Some good news for Atlanta shopping centers

The Atlanta Journal-Constitution

Tuesday, October 07, 2008

Yes. The economy is reeling and big real estate deals are getting harder to start.

But Atlanta has been sought-after by developers for years. And many projects are moving forward, according to developers and brokers at the International Council of Shopping Centers Southeast meeting this week in Atlanta.

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Here’s a sampling of projects coming soon in metro Atlanta:

Disco Kroger: The “disco” Kroger at Peachtree and Piedmont roads will re-open on Oct. 19 as a Kroger “Fresh Fare,” with an emphasis on organic.

Burlington Coat Factory and LA Fitness: The discount clothier and fitness chain are on the prowl to open new stores in Atlanta.

Macy’s: The department store is considering smaller stores, which could bust the chain out of the malls.

Toco Hills upgrade: The Publix shopping center in Toco Hills will get a $7.5 million upgrade, thanks to owner Edens & Avant, a Columbia, S.C. developer. Herbert Ames, the development manager, said they have owned the center for four years, and now will give the mall a new facade, new merchants and a redesigned parking lot with more plants.

Apartments: Ram Realty, a Florida-based developer, loves urban locations near train stations. The company soon will break ground on 300 apartment units near Lindbergh MARTA Station in Buckhead. The 17-acre site includes a PGA Tour Superstore, to remain open through the first phase of Ram’s planned 1,000 unit complex called FiveFifteen. Ram raised a $240 million investment fund to buy land and finance projects, according to Casey Cummings, president, and Ken Baye, senior vice president of development.

Retailers in Hapeville: Jacoby Development is looking for retailers to fill 500,000 square feet of retail space at the former Ford auto plant. Armand A. Vari Jr. with Jacoby said he’s “talking to anybody and everybody” to fill the retail and restaurant space. “We’re being very positive,” he said with a smile, showing a picture of the project. (Jacoby didn’t have a booth). The company plans to build a 4,000-car park-and-ride facility first. The whole center will be powered through solar panels covering half the parking facility. The retail center is slated to open in fall 2010.

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