Joint venture partners and real estate developers and investors CONNOLLY and Eden Rock Real Estate Partners have announced the groundbreaking of the Kroger at MarketPlace Terrell Mill, a $120 million mixed-use project at the intersection of Terrell Mill Road and Powers Ferry Road in Cobb County. Construction commenced on March 29, 2022, with an anticipated opening in April 2023.
Kroger is constructing a 90,000 square-foot building on a 10.8-acre parcel of land. Planned features include a drive-through pharmacy, a dedicated area for online order pickups, and an 18-pump Kroger Fuel Center.
The new store will replace an existing Kroger less than half a mile from the center, which was built in 1983 and is approximately half the size of the new store.
“Our vision for MarketPlace Terrell Mill has always been to assemble a selection of retailers, restaurants, and service providers that would enhance the quality of life for those living in our residential community, Marketplace Village, as well as the many neighborhoods within a short drive of the center,” J.R. Connolly, chief executive officer, CONNOLLY, said in a press release. “Kroger is a final piece in this puzzle, and we are excited to welcome them to MarketPlace Terrell Mill.”
Kroger joins a line-up of restaurants and services at this village-style destination situated on the northwest corner of Powers Ferry and Terrell Mill Roads in East Cobb. CONNOLLY developed, and subsequently sold, parcels that house Chick-fil-A, Panera Bread, Regions Bank, and Wendy’s, all of which are open and operating. Extra Space Storage occupies a 98,676 square-foot building.
A 13,234-square-foot multi-tenant building is under construction with a scheduled opening for fall 2022. Tenants include Los Abuelos Mexican Grill, Ideal Dental, and Lush Nail Bar. A 3,528 square-foot endcap space with a patio, well-suited for a restaurant, is the only remaining available space.
The residential component of the project, Marketplace Village, is a multifamily community of 298 one- and two-bedroom apartments with high-end finishes and luxury amenities, including a resort-style pool, fitness center with yoga room, game room, and speakeasy lounge. Completed in 2020, the three-story complex is currently 95 percent leased.
MarketPlace Terrell Mill is situated on nearly 24 acres, comprised of eight land parcels that CONNOLLY and Eden Rock Real Estate assembled in 2018. Among the original occupants of the land was Brumby Elementary School which was relocating to a new facility and distressed office and retail buildings dating back to the 1960s and 1970s. CONNOLLY and Eden Rock worked closely with the Cobb County Commissioners and the surrounding community to create a master plan to redevelop the land into an attractive destination that set new standards for the entire corridor. The mixed-use village features cohesive architectural elements in a Colonial/Williamsburg vernacular and offers pedestrian-friendly access throughout the site and to surrounding amenities.
“Together, we have revitalized a blighted area into a thriving corridor that serves the local community by delivering a new, market-leading supermarket as well as a variety of high-quality dining establishments and service providers,” Brandon Ashkouti, partner, Eden Rock Real Estate Partners, said. “This was a complex project with many stakeholders, which took nearly six years to assemble and entitle. We are honored to be part of the positive transformation and value generation happening in this area of East Cobb.”