Midtown Atlanta: Fancy

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and , partners in 12th & Midtown on Peachtree, and the developer reshaping 999 Peachtree, continue to chase and a new Dick’s Sporting Goods, sources familiar with the market say. CB2, an offshooft of home furnishings chain geared towardsGeneration Y, also recentl confirmed to Atlanta Business Chronicle that it’s considering whether to enter the Atlanta Selig and Daniel have been trying to land the CB2 is interested in West Midtown as sources said. The focus on frugal rathee than fancy comes asthe high-end market continueas to sputter, with some analysts saying it may not begihn to recover until 2011.
As Midtown real estats developers have tried to line Peachtree with new storefronts in the pasttwo years, the effort has includeed the pursuit of luxury clothing designedr Tom Ford, whose flagship storw is on Madison Avenue; Prada, famous for opulen t handbags and sunglasses; and , also knowm for its high-end accessories. In recent years, Selihg Enterprises said it wanted luxury retailers and flagshilp stores to locatein Midtown. However, many of those retailersd have shelved plans fornew locations, as affluent shopper s curtailed spending. Lately, , which has also been a prospecftfor Midtown, says it has no new storse concepts planned for Atlanta.
Any talk of an additionalk Nike location in Atlanta is nothing morethan “conversation,” a spokeswoma n for the company said. Midtown’s shift in strategg comes as the , a group of business leaders layingt the groundwork for theMidtown Mile, says it’s starting to gain a “criticak mass” of stores and restaurant s along Peachtree. At a Midtowj Alliance meeting June 16, Will Herbig, the group’es director of urban design, said Midtow n has added nearly 133,000 square feet of new retail duringb the past18 months, primarily at two anchor Holdings LLC’s Viewpoint, and 12th & Midtown.
The additions brinh the Midtown Alliance halfway to its goal of 1 million square feet of retaiol on Peachtree Street between North Avenue and 15thStreetg — the stretch known as the Midtown Major projects along the Midtowb Mile include ’s Colonh Square, 12th & Midtown, Novarw Group’s Viewpoint and 999 Peachtree. “We’re seeingt activity in Midtown from both regional and national focusing on lifestyle and home Michael Phillips, creative director with Jamestown. Retailers like CB2 and Applr cater to theMidtown demographic, said Jacki e Wammock, vice president of LLC, who specializeas in retail leasing.
Midtownb tends to be a younger and CB2, for example, focused on a young urban shoppersd with good disposable incomde — something Midtown definitely has, she said. Whilre retailers geared to 40-year-olde to 50-year-olds seem to be more affecte d by the economy andloweer sales, moderately priced stores that targe t 16-year-olds to 28-year-olds “seem to be doinb well,” said Tisha Maley, assistant vice presidentg of leasing for Lenox Square, ownef by (NYSE: SPG). Retail brokers are finally starting to see improvecdeal activity, Wammock said.
“We’rs starting to see things loosemn upa bit, in certain categories,” she noting restaurants and health clubs have showbn improvement. “Deals are tougher to make, but we are seeing them getting signed,” Wammock said.