micropundit

Re Chanel: I have been recently told by a staffer from one of the leading retailers in the Neiman Marcus wing that Simon is trying to create what they termed "Millionaire's Row" in that wing. IF Chanal goes into Lennox, then this is where and why.

Not sure if Belk being in Phipps is/was "by default"; in my view Simon decided to go the route of not spending the money for a buyout of the lease figuring,incorrectly, that there was no other game in town. Now with the SOB, there is competition for all of the previously unrepresented brands here in Atlanta. Simon wins the competition for Barneys by default-there was not a footprint big enough in the SOB scheme for a flagship,ie 40-60,000 square feet. However, with the problems at the Giorgio Armani boutique, Simon has to create an atmosphere in Phipps that will attract and retain the upper end retailers who wish to be in a mall environment.The Belk store does not add value to that type of atmosphere. BTW, there will be some very well known and high end users who are going into the "Midtown mile' due to their desire NOT to be in a mall and not to be in Buckhead.

MADEWELL, the latest from the folks at J. CREW, will open their first Ga location( and 10th overall) in Lennox Square tis summer.

Atlanta's retail market is no longer strictly local/regional because the increased tourism and convention trade so the competitive edge formerly enjoyed by Buckhead no longer exists as the mall is no longer the sole venue of choice for the sophisticated/ tourist customer. In fact, the international customer is more prone to be drawn to the total urban experience,ie food.shopping and clubing on the same same street envoirnment. The Midtown Mile is going to get a great deal of the renown retail because it is promising a look and feel that is ,IMO, the anthesis of Buckhead image: snooty and snobby.So it is no longer a question of either or in Atlanta re retail but both and; so it is not Buckhead's loss per se but Atlanta's gain as a city with someplace for almost every taste.

I think you are close to the mark with your analysis of The Streets of Buckhead but the rise of the Midtown Mile will surprise some with the names they are attracting as well. Overall, the city's retail scene is going to be better with more and varied options re price points;location and brand offerings.

^ In that regard ,it was confirmned by a staffer that the new Ralph Laren boutique in the NM wing would be "three times as large(as the current location ) and would be on two levels"

News and Notes: Forth & Towne is closing all locations due to poor sales. so no Phipps store. True Religion is scheduled to open a store in Lennox this fall.

In addition to Valentino, look for Carolina Herra at Lennox in 2008. There are others but can't recall them all right now.

Towers add to S. Cobb push to be metro hub By WALTER WOODS , PAUL DONSKY The Atlanta Journal-Constitution Published on: 11/03/06 As part of a grand effort to create a citylike professional and social center in south Cobb County, a developer has won the right to build a prominent pair of high-rise buildings beside a new performing arts center and overlooking I-75. A company tied to developer John Williams, a key donor who helped finance the Cobb Energy Performing Arts Center, plans to bring an intown flavor to the suburbs by creating a walkable focus of activity near the venue. Williams' Grove Street Partners plans a 15-story office building and an 18-story hotel-condominium tower, as well as ground-level restaurants, shops and a central plaza. The towers would complement the $145 million arts center, set to open next year as the new home of the Atlanta Opera, and the burgeoning Cumberland-Galleria area, home to corporate headquarters such as The Home Depot and Russell Athletic.

Aquarium to get bigger! 13 million rehab will benefit visitors, fish, even otters By TOM SABULIS The Atlanta Journal-Constitution Published on: 10/18/06 Less than a year after opening, the Georgia Aquarium is undertaking $13 million in renovations that will enhance visitor entrances, provide extra restrooms, add pumps and filters to accommodate rapidly growing fish and redo one exhibit, for Asian otters. Part facelift and part expansion, the tuneup addresses needs that have come to light as overwhelming crowds have flocked to the $290 million facility, the world's largest aquarium, since it opened last November. More than 3.3 million people

Ackerman plans The Stratford Atlanta Business Chronicle - 2:33 PM EDT Thursdayby Rachel Tobin RamosStaff Writer Another luxury project is in the works in Buckhead -- this one with $6 million condominiums, a 300-room hotel and exclusive fashion boutiques that could lure the likes of Prada and Gucci. In other words, something that might seem more at home on the Champs-Elys

American Cancer Society to move downtown Office at Inforum will have 550 people By MARIA SAPORTA, WALTER WOODS The Atlanta Journal-Constitution Published on: 08/08/06 Downtown Atlanta got another big real estate boost Tuesday with the announcement by Cousins Properties that it has signed a major tenant to occupy 274,000 square feet at the Inforum. People familiar with the transaction say the tenant is the American Cancer Society, which previously announced its intention to move from its headquarters on Clifton Road because it was cramped for space. The American Cancer Society currently employs 550 people at its headquarters, and all those employees are expected to relocate in the Inforum, which is owned by Cousins Properties. This is a one-two punch for both downtown and Cousins Properties. Last week, Cousins announced its intention to buy the 191 building on Peachtree Street with plans to move its headquarters there from Cobb County

A source,The ATLANTAN magazine,lists Lennox Mall as the site of the DIOR store. The phone #-404.364.2210- has not been connected,so when and where are still unknown to me.

Thank you. Look for some other major moves at the Lennox/Phipps complex: anchor stores leaving;new additions involving new to the market stores and existing stores being "repositioned". The gap between this complex and Bal Harbour will narrow considerably in the next few years.

^ They will be a full service boutique ;Saks will retain their in house store.