ATLANTA—Buckhead Exchange, one of Atlanta's longest-standing retail centers, is getting a makeover. FCA Partners just announced redevelopment plans that aim to transform the 48,500-square foot retail structure into a pedestrian-forward center that can compete for a stronger tenant mix.

FCA acquired the retail center in 2013 for $15.2 million from Principal Financial. Urbana Holdings and Jamestown previously owned the property.

“We were attracted to the property because of its extremely high-quality location in the heart of Buckhead, which continues to become even more dense and urban due to multifamily and other high-density development currently underway,” says Albert Lindemann, managing partner of FCA.  “We believe there is strong tenant demand for interesting, renovated, retail space in Buckhead. The visibility and accessibility of this location, combined with our renovation, will attract unique tenants who want to be in Buckhead's emerging modern, urban streetscape but at a more reasonable price point than currently available at the surrounding projects.”

Redevelopment plans call for an architectural redesign and renovation of the exterior storefronts, as well as a pedestrian environment that includes a new façade and updated sidewalks and landscaping. On top of that, part of the building will be demolished so developers can create a paseo connecting the east-facing storefronts with those fronting Peachtree Road and Grandview Avenue. The idea is to improve

pedestrian circulation and creating an outdoor dining opportunity. FCA also plans to renovate the lower level to house two or three tenants.

“We aim to create a collection of diverse, tenant-specific storefronts that will help to highlight each tenant's presence and visibility in an interesting way,” says Lindemann.  “Al fresco dining and casual public spaces engage the surrounding neighborhoods by creating an attractive and inviting environment filled with high-quality tenants. This is an excellent opportunity for new or relocated Buckhead retailers looking to make their mark in a highly visible Peachtree location.”

FCA is already seeing fruits from its labor. Storico Fresco Pasta inked a 4,000-square-foot lease in the lower level along Grandview Avenue. And Yeah! Burger leased the 3,200-square foot restaurant space formerly home to Locos Grill & Pub.