Invest Around theThe Great Smoky Mountains National Park

Here’s a great insider tip! Now is the time to invest in commercial real estate within 60 miles of the Great Smoky Mountains National Park.  Visitors spent $953 million in the 60 mile radius around the park last year.

Contact us to find out more about income-producing properties in that vicinity.

https://wlos.com/news/local/smokies-national-park-953m-in-2018-local-visitor-spending

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The stories behind commercial real estate

On the surface, it may seem that commercial real estate is just about the numbers: how much money a person can make off an investment over a long period of time. And that is part of the story. But commercial real estate, especially in a place like Asheville, is as rich and diverse as it’s people.  It’s the small restaurant that was started by someone with no formal cooking experience and big dreams who now has a line out the door every day. It’s the art gallery that brought an old dilapidated building on an empty corner back from ruin and filled with buyers. It’s the former run-down old skating rink that’s now a popular barbecue restaurant written up all around the world. And it’s the former auto shop that two women with a food truck knew would make an amazing spot for a beer garden.

Every time we work with someone, we get to know and be a part of their story and that is, by far, the best part of this business. There is money to make, and return on investments to worry about, and interest rates and CAM fees. But it’s so much more than that. It’s about being a part of a community, one building, and one story at a time. What’s your story? We would be honored to be a part of it.

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It's Official! Ticket Sales Have Launched for ChowChow Asheville

Ellington Realty Group is a proud sponsor of the Urban Trail event at the very exciting upcoming food festival, Chow Chow.

From chowchowasheville.com:

Asheville, NC’s new culinary spectacular, Chow Chow, welcomes everyone to the table September 12-15, 2019. Named for a piquant vegetable slaw that has perked up generations of Appalachian dinner plates, this immersive festival celebrates the bounty of the ancient landscape that envelops the city. Here where food and creativity flow like the rushing streams and rivers of the surrounding Appalachian Mountains, local taste-makers prepare and share meals that nourish the soul as well as sustain the land.

The festival’s lineup includes grand tasting events, chef demonstrations, charitable collaborations, and a unique array of hands-on experiences in and around town. In Asheville, the table is always set—and Chow Chow invites all to feast on the abundance.

Go to chowchowasheville.com for tickets to the events. You don’t want to miss this!

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Welcome Dawn Carlton to Our Team as Property Accountant

We are pleased to announce the addition of Dawn Carlton to our team as Property Accountant. Dawn brings years of experience in accounting, property management and real estate. Her insight is extremely valuable as we continue to grow.

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CBS This Morning Features Chai Pani's Meherwan Irani

CBS This Morning featured Chef Meherwan Irani of Asheville’s famed Chai Pani, this past weekend. His Indian street food is breaking barriers and changing the way people view Indian food in the United States.

Our broker-in-charge Burns Aldridge is proud to have helped the Iranis secure their first Chai Pani space on Battery Park in downtown Asheville, in 2009.

Watch the video here:

https://www.cbs.com/shows/cbs_this_morning/video/u15u7wDO6_RsSux0NOmi6C3WNFnTbNae/chef-meherwan-irani-on-bringing-indian-cuisine-to-america/

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New Restaurant Galactic Pizza Opens

Ellington Realty Group is proud to have worked together with these great folks in the lease for this fantastic new pizza joint near Brevard Road. Make sure to go, and check out the gorgeous handcrafted bar top while you’re there.

As reported in the Mountain Xpress on November 6, 2018:

Admiral+Desoto+Tastee Diner=Galactic

Galactic Pizza, one of West Asheville’s newest restaurants, has a solid West Asheville pedigree. Owners are Jonathan Robinson, part owner of The Admiral, and Natalia Robinson, of Tastee Diner. Other owners are Sabrina White and Tim McMurrin, owners of Desoto Lounge, and Doug Ellington, who owns the Sardis Road building that Galactic Pizza is in. Galactic Pizza opened Thursday, Oct. 25, serving New York-style pizza with a crust made from cake yeast, which gives it a moistness that dry yeast doesn’t, Jonathan Robinson says. The restaurant will offer standard toppings, but also homemade vegan pepperoni and cheese. The chicken banh mi pizza was a big hit during the soft opening in late October, he says.

Galactic Pizza is at 339 Sardis Road. Hours are 11 a.m.-11 p.m. Sunday through Thursday and 11 a.m.-midnight Friday and Saturday.

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Chai Pani Owners Expanding Their Indian Street Food Empire

One of the very best parts of our job is working with the innovative, driven and deeply interesting clients that we work with. One of the  best examples of those is long-time Ellington Realty Group clients Meherwan and Molly Irani of the famed Asheville restaurant Chai Pani.

Eater Atlanta published last week:

Chai Pani and Botiwalla chef-owner Meherwan Irani is expanding his Indian street food mini empire. Irani has confirmed he is opening three more metro Atlanta Botiwalla locations in the next year, and as many as eight to ten more locations over the next five years throughout the southeast. Irani’s future plans could include as many as 50 Botiwallas.

Read More:

https://atlanta.eater.com/2018/4/19/17256006/botiwalla-chai-pani-meherwan-irani-expansion?mc_cid=f8587aeb39&mc_eid=%5bUNIQID

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Asheville Mall Sears store to close in July

According to a report on money.cnn.com, between 20% and 25% of American malls will close within five years. That kind of plunge would be unprecedented in the nation’s history.
The reasons are nothing new. People are shopping online more than ever, and that trend is expected to keep growing. Foot traffic at malls has been on the decline for years. The report estimates that as malls close, online sales will grow from 17% of retail sales today to 35% by 2030.

There are also, quite simply, too many stores after years of new mall construction caused a retail bubble.

The closing of the Sears at the Asheville Mall is no surprise. A redevelopment plan is in the works however, to repurpose the space instead of the entire mall closing.

https://www.citizen-times.com/story/news/local/2018/04/17/asheville-mall-sears-store-close-july-2018-heres-what-we-know/520703002/

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Chai Pani Launches New Look

We were proud to have represented the fine owners of Chai Pani when they opened their very first location on Battery Park. Now, that space has just undergone a renovation where the flavors can be bigger and better than ever and the restaurant can better serve it’s loyal customers.

, for the Citizen-Times, tells more:

https://www.citizen-times.com/story/news/local/2018/03/06/gallery-ashevilles-chai-pani-launches-new-look-expands-menu/396153002/

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Would you live at the Asheville Mall? It may be on possible with this developer's plan.

ASHEVILLE Citizen-Times— In an era when shopping malls are fading into oblivion, the Asheville Mall has no intention of following suit. Part of its strategy? Living there.

A preliminary permit plan submitted last month by Seritage SRC Finance LLC to the city’s development services department details a $45 million redevelopment project in and near the mall’s Sears store.

Plans show the addition of restaurants, retail stores, a 10-screen multiplex movie theater and a six-story structure with 204 multifamily housing units. It likely would be among the largest single investments at the facility since it was built in the early 1970s.

Even in Asheville’s modern development culture — where rental housing is necessary, given a period of sustained demand — the project could be a game-changer, at least as far as the mall’s long-term viability is concerned. Its addition differs from tradition in the shopping-heavy corridor of Tunnel Road, and from enclosed shopping malls, in general.

Read more here:

http://www.citizen-times.com/story/news/local/2018/01/11/would-you-live-asheville-mall-redevelopment-plan-raises-questions-intrigue/1012682001/

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