Tuesday, August 14, 2018

[UPDATE] Sage Woodfire Tavern on Powers Ferry Road For Sale

Atlanta-based restaurant brokerage The Shumacher Group earlier this week listed the Sage Woodfire Tavern in Cobb county for sale.  The restaurant, at 3050 Windy Hill Road at Powers Ferry Road, opened last summer in a building that for many years operated as Houston's.  The freestanding restaurant, which measures about 7,800 square feet, is near both the Wildwood office park as well as SunTrust Park. 

The listing indicates that the restaurant provides seating for almost 300, bar seating for 14, plus outdoor patio seats for 20.  The restaurant also has parking for 100 vehicles.  James D. Liakakos, the restaurant's owner, signed a ten year lease at $24,500 monthly, "all in."  The lease includes two five year options to renew. 

Any buyer is invited to keep the restaurant as is under the Sage name under a licensing agreement or convert it to another concept.  The listing does not indicate its sales but does say that "2018 is profitable" and that books and records are available.  The restaurant would apparently come to its would-be new owner with  "Staff in place with strong General Manager and Executive Chef." 

The restaurant (but not the real estate it occupies) is priced at $225,000, which is reportedly "way below market and opening costs."

ToNeTo Atlanta reported late last month that a number of entities related to Sage had filed for Chapter 11 bankruptcy.  In addition to the Powers Ferry Road location, Sage has other locations on Haynes Bridge Road in Alpharetta, on Ashford Dunwoody Road across from Perimeter Mall and their newest, on Peachtree Road in Buckhead, which opened just this past May.  

Since our first report, a member of Sage's leadership team contacted ToNeTo Atlanta alleging questionable payroll practices, refusal to pay overtime and the categorization of all staff as hourly employees.   

All in all, it looks like the Sage Woodfire restaurants may have more than one fire to put out.  

Are you surprised by the issues facing Sage Woodfire Tavern?  Do you think more locations will close?  What would you like to see open in the Sage on Powers Ferry Road?

Please share your thoughts below 


Anonymous said...

This ghetto going down! Bye!

Anonymous said...

I'm sad about the situation. I like their restaurants but it sounds like they drastically over spent. I don't think they will recover from it

Anonymous said...

That is a difficult location. Maybe with increased traffic with the stadium, the right concept can make it there. When it was Houstons, I believe it was the lowest grossing Houstons in Atlanta. If Houstons has trouble there, I think it will be more difficult for others. Office workers in the area pretty much head for Dodge after work and the residential population is too far away.

Anonymous said...

Houston's still made millions. maybe low for their standards but exceptional for others. I agree that the location is good on weekdays and not so much weekends but rose and crown kills it... Maybe they should move in that spot. Sage always looked shady! Ugly restaurant!

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