Shopping Center Business

OCT 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Page 64 of 84

ATLANTA DEVELOPMENT 62 • SHOPPING CENTER BUSINESS • October 2018 of 14th and Spring streets in Midtown. Whole Foods also anchored two recently developed shopping centers in Kennesaw and Chamblee, both of which recently sold. (See Atlanta investment article on page 64.) BUILDING DENSITY IN THE SUBURBS There are several mixed-use de- velopments popping up in metro Atlanta that can't be reached via MARTA. Likely the most visible of these is The Battery Atlanta, the 1.5 million-square-foot mixed-use village surrounding SunTrust Park, the new home of the Atlanta Braves. BDC and Fuqua Development deliv- ered the first wave of retail and restaurants to the project back in April 2017, which included entertainment destinations like Sports & Social and the Coca-Cola Roxy theater. In recent months, BDC has executed a new round of leases with concepts that will add to The Battery's unique offerings. These include Silverspot Cinemas, The Void, Rock/Creek, The Escape Game and Allure Nail Bar. Savi Provisions, a neighborhood gro- cery concept that sells gourmet food, wine, spirits and Jittery Joe's Coffee, is also making its way to The Battery when it will occupy the ground floor of the new Aloft hotel underway. "The Battery in Cobb County is an entertainment venue that has been really successful for the fan experience," says Emil Gullia, principal of Retail Specialists. "Cobb County has so much economic diversity that it will continue to be a real Steady Eddie of growth." Also in Cobb County, Halpern Enter- prises is building off the success of its Bel- mont mixed-use project in Smyrna by add- ing a second 12,000-square-foot building that will house Your Pie, Real Subs Café & Deli and F45 Training, a fitness concept originating in Australia. "We've been recruiting restaurants and services that were new to Smyrna and weren't going to be vulnerable to online shopping," says Halpern. In the East Cobb district, Fuqua De- velopment recently signed Publix Super Markets' small-format chain GreenWise to its first location in metro Atlanta. The organic grocery store will occupy space at Sandy Plains Marketplace in close prox- imity to an existing Target and Publix. Fuqua says that GreenWise stores will be situated near Publix's more successful stores in the Southeast. "They feel like it's a different trip," says Fuqua. Fuqua Development is also underway on a 65-acre mixed-use project on the outskirts of the metro Atlanta market in Buford, a city on the outer edge of Gwin- nett County. Dubbed The Exchange, the $250 million project will sit in close prox- imity to Simon's Mall of Georgia and will include 500 multifamily units. "This is going to be the place for Gwin- nett County, this is it. There's going to be a food hall, restaurant park, entertainment venues, fitness, grocery, retail and mov- ies," says Fuqua. "We've been working on this for years. In terms of modern retail development, this is nirvana in its tenant mix. We have committed tenants I can't talk about yet, but it's really going to be amazing." The Exchange isn't the only project coming to the I-85 corridor in Gwinnett County. NAP has announced a $900 mil- lion mixed-use development in Duluth that will give a facelift to a campus that draws plenty of its own fanfare. Situated off Satellite Boulevard with high visibility from I-85, the campus is home to Infinite Energy Center, Forum Convention Center, the Performing Arts Center and the Hudgens Art Center. Between these four venues, the campus hosts roughly 1,000 events a year, which NAP's Weinert says is an ideal base to build a large-scale mixed-use project. "There's always things going on there in a big way," says Weinert. "Whether it's U2, Justin Timberlake, hockey games, graduations or conventions. The Per- forming Arts Center is always sold out. It's remarkable." NAP used its successful Avalon project in Alpharetta as a template in its design of Revel. "Revel will feature a main street-style boulevard just like Avalon," says Wein- ert. "The project will have four levels of residences above retail, four levels of loft offices above retail, two existing office 757.614.1989 Jon Wheeler at Laura Nguyen at ✔ Grocery anchored neighborhood shopping center on average of 100,000 square feet ✔ Located in the Mid-Atlantic, Southeast, Midwest and Southwest secondary sub market locations within 50 miles of top MSAs ✔ Single asset or portfolio opportunities considered SEEKING C O M M E R C I A L PROPERTIES

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