New owner plans high-end upgrades for Avenue at East Cobb

A new owner at The Avenue East Cobb plans upgrades at the shopping center. (Photo provided/North American Properties)

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A new owner at The Avenue East Cobb plans upgrades at the shopping center. (Photo provided/North American Properties)

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The Avenue East Cobb has a new co-owner that has plans to revamp the shopping center in Marietta. (Photo provided/North American Properties)

The Avenue East Cobb has a new co-owner that has plans to revamp the shopping center in Marietta. (Photo provided/North American Properties)

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The Avenue East Cobb has a new co-owner that has plans to revamp the shopping center in Marietta. (Photo provided/North American Properties)

The Avenue East Cobb, a popular open-air shopping outlet in Cobb County, is primed for a “resort-level” rebrand, according to its newest stakeholder.

North American Properties, a Cincinnati-based developer, recently announced acquisition of the 230,000-square-foot outdoor shopping center on Roswell Road in Marietta.

North American Properties is partnering with PGIM, Avenue East Cobb’s longtime owner, to revamp the mixed-use retail outlet by adding a central lawn area and chef-driven restaurants with outdoor patios. The developer announced that it became a co-owner with PGIM on July 14.

The joint venture is part of a “repositioning plan” for the shopping center. North American Properties will take over management of the shopping center property and recruit new shops to lease space on the property.

Property owners hope the updates plus new community events will add a “downtown feel” to the area surrounding the East Cobb shopping center, which originally opened in 1999.

North American Properties is the architect behind the turnaround at the Atlantic Station, which was completed in 2016. The shopping center on the outskirts of Atlanta’s Midtown now boasts than 50 boutiques, cafes, hotels, department stores and big-box retailers.

North American Properties also developed Avalon, a mixed-use property in Alpharetta, from the ground up and steered the redesign of the Colony Square shopping center in Midtown.

Owners envision a similar makeover for The Avenue East Cobb that will add a blend of resort-level hotels surrounded by shops, restaurants and entertainment spots like a movie theater.

“Our plan is to create a socially magnetic place that pulls people together to hang out and connect with community,” said Adam Schwegman, one of North American Properties’ senior executives. “East Cobb is home to an incredible population of families who are looking for places to go and things to do, yet it lacks any resemblance of a downtown. Utilizing best practices from our other projects, we are excited to elevate this already great shopping and dining destination into a modern gathering place.”

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