Paces confirms it has signed Ann Taylor Loft to a 6,000-sf lease but declines to disclose transaction terms. However, area brokers intimate with the suburban retail markets tell GlobeSt.com average asking rent at high-end retail properties such as Vinings Jubilee are in the $30 per-sf to $50 per-sf range. Area brokers estimate the tenant's lease at 10 years. That would give the contract an estimated aggregate value of $1.8 million, if calculated at the $30-per-sf level.

The final phase is expected to be finished in June. Occupancy in the existing center is 98%. Among the tenants are retailers Talbots, Banana Republic, Chico's, CVS Pharmacy and restaurants SoHo, La Paz and Mellow Mushroom.

A Paces representative tells GlobeSt.com an estimated development cost for the entire project was not available. But area construction industry estimators, intimate with comparable class A ventures, tell GlobeSt.com the average hard cost is probably about $200 per sf or a total $24 million for the 120,000 sf.