of their complexes is $10.1 Million.

Dave & Buster's joins a growing roster of entertainment facilities near North Point.  Fellow Dallas-based entertainment facility Main Event Entertainment opened a 65,000-square-foot complex at 10700 Davis Drive, less than two miles from the Dave & Buster's.  Main Event, which opened in mid 2014, replaced a former Home Depot EXPO store.   Main Event features "state-of-the-art bowling; multi-level laser tag; gravity ropes adventure course; over 100 interactive, virtual and video games; regulation size billiard tables; full-service bars; quality dining experiences and free Wi-Fi access."  A second Main Event later opened on Cobb Parkway at Parkway Pointe.
Main Event's Alpharetta location 
Topgolf, yet another Dallas-based enterprise opened its first Atlanta area location in Alpharetta in May of 2014.  The upscale, three-level driving range, sports bar and event space opened on Westside Parkway, about three miles from Dave & Buster's.  A second Topgolf has since opened on Ellsworth Industrial Boulevard on Atlanta's Westside.

Austin, Texas-based iFLY, an indoor skydiving facility, had sought to open a location in Alpharetta but after having its plans voted down by the Alpharetta City Council, is moving forward with a site near Cumberland Mall Cobb county.

In addition to the aforementioned entertainment options, North Point Mall is home to Atlanta's only American Girl Boutique & Bistro.


Do you think Dave & Buster's will do well in their planned location? Do you prefer Dave & Buster's or Main Event?  What else would you like to see open around North Point?  Are you surprised to see the amount of interest in the North Point market even after the opening of "mall-killer" Avalon?

Please share your thoughts below

1 comment:

Brionna Richards said...

That's awesome! Bring on the entertainment and variety! They were once rumored to be coming to Lithonia's Stonecrest Mall, but those rumors died. Another rival, Round 1 Entertainment is instead coming to Stonecrest.