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ATLANTA-Four more retail tenants have joined the growing roster at developer Jim Jacoby’s $2-billion, 138-acre Atlantic Station mixed-use development under construction in Midtown and scheduled to open in first quarter 2005.

The new leases total 21,977 sf, have an estimated aggregate value of $3.32 million and run the tenant roll to 16 for a total 427,678 sf leased to date. F. Denver McGarey, president, the McGarey Group, Atlantic Station’s exclusive national retail leasing firm, says retail space goes for an average asking rent of $30 to $40 per sf, based on location. Restaurant space ranges from $35 to $45 per sf.

New tenants, leasing for an estimated five years, include three divisions from Columbus, OH-based Limited Brands Inc. They are Victoria’s Secret, taking 7,425 sf at an estimated total rent value of $1.1 million; Express, taking 9,261 sf at an estimated aggregate value of $1.4 million; and Bath and Body Works, taking 3,666 sf at an estimated rent value of $549,000.

The fourth new tenant is New Orleans-based PJ’s Coffee and Wine Bar, taking 1,625 sf at an estimated total rent of $284,375. Atlantic Station LLC, the project’s owner, doesn’t disclose individual lease lengths or their aggregate values. However, local retail brokers intimate with the project tell GlobeSt.com the average retail lease length at Atlantic Station so far has been five years.

Bob Powell and Denver McGarey, both of the McGarey Group, represented Atlantic Station LLC. Stuart Nelson of the Shopping Center Group negotiated for Limited Brands. On the PJ lease, Tracy Lojek, in-house broker at Atlantic Station, represented the owner. Dan Reed of PJ’s represented his company.

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