Locally based Derek Lawford Pubs plans to open The Spotted Dogin the white-bricked, three-story structure, one of the city'soldest properties housing a former firehouse. The 10-year lease hasan estimated aggregate value of $1.8 million, or about $20 persf.
Inman president Jeff Notrica bought the building in January fromFiremasters LLC for $2.75 million, or about $305.55 per sf--anastronomical price for a 96-year-old structure. But Notrica wasbuying location primarily, confident the investment would turn outto be a no-brainer.
"The Midtown restaurant and retail market is incredible," hetells GlobeSt.com. "The fire station's proximity to Georgia Tech'svillage-scale conference center and hotel, as well as the campusproper combined, with access to MARTA, I-75 and I-85, make it veryaccessible and highly visible."
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