ATLANTA—Related Group is developing a 72,000-square-foot multi-level flagship store in Midtown Atlanta. The second phase of Related's new luxury, mixed-use residential tower is located at West Peachtree and 14th Street
Related picked Balfour Beatty US to build Whole Foods Market. Currently under construction, the new store will anchor the 39-story tower. Designed by architecture firm Phillips Partnership, the project is scheduled for final completion in first quarter 2018.
“When considering a new market, there are several factors to understand about a potential audience and location,” Jeffrey Bayer, president and CEO of Bayer Properties, tells GlobeSt.com. “First, how strong is job growth? Second, what percentage of the market has a household income of at least $75,000 per year? Third, we look at the amount of relevant retail square footage per consumer.”
Midtown is one of Atlanta's most walkable neighborhoods. The newest Midtown Whole Foods Market will be easily accessible for residents, and feature green spaces and sustainability objectives set forth by the Midtown Eco-District
Related's project sits in the gateway to Atlanta's Arts District, Piedmont Park and the Midtown business district. The mixed-use residential tower will also feature a microbrewery, a rooftop patio bar with views of Midtown Atlanta and a variety of neighborhood restaurants.
“Retailers and developers alike must be mindful of how to cater to the growing number of millennials in this country,” Tim Blum, executive vice president and managing director of HSA Commercial Real Estate's retail division. “By definition, millennials are more technologically adept than previous generations and, therefore, have an unlimited number of ways to shop online through either desktop or mobile devices. Therefore, retailers and developers must cultivate authentic experiences that encourage brick-and-mortar shopping.”
Some shopping centers are struggling. Find out why in this column.
ATLANTA—Related Group is developing a 72,000-square-foot multi-level flagship store in Midtown Atlanta. The second phase of Related's new luxury, mixed-use residential tower is located at West Peachtree and 14th Street
Related picked Balfour Beatty US to build
“When considering a new market, there are several factors to understand about a potential audience and location,” Jeffrey Bayer, president and CEO of Bayer Properties, tells GlobeSt.com. “First, how strong is job growth? Second, what percentage of the market has a household income of at least $75,000 per year? Third, we look at the amount of relevant retail square footage per consumer.”
Midtown is one of Atlanta's most walkable neighborhoods. The newest Midtown
Related's project sits in the gateway to Atlanta's Arts District, Piedmont Park and the Midtown business district. The mixed-use residential tower will also feature a microbrewery, a rooftop patio bar with views of Midtown Atlanta and a variety of neighborhood restaurants.
“Retailers and developers alike must be mindful of how to cater to the growing number of millennials in this country,” Tim Blum, executive vice president and managing director of HSA Commercial Real Estate's retail division. “By definition, millennials are more technologically adept than previous generations and, therefore, have an unlimited number of ways to shop online through either desktop or mobile devices. Therefore, retailers and developers must cultivate authentic experiences that encourage brick-and-mortar shopping.”
Some shopping centers are struggling. Find out why in this column.
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