ATLANTA - cw-gbl-gws-prod.azureedge.net
Transcript of ATLANTA - cw-gbl-gws-prod.azureedge.net
0Cushman & Wakefield | Atlanta | 2019
ATLANTACushman & Wakefield
Global Cities Retail Guide
1Cushman & Wakefield | Atlanta | 2019
ATLANTAOVERVIEW
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. In 2017, an estimated 53 million visitors came to the Atlanta area spending approximately $15 billion.
2Cushman & Wakefield | Atlanta | 2019
BUCKHEADBuckhead is one of Atlanta's premier retail destinations and business districts offering numerous luxury and internationally recognized retailers. Centered around Phipps Mall and Lenox Mall, this uptown district is considered one of the top shopping destinations in the southeast.
ATLANTAKEY RETAIL STREETS & AREAS
MIDTOWNMidtown is an emerging retail and business destination within Atlanta's urban core. The area is characterized by street-level retail in modern, mixed-use, office and multi-family high-rises. Just north of downtown Atlanta, this area includes Atlantic Station, a major retail and office destination. Midtown is also home to Piedmont Park, the region's premiere recreational amenity and hub of outdoor activity.
DOWNTOWN DECATURDecatur is a progressive neighborhood-centric city located just six miles from downtown Atlanta. Downtown Decatur, the heart of the city, is a lively, pedestrian-oriented business district that offers a vibrant mix of unique boutiques, restaurants, and pubs.
LITTLE FIVE POINTSLittle Five Points and East Atlanta is a unique district located 2 ½ miles from downtown Atlanta famous for its alternative environment and new-age flare. Consisting of mostly local, new-age retailers, restaurants, and coffee shops, the area is surrounded by historic Atlanta neighborhoods such as Inman Park and Candler Park.
VIRGINIA HIGHLANDVirginia Highland is a historic village-like neighborhood just east of Atlanta's Midtown district offering an eclectic mix of unique local boutiques, restaurants, and bars.
ROSWELL/ALPHARETTAThe Roswell/Alpharetta area is an affluent suburban area north of Atlanta's urban core. Boasting some of the 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.
3Cushman & Wakefield | Atlanta | 2019
CENTRAL PERIMETER/SANDY SPRINGSThe Central Perimeter/Sandy Springs area is a premier suburban shopping destination serving as a gateway between Atlanta's urban core and its northern suburbs. Boasting some of Atlanta's highest daytime population traffic, this area includes Perimeter Mall and big-box suburban anchored centers. Several large corporations call the area home, including UPS, Newell Rubbermaid, Cox Communications, State Farm Insurance and Mercedes-Benz.
ATLANTAKEY RETAIL STREETS & AREAS
VININGS/CUMBERLANDThe Vinings/Cumberland area is a hybrid market with a high amount of convention traffic fed by Cobb Galleria Convention Centre. This area of Atlanta serves as the gateway between Atlanta's urban core and the city's northwestern suburbs. The submarket has largely developed as an outgrowth of its role as the headquarters for the Home Depot. The Cobb Galleria Convention Centre and Cumberland Mall serve as the area's primary retail anchors.
4Cushman & Wakefield | Atlanta | 2019
ATLANTAMARKET OVERVIEW
KEY AREAS / STREETS/SHOPPING CENTERS
CONSUMER PROFILE
MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT FOR UNIT OF 2,000 SQFT
RANGE OF UNIT SIZES
BuckheadMass market, luxury, area employees, tourists, locals
Neiman Marcus, Bloomingdales, Saks Fifth Avenue, Nordstrom, Macy's, Restoration Hardware, Peloton, Ivivva, West Elm
Draper James, SoulCyle, King Barbecue, Archer Paper Goods
$50 - $60 psf All sizes
Midtown Mass market, in-town locals, CBD employees
Dillard's, H&M, Ann Taylor, Banana Republic, Target, DSW The Painted Duck $50 - $60 psf All sizes
Virginia HighlandIn-town locals, trendsetters, young families
Urban Outfitters, La Raine'sBoutique, Bill Hallman Boutique, Tipple & Rose Tea Parlor
$30 - $40 psf 1,000 - 5,000 sf
Downtown DecaturIn-town locals, hip, trendsetters, youngfamilies
Squash Blossom, Sq/ft, The Cook's Warehouse, Green's Fine Foods Savi Provisions $25 - $30 psf 1,000 - 5,000 sf
Little Five PointsLocals, hipsters, alternative lifestyle, artists
Junkman's Daughter, Rag-O-Rama, Bill Hallman Wish Gallery, Hattie B’s $30 - $35 psf 1,000 - 3,000 sf
Roswell/Alpharetta Mass market, suburban locals, families
Macy's, American Girl, GAP, Bed Bath & Beyond, Dillard’s, Von Maur, Apple
Loyal Tavern, Spirited Boutiques, Mountain High Outfitters, Hemline
$25 - $35 psf All sizes
Central Perimeter/Sandy SpringsMass market, suburban locals, families, Central Perimeter employees
Macy's, Nordstrom, Von Maur, Bed Bath & Beyond, The Tile Shop, The Container Store
SculptHouse, Nam Kitchen $25 - $35 psf All sizes
Vinings/CumberlandMass market, suburban locals, families, Galleria employees, tourists
Macy's, Costco, DSW, H&M, Apple Hobby Lobby $25 - $35 psf All sizes
5Cushman & Wakefield | Atlanta | 2019
AVALONAvalon is a newly developed 86-acre mixed-use project in Alpharetta. It contains 500,000 square feet of retail, a 12-screen all premium theatre, a full-service hotel, Class A office space and apartments. Avalon has almost 70 retail tenants and is anchored by Whole Foods Market.
PONCE CITY MARKETPonce City Market opened in 2014, and is Atlanta’s largest adaptive re-use project. It has a Central Food Hall, shops, flats and offices. It is located in one of the most cherished neighbourhoods of Midtown Atlanta. Some of PCM’s retail tenants include Lululemon, Frye, Williams-Sonoma, and West Elm.
ATLANTASHOPPING CENTERS
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.
6Cushman & Wakefield | Atlanta | 2019
ATLANTANEW DEVELOPMENT WATCH
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.
7Cushman & Wakefield | Atlanta | 2019
Atlanta serves as the Southeast's destination for arts, entertainment, and dining.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.
An adventurous pallet is the phrase that would define the general Atlanta mindset, where there exists a strong gravitational pull towards well-positioned homegrown concepts.
ATLANTAFOOD & BEVERAGE
8Cushman & Wakefield | Atlanta | 2019
FOOD & BEVERAGE MARKET OVERVIEWATLANTA
KEY AREAS CONSUMER PROFILE
FOOD & BEVERAGE OPERATORS INCLUDING
RENT FOR 3,500 SQFT UNIT
Buckhead Upscale food-forward
Bones, Fogo de Chao, Atlanta Fish Market,Maggiano's Little Italy, Chops, Hal's, theCapital Grille
$40 - $50 psf
Central Perimeter Corporate, family-centric
Seasons 52, Maggiano's LittleItaly, McKendrick's Steakhouse, SAGEWoodfire Tavern, California Pizza Kitchen,Cheesecake Factory
$35 - $40 psf
Virginia Highland AdventurousMurphy's, Loca Luna, Park Tavern, Alon'sBakery, Fontaine's Oyster House, Doc Chey'sNoodle House, Rosebud
$40 - $50 psf
Downtown Decatur ProgressiveLeon's, Brickstore Pub, Café 246, Iberian Pig, Farm Burger, Café Alsace, Wahoo, Victory Sandwich Shop
$25 - $30 psf
Midtown See-and-be-seenGordon Biersch, Oceanaire, Vortex, Ecco,Baraonda, One Midtown Kitchen, RA Sushi, Alluvia, Escorpion
$40 - $50 psf
West Midtown TrendsettersBacchanalia, JCT Kitchen, BOCADO, MillerUnion, The Optimist, Ormsby's, Tacqueria Del Sol, Five Seasons, Octane Coffee
$40 - $45 psf
Inman Park ProgressiveKevin Rathbun Steak, Two Urban Licks, Fritti,Sotto Sotto, Pure Tacqueria, Parish, Wisteria,One Eared Stag
$35 - $45 psf
No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals.
© 2019 Cushman & Wakefield. All rights reserved.
ERIKA SCHANKEManaging DirectorAmericas Retail Services1290 Avenue of the AmericasNew York, NY 10104, USATel: +1 212 841 5024Mob: +1 404 680 [email protected]