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Regions Bank Cashes in on Former Pollo Tropical in East Cobb

Birmingham, Alabama-based Regions Bank has leased the former Pollo Tropical restaurant in East Cobb and plans to build a new branch in its place.  The Miami-based chicken chain opened its freestanding restaurant on September 9, 2015 and closed it October 25, 2016.  The restaurant building, which was located in an out-parcel of the Kroger-anchored Parkaire Landing shopping center on Johnson Ferry Road, replaced what had most recently been a Shell gas station. 

Sources say Regions plans to demolish the newly built, roughly 3,600 square foot restaurant, and replace it with a roughly 2,500 square foot bank branch.  

There is currently no timeline for when the demolition/construction will begin.  

There was reportedly at least one quick-serve restaurant interested in the space, but apparently Regions was either first or offered a higher price. 

Real estate sources say that East Cobb is an especially popular banking market with Chase Bank, PNC Bank, Wells Fargo, SunTrust, and Bank of America each with multiple locations in the area.  

PNC opened a new branch at Lower Roswell and Johnson Ferry Roads in place of an Exxon gas station last summer, while Chase opened a new branch in place of a former restaurant space on Johnson Ferry Road in 2011. 

Regions is ranked sixth in the Atlanta Metropolitan Statistical Area (MSA) with about  3% of the market. By comparison, Atlanta-based SunTrust Bank ranks 1st with about 20% of the market.  

Regions Bank also plans to open a new branch at the 365 by Whole Foods Market-anchored North Decatur Square shopping center near Decatur.  The bank will have both a branch and a stand-alone drive thru.  

Are you surprised by this restaurant replacement?  Do you think other Pollo Tropical restaurants will close in metro Atlanta? What is your local bank of choice?

Please share your thoughts below. 

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