Retail construction costs are estimated at $150 million. the McGarey Group of Coronado, Co., which is handling retail/entertainment leasing, wouldn't disclose quoted average rents.
But area brokers intimate with the project tell GlobeSt.com on condition of anonymity the range at Atlantic Station is $25 per sf to $35 per sf, among the highest in the area.
Published reports of imminent deals with Sam's Club, Dillard's and others are "all speculation," according to an Atlantic Station spokesperson. The two confirmed deals account for a total 105,192 sf or about 9% occupancy.
Englewood, CO-based Regal Entertainment Group signed a lease for a 16-screen United Artists theatre at the corner of State and 19th Streets in the development. It plans a 100,000-sf, two-story building with about 4,000 stadium seats.
Los Angeles-based California Pizza Kitchen is taking 5,192 sf. The restaurant will occupy a single level at West Avenue and West Promenade and incorporate an outdoor dining area. It will be the 132-unit chain's fourth location in Atlanta.
Move-in date is set for fall 2003, during the opening of the development, which will total 12 million sf of retail, office, residential and hotel space.
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