With a dynamic and diverse population of more than five million people, the Atlanta metro area continues to experience strong growth. often referred to as the “Capital of the South”, the city is a growing tourist destination offering a unique variety of restaurants and major shopping destinations. Atlanta is home to the world’s busiest airport and is within a two-hour flight of 80% of the U.S. population. With no natural boundaries for development, the Atlanta metro area covers 28 counties and is the ninth largest metro area in the U.S. The area offers an assortment of unique neighborhoods with each offering their own character and amenities.
Although Atlanta was hit hard by the most recent economic recession, 2014 marked the strongest annual job growth the city has seen since 2006. Atlanta has recovered 179% of the jobs lost during the downturn and sawfull recovery in March of 2014. The improvement in Atlanta’s Leisure and Hospitality sector has been a contributing factor in the market’s recovery. In 2015, an estimated 51 million visitors came to the Atlanta area, representing a 50% increase over the past six years. Of those visitors, 49.5 million were domestic and 1.2 million were international.
Buckhead is one of Atlanta’s premier retail destinations and business districts offering numerous luxury and internationally recognized retailers. Centered around Phipps Mall and Lenox Mall, this uptown district is considered one of the top shopping destinations in the southeast.
Midtown is an emerging retail and business destination within Atlanta’s urban core. The area is characterized by street-level retail in modern, mixed-use, office and multi-family high-rises. Just north of downtown Atlanta, this area includes Atlantic Station, a major retail and office destination. Midtown is also home to Piedmont Park, the region’s premiere recreational amenity and hub of outdoor activity.
Virginia Highland is a historic village-like neighborhood just east of Atlanta’s Midtown district offering an eclectic mix of unique local boutiques, restaurants, and bars.
Decatur is a progressive neighborhood-centric city located just six miles from downtown Atlanta. Downtown Decatur, the heart of the city, is a lively, pedestrian-oriented business district that offers a vibrant mix of unique boutiques, restaurants, and pubs.
LITTLE FIVE POINTS
Little Five Points and East Atlanta is a unique district located 2 ½ miles from downtown Atlanta famous for its alternative environment and new-age flare. Consisting of mostly local, new-age retailers, restaurants, and coffee shops, the area is surrounded by historic Atlanta neighborhoods such as Inman Park and Candler Park.
The Roswell/Alpharetta area is an affluent suburban area north of Atlanta’s urban core. Boasting some of the highest average household income levels in the entire southeastern United States, this area includes North Point Mall, several open-air lifestyle centers, and suburban strip centers.
CENTRAL PERIMETER/SANDY SPRINGS
The Central Perimeter/Sandy Springs area is a premier suburban shopping destination serving as a gateway between Atlanta’s urban core and its northern suburbs. Boasting some of Atlanta’s highest daytime population traffic, this area includes Perimeter Mall and big-box suburban anchored centers. Several large corporations call the area home, including UPS, Newell Rubbermaid, Cox Communications, and State Farm Insurance.
The Vinings/Cumberland area is a hybrid market with a high amount of convention traffic fed by Cobb Galleria Convention Centre. This area of Atlanta serves as the gateway between Atlanta’s urban core and the city’s northwestern suburbs. The submarket has largely developed as an outgrowth of its role as the headquarters for the Home Depot. The Cobb Galleria Convention Centre and Cumberland Mall serve as the area’s primary retail anchors.
|KEY AREAS / STREETS/SHOPPING CENTERS||CONSUMER PROFILE||MAJOR RETAILERS PRESENT||NEW ENTRANTS||TYPICAL RENT FOR UNIT OF 2,000 SQFT||RANGE OF UNIT SIZES|
|Buckhead||Mass market, luxury, area employees, tourists, locals||Neiman Marcus, Bloomingdales, Saks Fifth Avenue, Nordstrom, Macy’s, Restoration Hardware||Christian Louboutin, Helmut Lang, Shake Shack||$30 - $35 psf||All sizes|
|Midtown||Mass market, in-town locals, CBD employees||Dillard’s, H&M, Ann Taylor, Banana Republic, Target, DSW||Republica Couture, Athleta, Fado’s Irish Pub||$30 - $35 psf||All sizes|
|Virginia Highland||In-town locals, trendsetters, young families||Urban Outfitters, Half Moon Outfitters, La Raine’s Boutique, Bill Hallman Boutique||La Raine’s Bridal Boutique, Highland Bakery||$28 - $30 psf||1,000 - 5,000 sf|
|Downtown Decatur||In-town locals, hip, trendsetters, young families||Squash Blossom, Square Foot, The Cook’s Warehouse, Green’s Fine Foods||Design Matters||$20 - $23 psf||1,000 - 5,000 sf|
|Little Five Points||Locals, hipsters, alternative lifestyle, artists||Junkman’s Daughter, Rag-O-Rama, Cherry Bomb, Bill Hallman||1,000 - 3,000 sf|
|Roswell/Alpharetta||Mass market, suburban locals, families||Macy’s, American Girl, GAP, Bed Bath & Beyond, Dillards, Von Maur||TopGolf||$18 - $20 psf||All sizes|
|Central Perimeter/Sandy Springs||Mass market, suburban locals, families, Central Perimeter employees||Macy’s, Nordstrom, Von Maur, Bed Bath “& Beyond, The Tile Shop, The Container Store||Battle & Brew, Stars and Strikes, Christophe’s To-Go||$20 - $25 psf||All sizes|
|Vinings/Cumberland||Mass market, suburban locals, families, Galleria employees, tourists||Macy’s Costco, Sears, Sports Authority||Office Depot, PETCO||$20 - $25 psf||All sizes|
Data as of May 2016
Atlanta serves as the Southeast’s destination for arts, entertainment, and dining. Award winning chefs and established restaurant groups dominate the dining scene in the Atlanta market and include Anne Quatrano (Bacchanalia, Abbattoir, Star Provisions), Fifth Group Restaurants (Ecco, La Tavola, South City Kitchen), Richard Blais (Flip Burger Boutique), the Stalwarts of Buckhead Life Restaurant Group (Chops, Buckhead Diner, Veni Didi Vici, Pricci) and the list goes on.
Despite the economic downtown, several of Atlanta’s most recognized dining establishments experienced a record-breaking year in 2013. Some of these successful spots included Chops, Bones, and Ecco.
An adventurous pallet is the phrase that would define the general Atlanta mindset, where there exists a strong gravitational pull towards well-positioned homegrown concepts.
|KEY AREAS||CONSUMER PROFILE||FOOD & BEVERAGE OPERATORS INCLUDING||RENT FOR 3,500 SQFT UNIT|
|Buckhead||Upscale food-forward||Bones, Fogo de Chao, Atlanta Fish Market, Maggiano’s Little Italy, Chops, Hal’s, the Capital Grille||$35-$30 psf|
|Central Perimeter||Corporate, family-centric||Seasons 52, Brio, Goldfish, Maggiano’s Little Italy, McKendrick’s Steakhouse, SAGE Woodfire Tavern, California Pizza Kitchen, Cheesecake Factory||$32 psf|
|Virginia Highland||Adventurous||Murphy’s, Loca Luna, Park Tavern, Alon’s Bakery, Fontaine’s Oyster House, Doc Chey’s Noodle House, Rosebud||$30 psf|
|Downtown Decatur||Progressive||Leon’s, Brickstore Pub, Café 246, Cakes & Ale, Iberian Pig, Farm Burger, Café Alsace, Wahoo, Victory Sandwich Shop||$25 psf|
|Midtown||See-and-be-seen||Gordon Birsch, Oceanaire, Vortex, Ecco, Baraonda, One Midtown Kitchen, Rosa Mexicano, RA Sushi, Alluvia, Escorpion||$35 - $40 psf|
|West Midtown||Trendsetters||Bacchanalia, JCT Kitchen, BOCADO, Miller Union, The Optimist, Ormsby’s, Abattoir, Tacqueria Del Sol, Five Seasons, Octane Coffee||$25 - $30 psf|
|Inman Park||Progressive||Kevin Rathbun Steak, Two Urban Licks, Fritti, Sotto Sotto, Pure Tacqueria, Parish, Wisteria, One Eared Stag||$30 psf|
Data as of May 2016