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| Rendering of Avalon under construction in Alpharetta, GA |
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| Mark Toro |
NEW YORK, NY (Dec. 9, 2013) – North American Properties –
Atlanta (NAP) today announced from the ICSC New York National Conference that
the 50th lease has been executed at its Avalon project in Alpharetta,
Ga.
The $600 million mixed-use project is now 90 percent
pre-leased with just under one year to go until its Oct. 30, 2014 grand
opening.
Avalon is one of the
largest projects under construction in the United States and it will be the
Southeast’s preeminent experiential development — a place where specialty
retail, entertainment, restaurants, residences, offices, hotels and public
spaces come together to create a truly unique experience.
“It’s rare, in a
mixed-use development of this scale, to have all uses moving forward at the
same time,” says Mark Toro, managing partner of NAP. “We are firing on
all cylinders, with multifamily, single-family, retail, restaurants,
entertainment and office all underway.”
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| Ron Pfohl |
Recently signed
leases include: Oak Steakhouse, francesca's boutique, Kendra Scott, Pottery
Barn Kids, Marmi Shoes, Fuzziwig's Candy Factory, American Threads, The
Cosmetic Marketand Giovanni DiPalma's Caffe Gio. Those in final lease negotiations
include: Crate & Barrel in Phase 1 and Lilly Pulitzer in Phase 2.
“Reaching 90 percent
committed in our 400,000 square-foot first phase, one year before opening, is
testament to how unique Avalon is,” said Ron Pfohl, vice president of
leasing at NAP.
“We are to the point where we are turning away retailers
because we can’t accommodate them. We’ve already secured our first commitment
in Phase 2.”
For a complete copy of the company’s news release, please
contact:
Savannah Duncan • The Wilbert Group
1720 Peachtree St., Suite 350 • Atlanta, Ga. 30309
O: 404-343-0870 • M:
404-901-4433
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