Midtown Atlanta: Fancy

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and , partners in 12th & Midtown on and Jamestown, the developer reshaping 999 continue to chase and anew prospect, Dick’s Sporting sources familiar with the marker say. CB2, an offshoot of home furnishings chain gearede towardGeneration Y, also recently confirmed to Atlantaq Business Chronicle that it’s considering whether to enteer the Atlanta market. Seli g and Daniel have been trying to land the CB2 is interested in West Midtowjas well, sources said. The focus on frugalo rather than fancy comes asthe high-enr market continues to sputter, with some analysts sayinhg it may not begimn to recover until 2011.
As Midtow real estate developers have tried to line Peachtre with new storefronts in the pasttwo years, the efforft has included the pursuit of luxury clothing designer Tom whose flagship store is on Madison Avenue; Prada, famous for opulenty handbags and sunglasses; and , also known for its high-enc accessories. In recent years, Seli g Enterprises said it wanted luxury retailer s and flagship stores to locatein However, many of those retailers have shelvef plans for new locations, as affluentt shoppers curtailed spending.
Lately, , which has also been a prospecytfor Midtown, says it has no new stor concepts planned for Any talk of an additiona Nike location in Atlanta is nothing more than “conversation,” a spokeswomanb for the company said. Midtown’s shifgt in strategy comes as the , a group of businesx leaders laying the groundwork for theMidtowb Mile, says it’s starting to gain a “criticalo mass” of stores and restaurants alonv Peachtree.
At a Midtown Alliance meeting June 16, Will Herbig, the group’ss director of urban said Midtown has addednearly 133,000 squarer feet of new retail during the past 18 months, primarilyt at two anchor projects: Holdingas LLC’s Viewpoint, and 12th Midtown. The additions brinh the Midtown Alliance halfway to its goal of 1 million squaree feet of retail on Peachtree Street between Nortgh Avenue and 15thStreet — the stretch known as the Midtown Mile. Majo r projects along the Midtown Mileinclude ’s Colony Square, 12th & Midtown, Novare Group’s Viewpoint and 999 Peachtree.
“We’rse seeing activity in Midtown from both regional and national focusing on lifestyle and home Michael Phillips, creative director with Retailers like CB2 and Apple cater to the Midtowb demographic, said Jackie Wammock, vice president of LLC, who specialize s in retail leasing. Midtown tends to be a youngere demographic, and CB2, for example, focuses on a young urbanm shoppers with good disposableincome — somethinvg Midtown definitely has, she said.
While retailers geared to 40-year-olds to 50-year-olds seem to be more affected by the economhy andlower sales, moderately priced stores that target 16-year-olds to 28-year-oldws “seem to be doing well,” said Tisha Maley, assistant vice president of leasing for Lenox Square, owned by SPG). Retail brokers are finally starting to see improved deal Wammock said. “We’re starting to see thingss loosen upa bit, in certain she said, noting restaurants and healtbh clubs have shown “Deals are tougher to make, but we are seeinf them getting signed,” Wammock