ATLANTA: Why Avalon is a Big Deal for Retail
On the eve of the big ICSC show in NY next week, we learned that a massive mixed-use project in the capital city of Dixie is already 90% pre-leased. North American Properties CEO Mark Toro tells us they have just signed the first 400k SF of retail in the $600M Avalon project. Why it matters: Atlanta was among the hardest-hit markets for retail and the turnaround is a sign of gathering strength in the sector.
Other signs of life: OliverMcMillan's $300M Buckhead, Atlanta (rendered) and Jamestown Properties' $200M-plus Ponce City Market (a redevelopment of an old Sears warehouse in Midtown Atlanta) have announced huge leasing wins while under construction.