OliverMcMillan Quietly Offering The Shops Buckhead Atlanta For Sale (Alpharetta: hotel, neighborhood)

[CoogHawk]

Originally Posted by cabasse

YESSSS. the glorified outlet mall tourist trap that is disney springs in orlando has one. of course Atlanta could support one too, and this would be a great spot for it. (or PCM!)

They had a Uniqlo at Tyson’s Corner Center in NoVA when I lived up there. It was definitely packed all the time, but honestly I felt like it was just a overpriced Old Navy. Considering the similarities between the shopping clientele of Tyson’s and Buckhead I could see it being an attractive store option for the landlord.

[isawooty]

Originally Posted by arjay57

Jamestown is smart to hold some meetings with local residents to find out what they actually want.

I daresay it is not a place to buy $2500 shoes. Some of those folks up there have money but they tend to go for understated.

I agree that it does need more of a retail miix. Unique and exclusive while being affordable to those whose incomes are not at West Paces Ferry Rd levels.

Also, I said this before and I’ll say it again: Why did they even bother with this when we have Lenox & Phipps? I’m sure by this point Lenox is a $2,000,000,000 mall, and when combined with Phipps, surpasses most singular shopping districts in the US in terms of luxury options. SOB is overkill at its price point. I still don’t believe the center is struggling to the degree that folks make it out to be. These stores don’t require 100 customers a day to meet their sales, 5-7 shoppers a day probably satisfy most.

[brownhornet]

Originally Posted by isawooty

I agree that it does need more of a retail miix. Unique and exclusive while being affordable to those whose incomes are not at West Paces Ferry Rd levels.

These stores don’t require 100 customers a day to meet their sales, 5-7 shoppers a day probably satisfy most.

Even with their high priced material, you dont open a store in this type of location paying the amount that you have to pay in rent to only serve 5-7 shoppers a day.

[arjay57]

Another big factor up there is that people think there isn't much accessible parking. You can park at the curb, but how many folks want to drive around looking for a space, wriggling into it, and then forking out money for a parking meter?

Sure, they have an underground deck and free valet. However, many don't want to fool with that. They want to just park and go directly to their destination without all the hassle.

[bu2]

Originally Posted by arjay57

Another big factor up there is that people think there isn't much accessible parking. You can park at the curb, but how many folks want to drive around looking for a space, wriggling into it, and then forking out money for a parking meter?

Sure, they have an underground deck and free valet. However, many don't want to fool with that. They want to just park and go directly to their destination without all the hassle.

I went there for the first time the other day. The restaurants seem to be pretty busy. Young, trendy crowd. But retail seemed pretty dead. And nothing that would attract any mass market. Now that may be by design.

[isawooty]

Originally Posted by brownhornet

Even with their high priced material, you dont open a store in this type of location paying the amount that you have to pay in rent to only serve 5-7 shoppers a day.

I agree with the premise, but this is the luxury market. Those 5-7 folks could drop $25-30k easily. I’ve always believed Louis Vuitton to be dead in Lenox but lo and behold it’s one of their most profitable stores. Folks have tried to close Valentino in Phipps for years due to their preceived busyness of the store but the store still stands. These stores do not work on common store rules.

[JMatl]

Originally Posted by isawooty

I agree with the premise, but this is the luxury market. Those 5-7 folks could drop $25-30k easily. I’ve always believed Louis Vuitton to be dead in Lenox but lo and behold it’s one of their most profitable stores. Folks have tried to close Valentino in Phipps for years due to their preceived busyness of the store but the store still stands. These stores do not work on common store rules.

Exactly. These stores believe it's worth it to have a physical presence, and they can afford the rent easily. I'm friends with the manager of Tom Ford (they're moving to Lenox btw), and he tells me they keep profiles of their regular customers. They know what they like, and will call them when new merchandise arrives. Many of their largest sales are over the phone. This is a huge market, and these stores are here for a reason. A lot of their best customers are from surrounding States as well, many of them still view Atlanta as their regional go-to for all things upscale. It's one of the reasons Lenox/Phipps are surrounded by so many luxury Hotels. That's something you ordinarily don't see around most major malls in the U.S.

[brownhornet]

Originally Posted by isawooty

I agree with the premise, but this is the luxury market. Those 5-7 folks could drop $25-30k easily. I’ve always believed Louis Vuitton to be dead in Lenox but lo and behold it’s one of their most profitable stores. Folks have tried to close Valentino in Phipps for years due to their preceived busyness of the store but the store still stands. These stores do not work on common store rules.

Only they aren't living up to their own expectations and its pretty obvious. These same types of stores right down the street at Lenox and Phipps draw far more traffic. Same types of people with the same type of money. Which is honestly why it made little sense to build this thing to begin with.

[isawooty]

Originally Posted by brownhornet

Only they aren't living up to their own expectations and its pretty obvious. These same types of stores right down the street at Lenox and Phipps draw far more traffic. Same types of people with the same type of money. Which is honestly why it made little sense to build this thing to begin with.

I’m not going back and forth with you over preception vs reality. These stores exist in their physical form in Atlanta for a reason. They don’t have the same foot traffic as J. Crew. Look at Lenox in comparison to Phipps. Lenox is like New York City and Phipps is like Jackson, MS in terms of foot traffic. Phipps also carters to a much more exclusive clientele, therefore it’s going to draw less than all inclusive Lenox. BA is even more exclusive than Phipps so it’s not hard to comprehend.

But it’s your narrative you spin it how you want to. Just feed it to those who don’t understand the game.

There are those of us who understand how the luxury market works. I used to work in Lenox a long time ago. I know how it goes. JMATL explained it clearer than clear.

That being said, I do agree 100 percent that this development was pointless and it would have made sense to just add these stores to Lenox & Phipps and call it a win.

[isawooty]

Originally Posted by JMatl

Exactly. These stores believe it's worth it to have a physical presence, and they can afford the rent easily. I'm friends with the manager of Tom Ford (they're moving to Lenox btw), and he tells me they keep profiles of their regular customers. They know what they like, and will call them when new merchandise arrives. Many of their largest sales are over the phone. This is a huge market, and these stores are here for a reason. A lot of their best customers are from surrounding States as well, many of them still view Atlanta as their regional go-to for all things upscale. It's one of the reasons Lenox/Phipps are surrounded by so many luxury Hotels. That's something you ordinarily don't see around most major malls in the U.S.

You know Buckhead wouldn’t have it any other way.