SRS Real Estate Partners (SRS), which recently took over the leasing of the retail core at Atlantic Station in midtown Atlanta, is scouting restaurant and fashion tenants at this week’s International Council of Shopping Center’s (ICSC) New York National Deal Making Conference.
Houston-based Hines recently hired SRS to lease the property. The leasing team includes SRS executive vice president and market leader, Ray Uttenhove; vice president, Adrienne Crawford; and vice president, Lily H. Heimburger.
The team’s tenanting strategy at Atlantic Station reflects a shift under new ownership. “We’re targeting entertainment, restaurant and fashion tenants,” Uttenhove said. “Currently, we’re talking to both regional and national retailers. We expect to announce exciting new names in early 2016. Our targeted tenants will respond well with the market and complement existing retailers, especially those in the fast fashion category.”
The H&M at Atlantic Station is one of the top performing stores in the country, which has inspired Uttenhove and her team to look at more “fast fashion” tenants – retailers whose collections are based on the most recent fashion trends. Additionally, Atlantic Station’s Regal Cinemas is one of the top performing movie theaters in the Southeast. The record-breaking box office shows the appetite for more entertainment options at Atlantic Station.
“Midtown is the most dynamic in-town market in the Southeast,” Uttenhove said. “The market is hungry for more shopping, dining and entertainment options, and we plan to elevate Atlantic Station as a super regional destination with a variety of popular tenants.”
This fall, Hines, on behalf of an institutional investor, acquired the 586,000-square-foot retail center that anchors the mixed-use development, which also includes three Class A office towers, several multifamily communities, a full-service hotel and freestanding Ikea, Target and Dillard’s locations.
The 138-acre mixed-use community attracts a diverse customer base that includes millennials, families, office workers and tourists. Along with an aggressive leasing strategy, SRS and Hines will continue to activate Atlantic Station’s open spaces with events and experiences to connect with the community. Atlantic Station currently hosts a 10,000-square-foot ice-skating rink, Santa’s Cottage, daily snow shows in Central Park and other holiday festivities.
For more information on Atlantic Station, visit http://atlanticstation.com. For more information on SRS, visit https://srsre.com.
About Atlantic Station:
A national example for sustainable mixed-use communities, Atlantic Station transformed an abandoned industrial site into a thriving entertainment district at the heart of Atlanta’s vibrant Midtown neighborhood. Opened in 2005, Atlantic Station is home to some of Atlanta’s most popular restaurants, retailers such as H&M and Dillard’s and leading employers such as Wells Fargo, Ogilvy & Mather and BB&T. Atlantic Station each year hosts dozens of community gatherings, charity walks and neighborhood forums. The Walk to End Alzheimer’s and other events at Atlantic Station have raised more than $50 million for Atlanta charities since 2005. In July 2013, 2014 and 2015, Atlantic Station hosted the BB&T Atlanta Open. A national leader in consumer engagement and technology, Atlantic Station has the No. 3 most followed Twitter feed among U.S. retail centers. For more information, visit Atlantic Station online at http://atlanticstation.com, on Twitter at www.twitter.com/atlanticstation, on Instagram at https://instagram.com/atlanticstation/ or on Facebook at www.facebook.com/AtlanticStation.
About Hines:
Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services. In 2014, Hines completed over $8 billion in transactions on behalf of its investment management clients. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired more than 1,000 properties, totaling over 339 million square feet. The firm’s current property and asset management portfolio includes 511 properties, representing over 176 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.