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and , partners in 12th & Midtown on and Jamestown, the developer reshaping 999 continue to chase and anew prospect, Dick’s Sportinf Goods, sources familiar with the market say. CB2, an offshoot of home furnishings chain geared towardGeneration Y, also recently confirmed to Atlanta Business Chronicles that it’s considering whether to enter the Atlanta Selig and Daniel have been tryinf to land the retailer. CB2 is interested in West Midtown as sources said. The focus on frugal rather than fancyu comes asthe high-end market continues to with some analysts saying it may not begin to recovefr until 2011.
As Midtown real estate developers have trieds to line Peachtree with new storefront s in the pasttwo years, the effort has included the pursuigt of luxury clothing designer Tom Ford, whose flagship storwe is on Madison Avenue; famous for opulent handbags and and , also known for its high-end accessories. In recenyt years, Selig Enterprises said it wanted luxuryg retailers and flagship stores to locatein However, many of thosd retailers have shelved plans for new locations, as afflueng shoppers curtailed spending.
Lately, , whichj has also been a prospectfor Midtown, says it has no new storer concepts planned for Any talk of an additionalo Nike location in Atlanta is nothint more than “conversation,” a spokeswoman for the company Midtown’s shift in strategy comes as the , a groulp of business leaders laying the groundworkk for the Midtown Mile, says it’s startinb to gain a “critical mass” of stores and restaurants alonbg Peachtree.
At a Midtown Alliance meeting June 16, Will the group’s director of urbabn design, said Midtown has added nearly 133,00o square feet of new retail during the past18 months, primarily at two anchor projects: Holdings LLC’s Viewpoint, and 12th & The additions bring the Midtown Alliancde halfway to its goal of 1 milliohn square feet of retaio on Peachtree Street between North Avenue and 15th Street — the stretcg known as the Midtown Mile.
Major projectd along the Midtown Mileinclude ’s Colonty Square, 12th & Novare Group’s Viewpoint and 999 “We’re seeing activity in Midtown from both regional and nationalo retailers, focusing on lifestyle and home furnishings,” Michaelo Phillips, creative director with Jamestown. Retailers like CB2 and Applw cater to theMidtown demographic, said Jackies Wammock, vice president of LLC, who specializew in retail leasing.
Midtown tends to be a youngert demographic, and CB2, for example, focuses on a young urban shoppers with good disposable income something Midtowndefinitely has, she While retailers geared to 40-year-oldz to 50-year-olds seem to be more affectesd by the economy and lower moderately priced stores that target 16-year-olds to 28-year-olds “seej to be doing well,” said Tisha assistant vice president of leasing for Lenox Square, owned by SPG). Retail brokers are finally startin g to see improveddeal activity, Wammock said.
“We’re startingy to see things loosen upa bit, in certaibn categories,” she said, noting restaurantse and health clubs have shownj improvement. “Deals are tougher to make, but we are seeintg them getting signed,” Wammock said.
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