Thursday, October 31, 2019

[CLOSURE ALERT] Tuesday Morning Closing Two Stores, Hoping to Reopen Elsewhere

Off-price housewares retailer Tuesday Morning notified customers Wednesday that it will not only close its location at Midtown Promenade on Monroe Drive in Midtown, but also its Buckhead store. The Buckhead store, located in Buckhead Square at the corner of Peachtree and Piedmont Roads, is behind Haverty’s , and according to local ToNeTo Atlanta readers has been in business for more than 40 years. 
Tuesday Morning Midtown 

The Buckhead store measures nearly 16,000 square feet with the Midtown location coming it at about 9,000 square feet. Both stores are currently offering 10% off all in-stock merchandise (including sale/clearance merchandise) with the Buckhead store slated to close December 31 and the Midtown store on January 5 or until each sells out.  

Selig Properties, which owns Buckhead Square, and Asana Partners, which this past January purchased Midtown Promenade, are both reportedly actively marketing their upcoming vacancies.  

Asana, based in Charlotte, has been on a buying spree, especially in Atlanta, and seems keen on acquiring centers and parcels near the BeltLine.  Real estate sources tell ToNeTo Atlanta that Asana is looking to replace both Tuesday Morning and Richard's Variety store, which is also closing in the center, with "higher, better uses," that will better fit the center and the surrounding community.  

The Buckhead store, which features limited access and zero street visibility, was reportedly still performing well, but had seen a noticeable dip in sales reportedly due in large part to new-ish neighbors Exclusive Game, Icebox Jewelry and HeadMasters Barber Shop that brought plenty of traffic and congestion, but likely little to no cross traffic to Tuesday Morning.  

Sources close to the retailer indicate that the company would like to remain in the Buckhead and Midtown markets but has not yet found suitable new space.  A ToNeTo Atlanta reader indicates that plans in 2008 were for Tuesday Morning to relocate their Buckhead location to nearby Miami Circle but those plans fell through. 

Historically, the Dallas based company has sought C grade or lower retail, looking to minimize their rent obligations but still be present in markets.  The current Buckhead store, as well as the company's store on Montreal Road in Tucker, exemplify this strategy.  

That said, in recent years, the company has seemingly realized the value of better located stores in higher profile centers.  In Atlanta, this new outlook has led to relocated stores at Brighten Park in Brookhaven, Parkway Point near Vinings, and Parkaire Landing in East Cobb, among others.

Will you be going to the closing sales of the two Atlanta area Tuesday Morning stores?  If shopping brick & mortar, where do you do most of your housewares shopping?  What would you like to see open in place of the two stores closing in Buckhead and Midtown?

Please share your thoughts below.    


Anonymous said...

I don’t particularly shop at Tuesday Morning however from a business and real estate perspective they would do well in the newly reimagined Chamblee Plaza although I’d rather see something like a couple of true outlet stores like some of those at North GA outlets. Also they need to close up that awful buffet and sandwich shop and start at collection of nice local or regional restaurants that people want to patronize. Also can’twait until more is known about the major anchor that will drive the rebuild of the last part of the center.

Anonymous said...

buffet and sandwich shop

Where in the hell is that???

Anonymous said...

The silly low low quality Chinese buffet and the low low quality Quiznos. I don’t know how either pats rent. E landlord would do better to shut them down and post the space for lease.

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