ATLANTA—The Ardent Companies acquired 37,853 square feet of retail and restaurant space at 1010 Midtown. A joint venture between Daniel Corporation, Selig Enterprises, and Canyon-Johnson Urban Funds sold the space for $15 million.

An integral part of the 12th & Midtown Development Initiative to establish Midtown Atlanta as a major Southern destination, 1010 Midtown is a 35-story, 630,000-square-foot mixed-use development on Peachtree Street between 11th and 12th Streets. The project offers 443 luxury high-rise condominiums and eight street-level retail spaces. 1010 Midtown is currently home to such upscale tenants as Ri Ra Irish Pub, Panera Bread, RA Sushi, Mi Cocina, Piola, CB2, and Bank of America.

“This is a prime location in the heart of Midtown Atlanta,” says Matt Shulman, managing partner of Ardent. “We believe this will be an excellent long-term investment for Ardent, and will continue to focus our efforts on acquiring assets we consider to be exceptional.”

Ardent formed TAC Midtown, LLC to purchase the property at 1010 Midtown and is negotiating a lease for the remaining 2,021 square feet of retail space with an undisclosed restaurateur that owns several restaurants throughout the city. Once signed, this lease will be representative of 100% retail tenant occupancy.

1010 Midtown is a significant component of Phase I of the 12th & Midtown Development Initiative. The project that will eventually encompass four city blocks that include over three million square feet of mixed-use space such as office towers, luxury hotels, premium residences, and flagship retail space.