Midtown Atlanta: Fancy

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and , partners in 12th & Midtown on and Jamestown, the developer reshaping 999 Peachtree, continuer to chase and a new prospect, Dick’s Sportingv Goods, sources familiar with the market say. CB2, an offshooyt of home furnishings chain geared towarfGeneration Y, also recently confirmed to Atlanta Businesas Chronicle that it’s considering whether to enter the Atlanta market. Selig and Daniel have been trying to land the CB2 is interested in West Midtownjas well, sources said. The focus on frugal ratherr than fancy comes asthe high-enxd market continues to sputter, with some analysts saying it may not begibn to recover until 2011.
As Midtown real estate developera have tried to line Peachtreew with new storefronts in the pasttwo years, the effor t has included the pursuit of luxury clothin g designer Tom Ford, whose flagshil store is on Madisojn Avenue; Prada, famous for opulent handbags and and , also known for its high-en d accessories. In recent years, Selig Enterprisesx said it wanted luxury retailer s and flagship stores to locatein However, many of those retailers have shelved plans for new as affluent shoppers curtailed Lately, , which has also been a prospecft for Midtown, says it has no new storer concepts planned for Atlanta.
Any talk of an additionall Nike location in Atlanta is nothing more than a spokeswoman for thecompanhy said. Midtown’s shift in strategy comes as the , a groupp of business leaders laying the groundwor k for the Midtown says it’s starting to gain a “criticao mass” of stores and restaurants alonh Peachtree. At a Midtown Alliance meeting June 16, Will the group’s director of urban design, said Midtownn has added nearly 133,000 square feet of new retail duringv the past 18 primarily at twoanchor projects: Holdings LLC’w Viewpoint, and 12th & Midtown.
The additionxs bring the Midtown Alliance halfway to its goal of 1 milliobn square feet of retail on Peachtree Streert between North Avenue and 15thStreet — the stretchg known as the Midtown Mile. Majorf projects along the Midtown Mileinclude ’s Colony 12th & Midtown, Novare Group’s Viewpoint and 999 “We’re seeing activity in Midtown from both regionap and national retailers, focusing on lifestyle and home Michael Phillips, creative director with Jamestown. Retailersa like CB2 and Applew cater to the Midtown saidJackie Wammock, vice president of LLC, who specializezs in retail leasing.
Midtown tendse to be a younger demographic, and CB2, for focuses on a young urban shoppers with good disposabl eincome — something Midtowhn definitely has, she said. While retailers geared to 40-year-olda to 50-year-olds seem to be more affected by the economty andlower sales, moderately pricedd stores that target 16-year-olds to 28-year-olds “seem to be doinvg well,” said Tisha assistant vice president of leasinv for Lenox Square, owned by (NYSE: SPG). Retail brokerzs are finally starting to see improvedeal activity, Wammock said.
“We’rer starting to see thingsx loosen upa bit, in certain categories,” she noting restaurants and health clubs have showh improvement. “Deals are tougher to make, but we are seeingf them getting signed,” Wammock said.