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:
- Oak Steakhouse,
- francesca's boutique,
- Kendra Scott,
- Pottery Barn Kids,
- Marmi Shoes,
- Fuzziwig's Candy Factory,
- American Threads,
- The Cosmetic Market
- Giovanni DiPalma's Caffe Gio.
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:
In addition to the retailers listed above, Avalon has executed leases with:
h Giovanni Di Palma's Antico Napoletana, Anthropologie, Arhaus, Athleta, Banana Republic, Bantam + Biddy by Chef Shaun Doty, Bocado Burger Bar, C. Wonder, CRU Food and Wine Bar, Destination Maternity, Dry Bar,Everything But Water, Exhale Spa, fab’rik, a new Chef Ford Fry concept, Flywheel, Free People, GAP,Gymboree, Janie and Jack, Kinnucan’s Specialty Outfitter, Kona Grill, L’Occitane, lululemon athletica, Luxury Nail Spa, Marlow’s Tavern, Mitchell Gold + Bob Williams, Orvis, Paper Source, Pinkberry, PNC Bank, Regal Cinemas, Sage Boutique, Ted’s Montana Grill, Tommy Bahama, Van Michael Salon,vineyard vines, West Elm, Whole 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.
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.
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.