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Old 02-05-2016, 02:19 PM
 
Location: Atlanta
22 posts, read 14,307 times
Reputation: 25

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As a resident of Northlake I'm very excited to see multiple announcements this week for my neighborhood.

1.) Northlake Mall was sold to a Texas-based company who sees "tremendous potential".
Tomorrow's News Today - Atlanta: Northlake Mall Has Been Sold, New Owner Sees "Tremendous Potential"

2.) As I live and work in the area I have seen this area become a very hot market. The following post highlights many of the upcoming changes.
Northlake commercial property is moving: shifting demographics, attractive sales prices cited | The Brookhaven Post | Brookhaven, GA
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Old 02-05-2016, 02:28 PM
JPD
 
12,162 posts, read 14,789,119 times
Reputation: 7883
This is good news. Norhtlake and surrounding areas have always had the spending power to support better quality retail than what Northlake offers.
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Old 02-06-2016, 11:44 AM
 
8,010 posts, read 9,859,187 times
Reputation: 5959
Until they decide to dismantle that gigantic broadcast tower that sits in the middle of a shopping center parking lot, I'm not interested.
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Old 11-01-2017, 09:11 AM
 
28,633 posts, read 25,417,911 times
Reputation: 9884
What's the latest on Northlake mall? That area is bustling with upscale activity and would seem ripe for redevelopment.

North DeKalb, too.
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Old 11-01-2017, 11:31 AM
 
Location: Atlanta, GA
223 posts, read 92,283 times
Reputation: 519
Last time I was there, it was pretty dead. Few customers, half the food places are boarded up, and both JCPenny and Sears were virtually deserted. At this point, I don't think it'd matter much if one or both those anchors close.

I just cannot imagine Northlake staying open much longer. Unless a miracle occurs...lol.
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Old 11-01-2017, 11:40 AM
 
8,010 posts, read 9,859,187 times
Reputation: 5959
This happened to Gwinnett Place, as well. Some investment company with ideas to turn the place around and make a lot of money bought the property and then did diddly squat with it.

I don't understand what's going on. Are these companies that buy distressed malls just money laundering operations for criminal activity? How do they stay in business? They clearly lose money....what are they hiding? I think we're in the middle of some kind of bank crisis where these investment companies are doing something shady. Does Paul Manafort own them?
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Old 11-01-2017, 12:20 PM
 
Location: Vinings
6,130 posts, read 3,153,679 times
Reputation: 3313
Malls are an outdated concept. The land is probably worth more than the mall. They should tear it down and replace it with a large mixed use development, with retail shopping but also with mid-rise residential and whatnot. Like Avalon.

Same for Gwinnett Place. And heck, all the low-rise, indoor shopping malls from the 20th century. But start with the ones that are clearly failing and dead.
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Old 11-01-2017, 12:24 PM
 
370 posts, read 167,829 times
Reputation: 443
Quote:
Originally Posted by ATLTJL View Post
Until they decide to dismantle that gigantic broadcast tower that sits in the middle of a shopping center parking lot, I'm not interested.
That's WSB AM, which was there before the shopping center was. What exactly aren't you interested in?
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Old 11-01-2017, 03:55 PM
 
28,633 posts, read 25,417,911 times
Reputation: 9884
Quote:
Originally Posted by primaltech View Post
Malls are an outdated concept. The land is probably worth more than the mall. They should tear it down and replace it with a large mixed use development, with retail shopping but also with mid-rise residential and whatnot. Like Avalon.
Northlake would be perfect for an Avalon style development.

Where else can you find that much land in that kind of location?
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Old 11-01-2017, 04:00 PM
 
Location: Atlanta
6,468 posts, read 7,447,268 times
Reputation: 4237
Quote:
Originally Posted by ATLTJL View Post
This happened to Gwinnett Place, as well. Some investment company with ideas to turn the place around and make a lot of money bought the property and then did diddly squat with it.

I don't understand what's going on. Are these companies that buy distressed malls just money laundering operations for criminal activity? How do they stay in business? They clearly lose money....what are they hiding? I think we're in the middle of some kind of bank crisis where these investment companies are doing something shady. Does Paul Manafort own them?
They aren't hiding anything.

They also don't really have any development portfolios either.

What is they are a small holding company of long-term real estate investors.

They will never be the ones to redevelop it, but they will sell the building and/or land around it when the opportune moment arises.
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