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Avalon 'Firing on All Cylinders' with its 50th Lease

North American Properties' mixed-use development in Alpharetta at Old Milton Parkway and GA 400 is 90 percent pre-leased.

Avalon announced nine new retail and restaurant leases today.
Avalon announced nine new retail and restaurant leases today.

UPDATED 9:10 a.m.: Links added for most retailers.

North American Properties – Atlanta today announced that the 50th lease has been executed at its Avalon project in Alpharetta. The $600 million mixed-use project is now 90 percent pre-leased with just under one year to go until its Oct. 30, 2014 grand opening.  

 “It’s rare, in a mixed-use development of this scale, to have all uses moving forward at the same time,” says Mark Toro, managing partner of NAP, speaking from the ICSC New York National Conference. “We are firing on all cylinders, with multifamily, single-family, retail, restaurants, entertainment and office all underway.”

 Recently signed leases include:

Those in final lease negotiations include: Crate & Barrel in Phase 1 and Lilly Pulitzer in Phase 2.

“Reaching 90 percent committed in our 400,000 square-foot first phase, one year before opening, is testament to how unique Avalon is,” said Ron Pfohl, vice president of leasing at NAP. “We are to the point where we are turning away retailers because we can’t accommodate them. We’ve already secured our first commitment in Phase 2.”

Avalon is one of the largest projects under construction in the United States, according to North American Properties. It will include specialty retail, entertainment, restaurants, residences, offices, hotels and public spaces.

 Here is a look at the most recent milestones the NAP team has reached at Avalon:

Retail leasing

In addition to the retailers listed above, Avalon has executed leases with:

Giovanni Di Palma's Antico NapoletanaAnthropologieArhausAthletaBanana RepublicBantam + Biddy by Chef Shaun DotyBocado Burger BarC. WonderCRU Food and Wine Bar, Destination MaternityDry Bar,Everything But WaterExhale Spafab’rika new Chef Ford Fry conceptFlywheelFree PeopleGAP,GymboreeJanie and JackKinnucan’s Specialty OutfitterKona GrillL’Occitanelululemon athletica, Luxury Nail Spa, Marlow’s TavernMitchell Gold + Bob WilliamsOrvisPaper SourcePinkberryPNC BankRegal CinemasSage BoutiqueTed’s Montana GrillTommy BahamaVan Michael Salon,vineyard vinesWest ElmWhole Foods Market.

Pre-leasing for the Phase 2 luxury retail expansion is already well underway, and Phase 2 is scheduled to open in spring 2016.

For-sale residential

Town urbanist Lew Oliver, builder Monte Hewett Homes and Atlanta Fine Homes Sotheby’s International have teamed up to design, build and sell the single-family homes at Avalon. The team has gathered a waiting list of more than 1,400 prospective homebuyers for the 101 homes, the first of which will be delivered in October 2014.

Luxury rental homes

250 luxury rental homes are being built above Avalon's Phase 1 retail.  NAP has received unprecedented interest for the multifamily offering at Avalon, with a waiting list forming for units to be delivered in December 2014.

Hotels

NAP is advancing plans for a conference center and full-service hotel, in conjunction with Stormont Hospitality Group, with a targeted completion of spring 2016.

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