ATLANTA Cushman & Wakefield Global Cities Retail Guide
Cushman & Wakefield | Atlanta | 2019 0 With a dynamic and diverse population of more than five million people, the Atlanta metro area continues to experience strong growth. Often referred to as the "Capital of the South", the city is a growing tourist destination offering a unique variety of restaurants and major shopping destinations.
Atlanta is home to the world's busiest airport and is within a two-hour flight of 80% of the U.S. population. With no natural boundaries for development, the Atlanta metro area covers 28 counties and is the ninth largest metro area in the U.S. The area offers an assortment of unique neighborhoods with each offering their own character and amenities. Migration to Atlanta continues to accelerate and is forecast to nearly double in the next two years, rising from 53,700 new residents in 2017 to over 96,000 in 2020. The influx of talent via migration and new graduates from Atlanta’s many top universities should ease the shortages that have held back job growth in office-using industries. ATLANTA In 2017, an estimated 53 million visitors came to the Atlanta area spending approximately $15 billion. OVERVIEW
Cushman & Wakefield | Atlanta | 2019 1 ATLANTA KEY RETAIL STREETS & AREAS
BUCKHEAD DOWNTOWN DECATUR Buckhead is one of Atlanta's premier retail destinations Decatur is a progressive neighborhood-centric city located and business districts offering numerous luxury and just six miles from downtown Atlanta. Downtown Decatur, internationally recognized retailers. Centered around the heart of the city, is a lively, pedestrian-oriented Phipps Mall and Lenox Mall, this uptown district is business district that offers a vibrant mix of unique considered one of the top shopping destinations in the boutiques, restaurants, and pubs. southeast.
MIDTOWN LITTLE FIVE POINTS Midtown is an emerging retail and business destination Little Five Points and East Atlanta is a unique district within Atlanta's urban core. The area is characterized by located 2 ½ miles from downtown Atlanta famous for its street-level retail in modern, mixed-use, office and multi- alternative environment and new-age flare. Consisting of family high-rises. Just north of downtown Atlanta, this area mostly local, new-age retailers, restaurants, and coffee includes Atlantic Station, a major retail and office shops, the area is surrounded by historic Atlanta destination. Midtown is also home to Piedmont Park, the neighborhoods such as Inman Park and Candler Park. region's premiere recreational amenity and hub of outdoor activity.
VIRGINIA HIGHLAND ROSWELL/ALPHARETTA Virginia Highland is a historic village-like neighborhood The Roswell/Alpharetta area is an affluent suburban area just east of Atlanta's Midtown district offering an eclectic north of Atlanta's urban core. Boasting some of the mix of unique local boutiques, restaurants, and bars. highest average household income levels in the entire southeastern United States, this area includes Avalon, North Point Mall, several open-air lifestyle centers, and suburban strip centers.
Cushman & Wakefield | Atlanta | 2019 2 ATLANTA KEY RETAIL STREETS & AREAS
CENTRAL PERIMETER/SANDY VININGS/CUMBERLAND SPRINGS The Vinings/Cumberland area is a hybrid market with a The Central Perimeter/Sandy Springs area is a premier high amount of convention traffic fed by Cobb Galleria suburban shopping destination serving as a gateway Convention Centre. This area of Atlanta serves as the between Atlanta's urban core and its northern suburbs. gateway between Atlanta's urban core and the city's Boasting some of Atlanta's highest daytime population northwestern suburbs. The submarket has largely traffic, this area includes Perimeter Mall and big-box developed as an outgrowth of its role as the headquarters suburban anchored centers. Several large corporations for the Home Depot. The Cobb Galleria Convention call the area home, including UPS, Newell Rubbermaid, Centre and Cumberland Mall serve as the area's primary Cox Communications, State Farm Insurance and retail anchors. Mercedes-Benz.
Cushman & Wakefield | Atlanta | 2019 3 ATLANTA MARKET OVERVIEW
KEY AREAS / CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT RANGE OF STREETS/SHOPPING PROFILE FOR UNIT OF UNIT SIZES CENTERS 2,000 SQFT
Neiman Marcus, Bloomingdales, Mass market, luxury, Draper James, SoulCyle, Saks Fifth Avenue, Nordstrom, Buckhead area employees, King Barbecue, Archer $50 - $60 psf All sizes Macy's, Restoration Hardware, tourists, locals Paper Goods Peloton, Ivivva, West Elm
Mass market, in-town Dillard's, H&M, Ann Taylor, Banana Midtown The Painted Duck $50 - $60 psf All sizes locals, CBD employees Republic, Target, DSW
In-town locals, Urban Outfitters, La Raine's Virginia Highland trendsetters, young Boutique, Bill Hallman Boutique, $30 - $40 psf 1,000 - 5,000 sf families Tipple & Rose Tea Parlor In-town locals, hip, Squash Blossom, Sq/ft, The Cook's Downtown Decatur trendsetters, young Savi Provisions $25 - $30 psf 1,000 - 5,000 sf Warehouse, Green's Fine Foods families Locals, hipsters, Junkman's Daughter, Rag-O-Rama, Little Five Points alternative lifestyle, Wish Gallery, Hattie B’s $30 - $35 psf 1,000 - 3,000 sf Bill Hallman artists
Macy's, American Girl, GAP, Bed Loyal Tavern, Spirited Mass market, suburban Roswell/Alpharetta Bath & Beyond, Dillard’s, Von Maur, Boutiques, Mountain $25 - $35 psf All sizes locals, families Apple High Outfitters, Hemline
Mass market, suburban Macy's, Nordstrom, Von Maur, Bed SculptHouse, Nam Central Perimeter/Sandy Springs locals, families, Central Bath & Beyond, The Tile Shop, The $25 - $35 psf All sizes Kitchen Perimeter employees Container Store Mass market, suburban Vinings/Cumberland locals, families, Galleria Macy's, Costco, DSW, H&M, Apple Hobby Lobby $25 - $35 psf All sizes employees, tourists
Cushman & Wakefield | Atlanta | 2019 4 ATLANTA SHOPPING CENTERS
PONCE CITY MARKET AVALON Ponce City Market opened in 2014, and is Atlanta’s Avalon is a newly developed 86-acre mixed-use project in largest adaptive re-use project. It has a Central Food Hall, Alpharetta. It contains 500,000 square feet of retail, a 12- shops, flats and offices. It is located in one of the most screen all premium theatre, a full-service hotel, Class A cherished neighbourhoods of Midtown Atlanta. Some of office space and apartments. Avalon has almost 70 retail PCM’s retail tenants include Lululemon, Frye, Williams- tenants and is anchored by Whole Foods Market. Sonoma, and West Elm.
THE SHOPS OF BUCKHEAD The Shops of Buckhead, the Rodeo Drive of Atlanta, delivered in 2015 in the heart of Buckhead. The Shops of Buckhead combine big city style and European charm into one shopping center. It has over 60 designer stores and restaurants. A few notable tenants are Dior, Tom Ford, Hermès and Christian Louboutin.
Cushman & Wakefield | Atlanta | 2019 5 DEVELOPMENT TO WATCH OUT FOR
HIGH STREET ATLANTA
Total Size (SF) 8,000,000
- Retail GLA 400,000
Construction Start Date Q4 2019
Consumer Profile Mass-market to upper- range Local residents, tourists
ABOUT THE DEVELOPMENT
High Street located in Dunwoody, Atlanta will have up to 8 million square feet of mixed-use space. The total development will have 1,500 apartments, 1,500 condominiums, 4000,000 square feet of retail, 400,000 square feet of new office and 400 hotel rooms. The project is situated right outside of Atlanta’s Central Business District in the Central Perimeter submarket and is in close proximity to the major highways providing easy access to and from Downtown Atlanta. ATLANTA NEW DEVELOPMENT WATCH
Cushman & Wakefield | Atlanta | 2019 6 ATLANTA FOOD & BEVERAGE
Atlanta serves as the Southeast's An adventurous pallet is the phrase that would define the general Atlanta mindset, where there exists a strong destination for arts, entertainment, gravitational pull towards well-positioned homegrown and dining. concepts. Award winning chefs and established restaurant groups dominate the dining scene in the Atlanta market and include Anne Quatrano (Bacchanalia, Star Provisions), Fifth Group Restaurants (Ecco, La Tavola, South City Kitchen), Richard Blais (Flip Burger Boutique), the Stalwarts of Buckhead Life Restaurant Group (Chops, Buckhead Diner, Pricci) and the list goes on.
Cushman & Wakefield | Atlanta | 2019 7 ATLANTA FOOD & BEVERAGE MARKET OVERVIEW
KEY AREAS CONSUMER FOOD & BEVERAGE OPERATORS RENT FOR PROFILE INCLUDING 3,500 SQFT UNIT
Bones, Fogo de Chao, Atlanta Fish Market, Upscale food- Buckhead Maggiano's Little Italy, Chops, Hal's, the $40 - $50 psf forward Capital Grille
Seasons 52, Maggiano's Little Corporate, family- Italy, McKendrick's Steakhouse, SAGE Central Perimeter $35 - $40 psf centric Woodfire Tavern, California Pizza Kitchen, Cheesecake Factory
Murphy's, Loca Luna, Park Tavern, Alon's Virginia Highland Adventurous Bakery, Fontaine's Oyster House, Doc Chey's $40 - $50 psf Noodle House, Rosebud
Leon's, Brickstore Pub, Café 246, Iberian Pig, Downtown Decatur Progressive Farm Burger, Café Alsace, Wahoo, Victory $25 - $30 psf Sandwich Shop
Gordon Biersch, Oceanaire, Vortex, Ecco, Midtown See-and-be-seen Baraonda, One Midtown Kitchen, RA Sushi, $40 - $50 psf Alluvia, Escorpion
Bacchanalia, JCT Kitchen, BOCADO, Miller West Midtown Trendsetters Union, The Optimist, Ormsby's, Tacqueria Del $40 - $45 psf Sol, Five Seasons, Octane Coffee
Kevin Rathbun Steak, Two Urban Licks, Fritti, Inman Park Progressive Sotto Sotto, Pure Tacqueria, Parish, Wisteria, $35 - $45 psf One Eared Stag
Cushman & Wakefield | Atlanta | 2019 8 ERIKA SCHANKE Managing Director Americas Retail Services 1290 Avenue of the Americas New York, NY 10104, USA Tel: +1 212 841 5024 Mob: +1 404 680 4363 [email protected]
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