By Mark Woolsey
North American Properties officials said they’re entering a joint venture partnership with current owner PGIM. NAP will be part owner and will oversee leasing and management of the 230,000 square-foot center near Johnson Ferry and Roswell roads.
According to a news release, the property company’s plan for the complex will include the addition of a central event lawn surrounded by what it calls “vibrant” patios designed to engage and enhance connectivity.
NAP’s senior vice president of Leasing Adam Schwegman said the aim is to pull people together “to hang out and connect with the community.”
“East Cobb is home to an incredible population of families looking for places to go and things to do, yet it lacks any semblance of a downtown,” he said in the release. “We are excited to elevate this already great shopping and dining destination into a modern gathering place.”
North American Properties said it also plans to add a concierge service and additional community events during the year.
Restaurants to be installed surrounding the central lawn space will be chef-driven, said officials. Currently the Avenue plays host to a number of chain eateries, including Tin Lizzy’s Cantina and Panera Bread. The retail side is home to several national brands including Pottery Barn, Williams Sonoma and Sephora.
The Avenue was created in 1999 by Cousins Properties as the first of what it called “lifestyle centers.”
The announcement gave no timeline for the redevelopment project and financial details of the investment deal weren’t announced.