The Colonnade, which opened in Atlanta nearly a century ago, is for sale.
The 9,000-square-foot restaurant, which has seating for 300 guests, is listed for $975,000, and the monthly rent is approximately $18,500. The interior also includes a private event space and a full bar and lounge.
The listing stated the gross sales for 2023 at about $2.2 million, with a net profit of $367,276 according to the Schumacher Group listing.
The new owners can keep the restaurant open as-is, or open a new concept in the space.
The Colonnade was located in a white-columned house at the corner of Lindbergh and Piedmont from 1927 to 1962, when it moved to its current location at 1879 Cheshire Bridge Road.
Ryan Fleisher
Ryan Fleisher
A 29-year-old Paul Jones purchased the restaurant from Jack Clark in 1979. Jones’ daughter, Jodi Stallings, and her husband, David, now own and operate the eatery, which is known for Southern staples including fried chicken, fried shrimp, turkey and dressing, salmon croquettes and pot roast, as well as its martinis.
The listing does not mention why the owners are selling the restaurant.
In 2020, the Colonnade was on the brink of closing due to the economic impact of the pandemic. A GoFundMe campaign was launched on behalf of the restaurant, with the goal of raising $100,000 for rent, utilities, food supply and to make payroll for a whittled-down staff of 36.
“It’s to basically stay afloat,” Stallings told The Atlanta Journal-Constitution at the time. “It might be ambitious, but anything helps. It’s uncertain right now for everybody in business, but especially if you are a mom and pop.”
The fund ended up raising nearly $125,000.
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