Broughton Street (Atlanta: loft, tenants, landlords)

[ajc100890]

7 years since the redevelopment of Broughton Street by Atlanta developer Ben Carter, and most of the chain stores he lured have vacated with a few exceptions. I’ve noticed the following tenants close recently (albeit some are because of COVID and others are downsizing). Gorrin Bros, Michael Kors, Victoria’s Secret, LOFT, Club Monaco, and Panera have all closed recently.

This frees up a sizeable portfolio of space, but the rents still seem too high for regional retailers. Therefore, it appears Landlords are trying to lure national companies. If that’s the case, they need to lure companies that have an experience. Apple, REI, Patagonia, Peloton, and Sephora are a few National companies that are still wildly successful even during COVID that are missing from the local retail landscape. These companies would appeal to locals, and wouldn’t have to rely on tourists to survive. I think that was the problem with the modernization a few years back. Several of the retailers were already irrelevant by the time they went in (ie Victoria’s Secret or LOFT).

Apple would be excellent in the old Victoria Secret space. Patagonia would work well in the old Loft space.

[CoastalGAGuy]

If I was on the board at the Chamber, I'd be actively seeking the consultation of ajc100890. Slowvannah is at a crossroads coming out of the pandemic, and it will take vision like this to give us the energy needed to re-spark our "destination" heartbeat.