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Avalon reports progress in lining up high-end retail tenants for the $600 million project. (click for larger version)
June 10, 2013ATLANTA – Avalon continues to stir interest as it adds more tenants for its $600 million project in Alpharetta.
Last week, North American Properties, the developer, announced the first-ever Bocado Burger Bar – a spinoff from one of Atlanta's hottest restaurants Bocado – has signed up for Avalon.
When Avalon opens in October 2014, it will be the Southeast's preeminent experiential development – a place where specialty retail, entertainment, restaurant, residential, office, hotel and public spaces come together to create a truly unique experience, said Mark Toro, managing partner of North American Properties.
Toro also advised his leasing team is advancing discussions with several hotel groups for a conference center hotel. Leading candidates are Marriott, Westin and Hyatt, he said.
"We are also in discussions with a number of other concept hotels such as Hotel Indigo and the Southern Living Hotel Group for a second boutique hotel at Avalon," Toro said.
Other announcements for Avalon include:
• Avalon site preparation is underway with vertical construction starting in September.
• Two new office leases mean that more than half of the available loft office space is leased.
• Avalon will be home to Regal Cinemas' first all-premium theater in the U.S.
• Discussions are ongoing with retail and restaurant tenants such as Antico Pizza Napoletana, Bantam + Biddy, Free People and Janie and Jack.
"We have seen tremendous interest from local, national and international retailers," said Toro. "The addition of Bocado Burger Bar and Ford Fry's new Mexican concept to the lineup are examples of in-town restaurateurs who are looking for the right opportunity in this part of town. And office leases demonstrate that office workers crave this kind of experience."
In addition to Bocado Burger Bar, Avalon has signed tenants including Everything But Water, C. Wonder, L'Occitane, Destination Maternity, Gymboree and Regal Cinemas.
Other signed tenants are Whole Foods, Anthropologie, fab'rik, Athleta, Arhaus, Orvis, Paper Source, Banana Republic, Luxury Nail Spa, Van Michael - Aveda Salon, DryBar, Mitchell Gold + Bob Williams, FlyWheel, lululemon athletica, Cru Food and Wine, Marlow's Tavern, Ted's Montana Grill and Pinkberry.
The leasing team is in discussions with Janie and Jack, Tommy Bahama, Vineyard Vines, Tuk Tuk and J. Alexander's.
In updating office leasing, Toro said more than 50 percent of the office-over-retail has been leased. New tenants include Wakefield Beasley and Associates and Integrated Care Management.
On the residential front, 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.
Monte Hewett recently unveiled the new home designs and has gathered a waiting list of 350 prospective homebuyers for the 101 homes to be built.
Initial concepts for the homes are available by contacting Atlanta Fine Homes Sotheby's International.
Executive Editor, Appen Media.