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ATLANTA-The area’s 100-million-sf retail inventory is growing as two new projects are expected to add about one million sf of new product in 2006.

Cousins Properties Inc. plans to open its sixth Avenue-brand of open-air shopping centers in first quarter 2006 in Gwinnett County while Forum Development Group plans 800,000 sf of specialty retail in north Fulton County, brokers and consultants attending the annual Las Vegas convention of the International Council of Shopping Centers, tell GlobeSt.com.

Cousins’ project, the Avenue Webb Gin Corners, is tentatively scheduled to open in first quarter 2006 at Webb Gin House Road and GA 124. The locally based REIT is completing its fifth Avenue venture, the 58-acre, 415,000-sf Avenue Viera, in Viera, FL, near the Kennedy Space Center.

Other Avenue undertakings are the Avenue East Cobb, the Avenue Peachtree City and the Avenue West Cobb, all in metro Atlanta; and the Avenue of the Peninsula in Rolling Hills Estates, Los Angeles County, CA.

Forum Development, headed by Stan Thomas, plans Forum-Alpharetta at the northwest corner of GA 400 and Old Milton Parkway. Besides the retail, other components at the 90-acre site will be office, residential, hotel, restaurants and a theater.

That site was earmarked in 2002 for a one-million-sf mall development by Michigan-based Taubman Centers Inc. At the same time, Rouse Co. of Columbia, MD also scrapped a one-million-sf mall plan in nearby south Forsyth County.

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