Michigan’s Retail Landscape Takes Center Stage: The Story of Amy Fingerhut
Welcome to the bustling city of Atlanta, where delicious food and vibrant retail spaces come together to create a unique atmosphere. One woman who’s been a key player in shaping this environment is Amy Fingerhut, a senior vice president at CBRE in Metro Atlanta. She’s not just any retail broker; she’s one of the most prolific figures in the residential market, working behind the scenes to ensure that hungry Atlantans have tasty spots like Fox Bros. BBQ, True Food Kitchen, and Farmburger to enjoy.
A Evolving Retail Scene
Despite the challenges posed by the pandemic, which saw the percentage of food and beverage spaces explode from 20% to nearly 50% in shopping centers, Amy remains optimistic yet cautious about the restaurant landscape. She acknowledges the surge of new dining options available, but warns of possible cracks within this booming market. “We are already seeing cracks since the market doesn’t support all of them,” she notes.
From Restaurant Dreams to Real Estate Reality
Interestingly, Amy didn’t start her career in real estate. Her journey began in the restaurant world, where she worked for 13 years while studying for her degree in restaurant and hospitality management at the University of Georgia. She had dreams of opening her own eatery, but the reality of long hours and limited profits led her to pivot into real estate. “I love, love, love what I do,” Amy says, explaining her passion for helping restaurants thrive in Atlanta’s competitive landscape.
The Changing Landscape of Retail Rents
During her career, Amy has witnessed retail rents in Atlanta soar to levels many did not anticipate. While the city is now one of the top 10 in the U.S. based on growth and population, Amy points out that Atlanta’s unique tourism patterns make it different from cities like New York, LA, or Chicago. “I think retail rents across the United States are actually at unsustainable levels,” she warns. “It’s going to be a challenge for us as we move forward.”
Future Predictions
Looking ahead, Amy believes that with increasing rents and consumer spending concerns, we could see a shift in the market. “I think we’re going to start to see a pretty concerning amount of space come back to the market based on how the holidays go,” she admits. Her insights point towards a cautious optimism, leaving room for new opportunities in the industry.
The Role of Community in Restaurant Success
Amy also highlights the importance of local community support for restaurants, especially in a growing, youthful city like Atlanta. “we have an incredible local scene,” she remarks, noting that past years have seen a surge in entrepreneurship and up-and-coming chefs eager to bring their flavor to the city. However, she also cautions that quick expansions without careful planning could lead to closures. “If we don’t have smart operators, we could see a lot of closures,” she warns, emphasizing a balance between growth and sustainability.
Women Making Waves in Commercial Real Estate
As a woman in a traditionally male-dominated field, Amy has been vocal about the evolution of gender representation in commercial real estate. She sees women making great strides in the industry, noting the growing presence of female professionals in retail, industrial, and office sectors. “Women will continue to grow in commercial real estate,” she believes, and Amy is hopeful for a future where this trend persists.
In Conclusion
Dining and shopping experiences in Atlanta are bursting with flavor and personality, thanks to hardworking individuals like Amy Fingerhut. She’s not just reshaping the retail landscape; she’s fostering a sense of community where food lovers can indulge in new culinary adventures while supporting local businesses. As the future unfolds, all eyes will be on this ever-evolving landscape, and Amy’s passionate insights are sure to resonate as we witness the remarkable story of Atlanta unfold.
