"It's a landmark building that has been a part of the culture ofdowntown Atlanta for many years--since the 1920s--and it's easilypositioned to be the epicenter of the downtown resurgence from aretail perspective," Williams tells GlobeSt.com. "Downtown benefitsfrom a large employee base with a daytime populationof 150,000people."

Macy's vacated the building five years ago, and since then ithas been occupied by multiple tenants, including Delta, which usedthe building in training pilots and service staff, says Williams.The redevelopment project includes turning the space into amixed-use development including approximately 300,000 sf of officeon the top five floors and just under 200,000 sf of retail on theground three floors. A new glass encased entryway is to beconstructed on Peachtree Street.

"The idea is to invite patrons into the building, almostcreating another avenue on the street down the center of thebuilding in the form of a grand atrium with retail centers liningeither side," says Williams. He expects potential tenants to be amix of upscale restaurants, and retail in the form of service andapparel industries. Demolition of the interior of the former Macy'swill begin in the next two to three weeks and the building isexpected to reopen in fall 2009.