Monday, July 24, 2017

Regions Bank Cashes in on Former Pollo Tropical in East Cobb

Birmingham, Alabama-based Regions Bank has leased the former Pollo Tropical restaurant in East Cobb and plans to build a new branch in its place.  The Miami-based chicken chain opened its freestanding restaurant on September 9, 2015 and closed it October 25, 2016.  The restaurant building, which was located in an out-parcel of the Kroger-anchored Parkaire Landing shopping center on Johnson Ferry Road, replaced what had most recently been a Shell gas station. 
Sources say Regions plans to demolish the newly built, roughly 3,600 square foot restaurant, and replace it with a roughly 2,500 square foot bank branch.  

There is currently no timeline for when the demolition/construction will begin.  

There was reportedly at least one quick-serve restaurant interested in the space, but apparently Regions was either first or offered a higher price. 

Real estate sources say that East Cobb is an especially popular banking market with Chase Bank, PNC Bank, Wells Fargo, SunTrust, and Bank of America each with multiple locations in the area.  

PNC opened a new branch at Lower Roswell and Johnson Ferry Roads in place of an Exxon gas station last summer, while Chase opened a new branch in place of a former restaurant space on Johnson Ferry Road in 2011. 

Regions is ranked sixth in the Atlanta Metropolitan Statistical Area (MSA) with about  3% of the market. By comparison, Atlanta-based SunTrust Bank ranks 1st with about 20% of the market.  

Regions Bank also plans to open a new branch at the 365 by Whole Foods Market-anchored North Decatur Square shopping center near Decatur.  The bank will have both a branch and a stand-alone drive thru.  

Are you surprised by this restaurant replacement?  Do you think other Pollo Tropical restaurants will close in metro Atlanta? What is your local bank of choice?

Please share your thoughts below. 

12 comments:

Anonymous said...

I visited Pollo Tropical for the first time last night on Lavista. Disappointing. The salsa bar was empty and closed. The dining room needed a good cleaning. The food was only OK, but not worth a return visit.

Anonymous said...

Well this exemplifies our disposable society. Tearing down a brand new building! I know many are bored with banks. I don't really care about that, but I hate to see another business that was potentially interested in the space (& likely to have used the existing structure) lost out...

jeff a. taylor said...

I know that bankers look at the demographics of East Cobb and think, "If could just get a PIECE of that..." but I don't know how they can make any money. People who go into bank branches are rapidly dying off. What do tellers do all day as it is?

Anonymous said...

This makes me sick. A beautiful, nearly new building torn down for a bank. Disgusting.

As far as the former restaurant, the food was great but the management was unprofessional. All it needed was a better management/ops team. What a waste!

Anonymous said...

OMG! I agree this makes me sick as well! What is with East Cobb? It has become the central location for banks, retirement homes and dentist! What a shame ... Very nice looking building to become another regions bank. We already have one on Roswell rd near Walgreen's and in front of a RETIREMENT HOME! I wish Burger King could save the day! Hell I'd take Fazolis or Hardee's over ANOTHER bank. Eye sore!

Dale Carnegie said...

^these snowflakes. It's called money. They bought it because the land was worth more to them even with the gear down. Capitalism at its finest. What about all the region customers? The every day hardworking Americans just trying to pay their mortgage or rent? The single moms having to go 4 miles with their newborn just to make a withdrawal. I say screw that. This is America. If you want a restaurant build one there's plenty of land for sale and if you can't afford it, tough luck my friend.

Anonymous said...

Question to those of you who are 'sick' over this: what would you do if YOU owned this property?

Anonymous said...

Why does this area need 2 regions bank within 5 miles of each other. What is this Noah's ark? Banks never go away so this area will be stuck with this eye sore for a long time. Damn!

ImAndy said...

The point here really is the waste. Their branches are kinda boring and ugly anyway this is a cool building that could easily be adapted. You have old chicken places adapted to urgent care centers and the like in Brookhaven/BuHi and you can never tell what it used to be.
Calling people snowflakes will get people to agree with your point of view every time.

Anonymous said...

Dang it!!!! Why did Kroger not replace the Shell gas station with a Kroger gas station? This would not be a problem now. We need one on this side of town anyway. Damn you Kroger and all your expired produce!

Anonymous said...

"This makes me sick. A beautiful, nearly new building torn down ..."

Beautiful?

SMH

Anonymous said...

At one point the restaurant was a Texaco gas station and later became a Shell Station.

My guess is the parking lot including the restaurant is not large enough for a Kroger Fuel station.

I agree with the other comments on the number of banks in East Cobb. Near the closed down Pollo is a building that once housed a Wells Fargo.

The area does not need another Mattress Firm.