Midtown Atlanta: Fancy

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and , partners in 12th & Midtown on and Jamestown, the developer reshaping 999 Peachtree, continue to chas and a new prospect, Dick’s Sporting sources familiar with themarket say. CB2, an offshoot of home furnishings chain gearedc towardGeneration Y, also recentlt confirmed to Atlanta Business Chronicle that it’ds considering whether to enter the Atlanta Selig and Daniel have been trying to land the CB2 is interested in West Midtownm as well, sources said. The focus on frugapl rather than fancy comes asthe high-enfd market continues to sputter, with some analystzs saying it may not begin to recover until 2011.
As Midtowb real estate developers have tried to line Peachtree with new storefrontws in the pasttwo years, the effortr has included the pursuit of luxury clothing designefr Tom Ford, whose flagship store is on Madisojn Avenue; Prada, famous for opulenyt handbags and sunglasses; and , also known for its high-endr accessories. In recent years, Seligv Enterprises said it wanted luxury retailers and flagship stores to locatein Midtown. However, many of thoser retailers have shelved plansd fornew locations, as afflueny shoppers curtailed spending. Lately, , which has also been a prospectgfor Midtown, says it has no new storee concepts planned for Atlanta.
Any talk of an additionakl Nike location in Atlanta is nothing morethan “conversation,” a spokeswomab for the company said. Midtown’s shift in strategyg comes as the , a group of businese leaders laying the groundwork for the Midtown says it’s starting to gain a “criticap mass” of stores and restaurant s along Peachtree. At a Midtown Alliancw meeting June 16, Will Herbig, the group’zs director of urban design, said Midtown has added nearlty 133,000 square feet of new retaio during the past18 months, primarily at two anchoe projects: Holdings LLC’s Viewpoint, and 12th Midtown.
The additions bring the Midtown Alliancs halfway to its goal of 1 milliomn square feet of retail on Peachtree Streetr between North Avenue and 15thStreet — the stretch known as the Midtown Mile. Major projects along the Midtowm Mileinclude ’s Colon y Square, 12th & Midtown, Novare Group’sx Viewpoint and 999 Peachtree. “We’re seeint activity in Midtown from both regional andnational retailers, focusing on lifestyle and home furnishings,” Michael creative director with Jamestown. Retailers like CB2 and Applew cater to theMidtown demographic, said Jackie Wammock, vice president of LLC, who specializesw in retail leasing.
Midtownh tends to be a youngere demographic, and CB2, for example, focuses on a young urbab shoppers with good disposable income something Midtowndefinitely has, she said. While retailerds geared to 40-year-olds to 50-year-olds seem to be more affectef by the economy andlowerd sales, moderately priced stores that target 16-year-olds to 28-year-olds “seem to be doinv well,” said Tisha Maley, assistant vice presidentg of leasing for Lenoc Square, owned by (NYSE: SPG). Retail brokers are finallhy starting to see improveddeal activity, Wammockm said.
“We’re starting to see thinga loosen upa bit, in certain she said, noting restaurants and health clubs have shown “Deals are tougher to make, but we are seeinvg them getting signed,” Wammock said.