Atlantic Station Runs Retail Leasing at 427,678 SF

ATLANTA-Four more retail tenants have joined the growing roster at developer Jim Jacoby’s $2-billion, 138-acre Atlantic Station mixed-use development under construction in Midtown and scheduled to open in first quarter 2005.

The new leases total 21,977 sf, have an estimated aggregate value of $3.32 million and run the tenant roll to 16 for a total 427,678 sf leased to date. F. Denver McGarey, president, the McGarey Group, Atlantic Station’s exclusive national retail leasing firm, says retail space goes for an average asking rent of $30 to $40 per sf, based on location. Restaurant space ranges from $35 to $45 per sf.

New tenants, leasing for an estimated five years, include three divisions from Columbus, OH-based Limited Brands Inc. They are Victoria’s Secret, taking 7,425 sf at an estimated total rent value of $1.1 million; Express, taking 9,261 sf at an estimated aggregate value of $1.4 million; and Bath and Body Works, taking 3,666 sf at an estimated rent value of $549,000.